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2019 New Mexico Statutes
Chapter 7 - Taxation
Article 9 - Gross Receipts and Compensating Tax
Section 7-9-64 - Deduction; gross receipts tax; newspaper sales.
Universal Citation: NM Stat § 7-9-64 (2019)
Receipts from selling newspapers, except from selling advertising space, may be deducted from gross receipts.
History: 1953 Comp., § 72-16A-14.19, enacted by Laws 1969, ch. 144, § 54.
ANNOTATIONSEffective dates. — Laws 1969, ch. 144, § 68 made Laws 1969, ch. 144, § 54 effective July 1, 1969.
Advertising inserts purchased by a New Mexico retailer from out-of-state advertising coordinators were not "newspapers" within the meaning of this section. Phillips Mercantile Co. v. N.M. Taxation & Revenue Dep't, 1990-NMCA-006, 109 N.M. 487, 786 P.2d 1221.
Am. Jur. 2d, A.L.R. and C.J.S. references. — What constitutes newspapers, magazines, periodicals, or the like, under sales or use tax law exemption, 25 A.L.R.4th 750.
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