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2020 New Mexico Statutes
Chapter 7 - Taxation
Article 9 - Gross Receipts and Compensating Tax
Section 7-9-38 - Exemption; compensating tax; use of electricity in the production, conversion and transmission of electricity.
Universal Citation: NM Stat § 7-9-38 (2020)
Exempted from the compensating tax is electricity used in the production and transmission of electricity, including transmission using voltage source conversion technology.
History: 1953 Comp., § 72-16A-12.26, enacted by Laws 1969, ch. 144, § 31; 2012, ch. 12, § 1.
ANNOTATIONSThe 2012 amendment, effective July 1, 2012, exempted electricity used in the transmission of electricity using voltage source conversion technology and after "transmission of electricity", added the remainder of the sentence.
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