Exempted from the gross receipts tax are the receipts of a taxpayer who is approved for participation in the supplemental nutrition assistance program authorized by U.S.C. Title 7, Chapter 51, as that chapter may be amended or renumbered, from the lawful acceptance and deposit with a financial institution of benefits issued by the United States department of agriculture pursuant to the supplemental nutrition assistance program.
§ 7-9-18.1 NMSA 1978
Exemption; gross receipts tax; supplemental nutrition assistance program benefits
Known as the Gross Receipts and Compensating Tax Act
The act spans §§ 7–7 (192 sections).
1978 Comp., § 7-9-18.1, enacted by Laws 1987, ch. 264, § 13; 1987, ch. 304, § 1; 2025, ch. 130, § 67.
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.