Receipts from charges made in connection with the origination, making or assumption of a loan or from charges made for handling loan payments may be deducted from gross receipts.
§ 7-9-61.1 NMSA 1978
Deduction; gross receipts tax; certain receipts
Known as the Gross Receipts and Compensating Tax Act
The act spans §§ 7–7 (192 sections).
1978 Comp., § 7-9-61.1, enacted by Laws 1981, ch. 37, § 52.
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.