New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 227 - DEDUCTION - GROSS RECEIPTS TAX - REFUNDS - UNCOLLECTIBLE DEBTS
Section 3.2.227.9 - REFUNDABLE DEPOSITS
Universal Citation: 3 NM Admin Code 3.2.227.9
Current through Register Vol. 35, No. 18, September 24, 2024
A. Receipts from selling soft drinks include amounts received in the form of refundable deposits on bottles, cartons and cases.
B. The amount of deposits refunded to purchasers of soft drinks may be deducted from gross receipts or governmental gross receipts under Section 7-9-67 NMSA 1978.
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