2021 New Mexico Statutes
Chapter 7 - Taxation
Article 9 - Gross Receipts and Compensating Tax
Section 7-9-92 - Deduction; gross receipts; sale of food at retail food store.
A. Receipts from the sale of food by a retail food store that are not exempt from gross receipts taxation and are not deductible pursuant to another provision of the Gross Receipts and Compensating Tax Act may be deducted from gross receipts. The deduction provided by this section shall be separately stated by the taxpayer.
B. For the purposes of this section:
(1) "food" means any food or food product for home consumption that meets the definition of food in 7 USCA 2012(k)(1) for purposes of the federal supplemental nutrition assistance program; and
(2) "retail food store" means an establishment that sells food for home preparation and consumption and that meets the definition of retail food store in 7 USCA 2012(o)(1) for purposes of the federal supplemental nutrition assistance program, whether or not the establishment participates in the supplemental nutrition assistance program.
History: Laws 2004, ch. 116, § 5; 2021, ch. 65, § 26.
ANNOTATIONSThe 2021 amendment, effective July 1, 2021, provided that the existing gross receipts tax deduction for receipts from the sale of food for home consumption is available for food sold by a retail food store and not at a retail food store, and revised the definitions of "food" and "retail food store" for purposes of this section; in Subsection A, after "the sale of food", deleted "at" and added "by"; and in Subsection B, Paragraph B(1), after "7 USCA", changed "2012(g)(1) to "2012(k)(1), and after "federal", deleted "food stamp" and added "supplemental nutrition assistance", and in Paragraph B(2), after "7 USCA", changed "2012(k)(1)" to "2012(o)(1)", and changed each occurrences of "food stamp" to "supplemental nutrition assistance".