New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 126 - EXEMPTION - COMPENSATING TAX - USE OF ELECTRICITY IN THE PRODUCTION AND TRANSMISSION OF ELECTRICITY
Section 3.2.126.8 - USE OF ELECTRICITY IN PRODUCTION AND TRANSMISSION OF ELECTRICITY

Universal Citation: 3 NM Admin Code 3.2.126.8

Current through Register Vol. 35, No. 18, September 24, 2024

A. Electricity used directly in the operation of a generating plant of an electric utility in New Mexico and electricity used directly in the operation of transmission facilities of an electric utility in New Mexico is used in the production and transmission of electricity pursuant to Section 7-9-38 NMSA 1978 and is, therefore, exempted from the compensating tax.

B. Electricity used in the operation of offices, warehouses, or any facility of an electric utility in New Mexico other than directly in a generating plant or transmission facility is not used in the production or transmission of electricity within the meaning of Section 7-9-38 NMSA 1978 and the value of such electricity is, therefore, subject to the compensating tax.

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