Receipts from selling tangible personal property to credit unions chartered under the provisions of the Credit Union Act [Chapter 58, Article 11 NMSA 1978] are deductible to the same extent that receipts from the sale of tangible personal property to federal credit unions may be deducted pursuant to the provisions of Section 7-9-54 NMSA 1978.
§ 7-9-61.2 NMSA 1978
Deduction; receipts from sales to state-chartered credit unions
Known as the Gross Receipts and Compensating Tax Act
The act spans §§ 7–7 (192 sections).
1978 Comp., § 7-9-61.2, enacted by Laws 2000, ch. 48, § 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.