2011 New Mexico Statutes
Chapter 7: Taxation
Article 9: Gross Receipts and Compensating Tax, 7-9-1 through 7-9-114
Section 7-9-26.1: Exemption; gross receipts tax and compensating tax; fuel for space vehicles.
7-9-26.1. Exemption; gross receipts tax and compensating tax; fuel for space vehicles.
A. Exempted from the gross receipts tax are the receipts from selling fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers.
B. Exempted from the compensating tax is the use of fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers.
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