Receipts of a lottery game retailer from selling lottery tickets pursuant to the New Mexico Lottery Act [Chapter 6, Article 24 NMSA 1978] may be deducted from gross receipts.
§ 7-9-87 NMSA 1978
Deduction; gross receipts tax; lottery retailer receipts
Known as the Gross Receipts and Compensating Tax Act
The act spans §§ 7–7 (192 sections).
Laws 1995, ch. 155, § 35.
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.