{"data":{"id":"us-nm/7-9-62.1","jurisdiction":"us-nm","citation":"7-9-62.1","heading":"Deduction; gross receipts tax; aircraft sales and services; reporting requirements.","body":"A. Receipts from the sale of or from maintaining, refurbishing, remodeling or otherwise modifying a commercial or military carrier over ten thousand pounds gross landing weight may be deducted from gross receipts.\nB. A taxpayer allowed a deduction pursuant to this section shall report the amount of the deduction separately in a manner required by the department.\nC. The deduction provided by this section shall be included in the tax expenditure budget pursuant to Section 7-1-84 NMSA 1978 with an analysis of the effectiveness and cost of the deduction.","path":["Chapter 7 - Taxation","ARTICLE 9 Gross Receipts and Compensating Tax"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18507/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"d5e4c73987c4e37d4e5c4cb0769a1c6d19223f9803eadc0a12c5fc654d6677ea","source_id":"us-nm","stale":false,"prev":"us-nm/7-9-62","next":"us-nm/7-9-63"},"notice":"GroundRules: Original legal text. Not legal advice."}