New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 212 - IMPOSITION AND RATE OF GOVERNMENTAL GROSS RECEIPTS TAX
Section 3.2.212.18 - SALE OF DRUGS TO WELFARE PATIENTS
Universal Citation: 3 NM Admin Code 3.2.212.18
Current through Register Vol. 35, No. 18, September 24, 2024
The receipts of a pharmacist from selling drugs to welfare patients may be deducted from gross receipts in a situation in which the health and environment department remits to the pharmacist the wholesale cost of the drug sold and a fixed amount per prescription filled. Such receipts are derived from the sale of tangible personal property to the state of New Mexico and may be deducted from gross receipts pursuant to Section 7-9-54 NMSA 1978.
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