A. Receipts from the sale of prescription drugs and oxygen and oxygen services provided by a licensed medicare durable medical equipment provider and cannabis products that are sold in accordance with the Lynn and Erin Compassionate Use Act [N.M. Stat. Ann. Chapter 26, Article 2B] may be deducted from gross receipts and governmental gross receipts.

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B. For the purposes of this section, “prescription drugs” means insulin and substances that are:

(1)     dispensed by or under the supervision of a licensed pharmacist or by a physician or other person authorized under state law to do so;

(2)     prescribed for a specified person by a person authorized under state law to prescribe the substance; and

(3)     subject to the restrictions on sale contained in Subparagraph 1 of Subsection (b) of 21 USCA 353.