Receipts represented by allowances granted for vehicle trade-ins may be deducted from gross receipts.
§ 7-14A-8 NMSA 1978
Deduction; trade-in allowance
Known as the Leased Vehicle Gross Receipts Tax Act
The act spans §§ 7–7 (12 sections).
Laws 1991, ch. 197, § 12.
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.