There is a newer version of the New Mexico Statutes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 7-9-71 Deduction; gross receipts tax; trade-in allowance.
NM Stat § 7-9-71 (2014) 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.
History: 1953 Comp., 72-16A-14.28, enacted by Laws 1969, ch. 144, 63; 1979, ch. 338, 6; 1991, ch. 203, 7.
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