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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-9C-8

Deductions; telecommunications providers

Official textnmonesource.comlast amended

# A.

Receipts from interstate telecommunications services that are provided by a corporation to itself or to an affiliated corporation may be deducted from interstate telecommunications gross receipts.

# B.

For the purposes of this section:

# (1)

"affiliated corporation" means a corporation that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with the subject corporation; and

# (2)

"control" means ownership of stock in a corporation that represents at least eighty percent of the total voting power of the corporation and has a value equal to at least eighty percent of the total value of the stock of that corporation.

Amendment history

Laws 1992, ch. 50, § 8 and Laws 1992, ch. 67, § 8; 1993, ch. 30, § 18.

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

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In this article (11 sections)
  1. 7-9C-1 · Short title
  2. 7-9C-2 · Definitions
  3. 7-9C-3 · 7-9C-3
  4. 7-9C-4 · Presumption of taxability
  5. 7-9C-5 · Date payment due
  6. 7-9C-6 · Deduction; certain telephone services
  7. 7-9C-7 · Deduction; sale of a service for resale
  8. 7-9C-8 · Deductions; telecommunications providers
  9. 7-9C-9 · Deduction; bad debts
  10. 7-9C-10 · Credit; services performed outside the state
  11. 7-9C-11 · Administration
Full table of contents →