Exempted from the compensating tax is electricity used in the production and transmission of electricity, including transmission using voltage source conversion technology.
§ 7-9-38 NMSA 1978
Exemption; compensating tax; use of electricity in the production, conversion and transmission of electricity
Known as the Gross Receipts and Compensating Tax Act
The act spans §§ 7–7 (192 sections).
1953 Comp., § 72-16A-12.26, enacted by Laws 1969, ch. 144, § 31; 2012, ch. 12, § 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.