Receipts from transactions in interstate commerce may be deducted from gross receipts to the extent that the imposition of the leased vehicle gross receipts tax would be unlawful under the United States constitution.
§ 7-14A-7 NMSA 1978
Deduction; transactions in interstate commerce
Known as the Leased Vehicle Gross Receipts Tax Act
The act spans §§ 7–7 (12 sections).
Laws 1991, ch. 197, § 11.
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.