Exempted from the gross receipts tax are the receipts from selling boats on which a tax is imposed by Section 66-12-6.1 NMSA 1978.
§ 7-9-22.1 NMSA 1978
Exemption; gross receipts tax; boats
Known as the Gross Receipts and Compensating Tax Act
The act spans §§ 7–7 (192 sections).
1978 Comp., § 7-9-22.1, enacted by Laws 1987, ch. 247, § 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.