Forty percent of the value of the fuel specially prepared and sold for use in turboprop or jet-type engines as determined by the department may be deducted in computing the compensating tax due.
§ 7-9-84 NMSA 1978
Deduction; compensating tax; jet fuel
Known as the Gross Receipts and Compensating Tax Act
The act spans §§ 7–7 (192 sections).
Laws 1993, ch. 364, § 2; 2003, ch. 214, § 3; 2006, ch. 51, § 2; 2011, ch. 74, § 2; 2025, ch. 130, § 78.
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.