Exemption; gross receipts tax and compensating tax; fuel for space vehicles
Known as the Gross Receipts and Compensating Tax Act
The act spans §§ 7–7 (192 sections).
1978 Comp., § 7-9-26.1, enacted by Laws 2003, ch. 62, § 1.
A. Exempted from the gross receipts tax are the receipts from selling fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers.
B. Exempted from the compensating tax is the use of fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers.
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.