Receipts from publishing newspapers or magazines, except from selling advertising space, may be deducted from gross receipts.
Receipts from selling magazines at retail may not be deducted from gross receipts.
§ 7-9-63 NMSA 1978
Deduction; gross receipts tax; publication sales
Known as the Gross Receipts and Compensating Tax Act
The act spans §§ 7–7 (192 sections).
1953 Comp., § 72-16A-14.18, enacted by Laws 1969, ch. 144, § 53.
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.