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2019 New Mexico Statutes
Chapter 7 - Taxation
Article 9 - Gross Receipts and Compensating Tax
Section 7-9-85 - Deduction; gross receipts tax; certain organization fundraisers.
Universal Citation: NM Stat § 7-9-85 (2019)
Receipts from not more than two fundraising events annually conducted by an organization that is exempt from the federal income tax as an organization described in Section 501(c), other than an organization described in Section 501(c)(3), of the United States Internal Revenue Code of 1986, as amended may be deducted from gross receipts.
History: Laws 1994, ch. 43, § 1.
ANNOTATIONSEffective dates. — Laws 1994, ch. 43, § 2 made Laws 1994, ch. 43, § 1 effective July 1, 1994.
Cross references. — For Section 501 of the Internal Revenue Code, see 26 U.S.C. § 501.
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