New Mexico Statutes 7-9-52. Deduction; gross receipts tax; sale of construction services and construction-related services to persons engaged in the construction business
A. Receipts from selling a construction service or a construction-related service may be deducted from gross receipts if the sale is made to a person engaged in the construction business who delivers a nontaxable transaction certificate to the person performing the construction service or a construction-related service or provides alternative evidence pursuant to Section 7-9-43 N.M. Stat. Ann..
Terms Used In New Mexico Statutes 7-9-52
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
B. The buyer shall have the construction services or construction-related services directly contracted for or billed to:
(1) a construction project that is subject to the gross receipts tax upon its completion or upon the completion of the overall construction project of which it is a part;
(2) a construction project that is subject to the gross receipts tax upon the sale in the ordinary course of business of the real property upon which it was constructed; or
(3) a construction project that is located on the tribal territory of an Indian nation, tribe or pueblo.