New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 219 - DEDUCTION - GROSS RECEIPTS TAX - CERTAIN LOAN CHARGES
Section 3.2.219.8 - ESCROW FEES - INSTALLMENT CONTRACTS
Universal Citation: 3 NM Admin Code 3.2.219.8
Current through Register Vol. 35, No. 18, September 24, 2024
The receipts of an escrow agent from charges made for handling installment purchase agreements (such as real estate contracts) are not receipts from handling loan payments and are not deductible from gross receipts under the provisions of Section 7-9-61.1 NMSA 1978.
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