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2011 New Mexico Statutes
Chapter 7: Taxation
Article 9: Gross Receipts and Compensating Tax, 7-9-1 through 7-9-114
Section 7-9-71: Deduction; gross receipts tax; trade-in allowance.


NM Stat § 7-9-71 (1996 through 1st Sess 50th Legis) What's This?

7-9-71. Deduction; gross receipts tax; trade-in allowance.

That portion of the receipts of a seller that is represented by a trade-in of tangible personal property of the same type being sold, except for the receipts represented by a trade-in of a manufactured home, may be deducted from gross receipts.

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