There is a newer version of the New Mexico Statutes
2014 New Mexico Statutes
Chapter 7 - Taxation
Section 9 Gross Receipts and Compensating Tax
Section 7-9-103.2 Deduction; gross receipts; electricity exchange.
NM Stat § 7-9-103.2 (2014) What's This?
7-9-103.2. Deduction; gross receipts; electricity exchange.
A. Receipts from operating a market or exchange for the sale or trading of electricity, rights to electricity and derivative products and from providing ancillary services may be deducted from gross receipts.
B. The department shall report annually to the interim revenue stabilization and tax policy committee on use of the deduction provided in this section.
C. As used in this section, "ancillary services" means services that are supplied from or in connection with facilities employing voltage source conversion technology and that are used to support or enhance the efficient and reliable operation of the electric system.
History: Laws 2012, ch. 12, 3.
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