New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 10 - IMPOSITION AND RATE OF TAX - DENOMINATION AS "COMPENSATING TAX"
Section 3.2.10.14 - PROCESSING PIPE
Universal Citation: 3 NM Admin Code 3.2.10.14
Current through Register Vol. 35, No. 18, September 24, 2024
A New Mexico buyer who purchases pipe from outside the state is subject to the New Mexico compensating tax on the total value of the pipe at the time it is introduced into New Mexico for use. Value includes charges for labor and material used in processing the pipe when processed outside New Mexico prior to initial introduction into the state.
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