2011 New Mexico Statutes
Chapter 7: Taxation
Article 9: Gross Receipts and Compensating Tax, 7-9-1 through 7-9-114
Section 7-9-52: Deduction; gross receipts tax; sale of construction services to persons engaged in the construction business.
7-9-52. Deduction; gross receipts tax; sale of construction services to persons engaged in the construction business.
A. Receipts from selling a construction 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.
B. The buyer delivering the nontaxable transaction certificate must have the construction services performed upon:
(1) a construction project which 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 which 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.
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