New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 209 - GOVERNMENTAL GROSS RECEIPTS
Section 3.2.209.19 - ELECTRICITY
Universal Citation: 3 NM Admin Code 3.2.209.19
Current through Register Vol. 35, No. 18, September 24, 2024
The receipts of an electric utility company from the sale of electricity to a person engaged in the construction business may not be deducted from the utility's gross receipts pursuant to Section 7-9-51 NMSA 1978 because electricity does not become an ingredient or component part of the end product of the construction project.
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