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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-9-94

7-9-94

Official textnmonesource.comlast amended

Deduction; gross receipts; military transformational acquisition programs.

# A.

Receipts from transformational acquisition programs performing research and development, test and evaluation at New Mexico major range and test facility bases pursuant to contracts entered into with the United States department of defense may be deducted from gross receipts through June 30, 2025.

# B.

As used in this section, "transformational acquisition program" means a military acquisition program authorized by the office of the secretary of defense force transformation and not physically tested in New Mexico on or before July 1, 2005.

# C.

The deduction provided in this section does not apply to receipts of a prime contractor operating facilities designated as a national laboratory by act of congress and is not applicable to current force programs as of July 1, 2005.

# D.

A taxpayer allowed a deduction pursuant to this section shall report the amount of the deduction separately in a manner required by the department. The deduction shall be included in the tax expenditure budget pursuant to Section 7-1-84 NMSA 1978, including the annual aggregate cost of the deduction.

Amendment history

Laws 2005, ch. 104, § 23; 2006, ch. 72, § 1; 2015, ch. 18, § 1; 2025, ch. 130, § 82.

Source: official source (NMSA chapter on nmonesource.com)

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In this article (40 sections)
  1. 7-9-79 · Credit; compensating tax
  2. 7-9-79.1 · Credit; gross receipts tax; services
  3. 7-9-79.2 · Repealed
  4. 7-9-80 · Repealed
  5. 7-9-80.1 · Repealed
  6. 7-9-81 · Repealed
  7. 7-9-82 · Repealed
  8. 7-9-83 · Deduction; gross receipts tax; jet fuel
  9. 7-9-84 · Deduction; compensating tax; jet fuel
  10. 7-9-85 · 7-9-85
  11. 7-9-86 · Repealed
  12. 7-9-87 · Deduction; gross receipts tax; lottery retailer receipts
  13. 7-9-88 · Repealed
  14. 7-9-88.1 · Credit; gross receipts tax; tax paid to certain tribes
  15. 7-9-88.2 · 7-9-88.2
  16. 7-9-89 · 7-9-89
  17. 7-9-90 · 7-9-90
  18. 7-9-91 · 7-9-91
  19. 7-9-92 · Deduction; gross receipts; sale of food at retail food store
  20. 7-9-93 · 7-9-93
  21. 7-9-94 · 7-9-94
  22. 7-9-95 · 7-9-95
  23. 7-9-96 · Repealed
  24. 7-9-96.1 · Repealed
  25. 7-9-96.2 · 7-9-96.2
  26. 7-9-96.3 · Technology readiness gross receipts tax credit
  27. 7-9-97 · 7-9-97
  28. 7-9-98 · 7-9-98
  29. 7-9-99 · 7-9-99
  30. 7-9-100 · 7-9-100
  31. 7-9-101 · 7-9-101
  32. 7-9-102 · 7-9-102
  33. 7-9-103 · 7-9-103
  34. 7-9-103.1 · Deduction; gross receipts tax; converting electricity
  35. 7-9-103.2 · Deduction; gross receipts; electricity exchange
  36. 7-9-104 · 7-9-104
  37. 7-9-105 · Repealed
  38. 7-9-106 · Repealed
  39. 7-9-107 · 7-9-107
  40. 7-9-108 · 7-9-108
Full table of contents →