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 3.2.206.18 - PHOTO PROCESSING SERVICE
Universal Citation: 3 NM Admin Code 3.2.206.18
Current through Register Vol. 35, No. 18, September 24, 2024
The receipts of a person engaged in the business of processing photographic material, such as exposed film, are receipts from performing a service and may be deducted from gross receipts if the sale of the service is made to a buyer who delivers a nontaxable transaction certificate (nttc). The subsequent sale must be in the ordinary course of business and be subject to the gross receipts tax or the buyer will be liable for the compensating tax on the value of the service. This version of 3.2.206.18 NMAC applies to transactions occurring on or after July 1, 2000.
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