Receipts from the rental or leasing of vehicles used in the transportation of passengers or property for hire in interstate commerce under the regulations or authorization of any agency of the United States may be deducted.
§ 7-9-70 NMSA 1978
Deduction; gross receipts tax; rental or lease of vehicles used in interstate commerce
Known as the Gross Receipts and Compensating Tax Act
The act spans §§ 7–7 (192 sections).
1953 Comp., § 72-16A-14.27, enacted by Laws 1969, ch. 144, § 62.
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.