New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 228 - DEDUCTION - GROSS RECEIPTS TAX - WARRANTY OBLIGATIONS
Section 3.2.228.10 - SERVICE CONTRACT AND MANUFACTURER'S WARRANTY DISTINGUISHED
Universal Citation: 3 NM Admin Code 3.2.228.10
Current through Register Vol. 35, No. 18, September 24, 2024
A manufacturer's warranty may be distinguished from an automotive service contract, as that term is defined in Subsection C of Section 3.2.1.16 NMAC, on which the manufacturer is the promisor by the characterization used by the manufacturer so long as no separate charge is made to the ultimate customer for a manufacturer's undertaking characterized as a warranty.
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