New Mexico Statutes 7-9-71. Deduction; gross receipts tax; trade-in allowance
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That portion of the receipts of a seller that is represented by a trade-in of tangible personal property of the same type being sold, except for the receipts represented by a trade-in of a manufactured home, may be deducted from gross receipts.
Terms Used In New Mexico Statutes 7-9-71
- Personal property: All property that is not real property.