New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 206 - DEDUCTION - GROSS RECEIPTS TAX - SALE OF A SERVICE FOR RESALE
Section 3.2.206.17 - EQUIPMENT REPAIR SERVICES
Universal Citation: 3 NM Admin Code 3.2.206.17
Current through Register Vol. 35, No. 18, September 24, 2024
Receipts from the sale of a repair service to a person engaged in the business of repairing equipment may be deducted from gross receipts if the buyer delivers a nontaxable transaction certificate (nttc) to the seller. The subsequent sale must be in the ordinary course of business and subject to the gross receipts tax or the buyer will be subject to the compensating tax on the value of the service. This version of 3.2.206.17 NMAC applies to transactions occurring on or after July 1, 2000.
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