New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 114 - EXEMPTION - GROSS RECEIPTS AND COMPENSATING TAX - FUEL
Section 3.2.114.9 - TURBO PROP AND JET FUEL
Universal Citation: 3 NM Admin Code 3.2.114.9
Current through Register Vol. 35, No. 18, September 24, 2024
A. Receipts from the sale of fuel, specially prepared and sold for use in turbo prop or jet type engines, are subject to the gross receipts tax.
B. These receipts are not exempt under Section 7-9-26 NMSA 1978 because products specially prepared and sold for use in turbo prop or jet type engines are not taxed under Section 7-13-3 NMSA 1978 or Section 7-16A-3 NMSA 1978, because of the definition of gasoline in Section 7-13-2 NMSA 1978 and special fuel in Section 7-16A-2 NMSA 1978.
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