NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-9E-9
Termination of the revolving fund
Official textnmonesource.comlast amended
Should the revolving fund established pursuant to Section 6 [7-9E-6 NMSA 1978] of the Laboratory Partnership with Small Business Tax Credit Act cease to be used for the purposes stated in that act, any amounts remaining in the revolving fund, excluding initial funding from nontax credit sources, shall be paid over to the department as additional gross receipts taxes due. Such payment of additional gross receipts taxes due shall be made in the second month following the month a determination is made that the revolving fund ceases to be used for the purposes stated in that act.
Amendment history
Laws 2000 (2nd S.S.), ch. 20, § 9.
Source: official source (NMSA chapter on nmonesource.com)
In this article (11 sections)
- 7-9E-1 · Short title
- 7-9E-2 · Purpose of act
- 7-9E-3 · Definitions
- 7-9E-4 · Administration of act
- 7-9E-5 · Eligibility requirements
- 7-9E-6 · Administration by the national laboratory
- 7-9E-7 · Tax credits; amounts
- 7-9E-8 · Claiming the tax credit; limitation
- 7-9E-9 · Termination of the revolving fund
- 7-9E-10 · Coordination between national laboratories
- 7-9E-11 · Reporting