There is a newer version of the New Mexico Statutes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 7-9-12 Exemptions.
NM Stat § 7-9-12 (2014) What's This?
7-9-12. Exemptions.
Exempted from the gross receipts or compensating tax are those receipts or uses exempted in Sections 7-9-13 through 7-9-42 NMSA 1978. Exemptions from either the gross receipts tax or the compensating tax are not exemptions from both taxes unless explicitly stated otherwise by law.
History: 1978 Comp., 7-9-12, enacted by Laws 1969, ch. 144, 5; 1970, ch. 60, 1; 1972, ch. 61, 1; 1973, ch. 67, 1; 1984, ch. 2, 2.
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