New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 108 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN RECEIPTS OF HOMEOWNERS ASSOCIATIONS
Section 3.2.108.8 - OWNERSHIP OF PROPERTY WITHIN THE DEVELOPMENT OR SUBDIVISION REQUIRED
Universal Citation: 3 NM Admin Code 3.2.108.8
Current through Register Vol. 35, No. 18, September 24, 2024
A. To be exempt from gross receipts tax under the provisions of Section 7-9-20 NMSA 1978, the receipts of the homeowners association must be from members of the association who own residential property within the development or subdivision which the homeowner association serves.
B. The receipts of a homeowner association which are received as membership fees, dues, assessments or other charges from persons who are not owners of residential units, residences or residential lots within the development or subdivision which the association serves are not exempt from gross receipts under Section 7-9-20 NMSA 1978.
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