Distributions from the tax administration suspense fund to the general fund of revenue attributable to the gross receipts tax or to the governmental gross receipts tax shall be adjusted for credits issued pursuant to the Gross Receipts and Compensating Tax Act [Chapter 7, Article 9 NMSA 1978] for receipts from the sale of services for resale.
§ 7-1-6.52 NMSA 1978
Distribution adjustment; tax administration suspense fund; credit for certain sales of services for resale
Known as the Tax Administration Act
The act spans §§ 7–7 (198 sections).
Laws 2005, ch. 104, § 1.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.