New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 106 - EXEMPTION - GROSS RECEIPTS TAX - AGRICULTURAL PRODUCTS
Section 3.2.106.8 - LEASE OF LIVESTOCK
Universal Citation: 3 NM Admin Code 3.2.106.8
Current through Register Vol. 35, No. 18, September 24, 2024
Receipts derived from the lease of livestock employed in New Mexico are subject to the gross receipts tax. The exemption provided in Section 7-9-18 NMSA 1978 does not apply to these receipts.
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