NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-9I-2
Definitions
As used in the Affordable Housing Tax Credit Act:
# A.
"affordable housing project" means land acquisition, construction, building acquisition, remodeling, improvement, rehabilitation, conversion or weatherization for residential housing that is approved by the authority and that includes single-family housing or multifamily housing;
# B.
"authority" means the New Mexico mortgage finance authority;
# C.
"department" means the taxation and revenue department;
# D.
"modified combined tax liability" means the total liability for the reporting period for the gross receipts tax imposed by Section 7-9-4 NMSA 1978 together with any tax collected at the same time and in the same manner as the gross receipts tax, such as the compensating tax, the withholding tax, the interstate telecommunications gross receipts tax, the surcharges imposed by Section 63-9D-5 NMSA 1978 and the surcharge imposed by Section 63-9F-11 NMSA 1978, minus the amount of any credit other than the affordable housing tax credit applied against any or all of these taxes or surcharges; but "modified combined tax liability" excludes all amounts collected with respect to local option gross receipts taxes and governmental gross receipts taxes; and
# E.
"person" means an individual, tribal government, housing authority, corporation, limited liability company, partnership, joint venture, syndicate, association or nonprofit organization.
Amendment history
Laws 2005, ch. 104, § 18; 2010, ch. 17, § 2; 2015, ch. 17, § 1.
Source: official source (NMSA chapter on nmonesource.com)