New Mexico Statutes 7-9-48. Deduction; gross receipts tax; governmental gross receipts;
Current as of: 2023 | Check for updates
|
Other versions
sale of a service for resale.
Terms Used In New Mexico Statutes 7-9-48
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Receipts from selling a service for resale may be deducted from gross receipts or from governmental gross receipts if the sale is made to a person who delivers a nontaxable transaction certificate to the seller or provides alternative evidence pursuant to Section 7-9-43 N.M. Stat. Ann.. The buyer must resell the service in the ordinary course of business and the resale must be subject to the gross receipts tax or governmental gross receipts tax.