New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 212 - IMPOSITION AND RATE OF GOVERNMENTAL GROSS RECEIPTS TAX
Section 3.2.212.21 - GOVERNMENT CREDIT OR PROCUREMENT CARD PURCHASES
Current through Register Vol. 35, No. 18, September 24, 2024
A. Receipts from sales of tangible personal property to an agency of the United States government or the state of New Mexico are deductible from the gross receipts of the seller when paid for by a credit or procurement card issued to the United States government or the state of New Mexico. Through November 29, 1998, credit or procurement cards bearing the legends "U S GOVT TAX EXEMPT' and "I.M.P.A.C." are such credit or procurement cards issued to the United States government. On and after November 30, 1998, credit or procurement cards bearing the legends "United States of America" and "Tax Exempt I.D. 140001849" are such credit or procurement cards issued to the United States government. On or after June 30, 2003, credit or procurement cards bearing the legend "state of New Mexico" and the state seal are such credit or procurement cards issued to the state of New Mexico.
B. Receipts from credit or procurement card sales of construction materials or services or receipts from credit or procurement card payments of leases of tangible property are not deductible. Receipts from credit or procurement card sales to employees or representatives of the federal government or the state of New Mexico using a credit or procurement card other than a card issued to the United States government or the state of New Mexico are not deductible from gross receipts under Section 7-9-54 NMSA 1978.
