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2020 New Mexico Statutes
Chapter 7 - Taxation
Article 9 - Gross Receipts and Compensating Tax
Section 7-9-26.1 - Exemption; gross receipts tax and compensating tax; fuel for space vehicles.
Universal Citation: NM Stat § 7-9-26.1 (2020)
A. Exempted from the gross receipts tax are the receipts from selling fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers.
B. Exempted from the compensating tax is the use of fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers.
History: 1978 Comp., § 7-9-26.1, enacted by Laws 2003, ch. 62, § 1.
ANNOTATIONSEffective dates. — Laws 2003, ch. 62, § 5 made Laws 2003, ch. 62, § 1 effective July 1, 2003.
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