New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 230 - DEDUCTION - GROSS RECEIPTS TAX - RENTAL OR LEASE OF VEHICLES USED IN INTERSTATE COMMERCE
Section 3.2.230.8 - WHEN FEDERAL AUTHORITY REQUIRED
Universal Citation: 3 NM Admin Code 3.2.230.8
Current through Register Vol. 35, No. 18, September 24, 2024
A. If a federal agency must grant authority for a person to engage lawfully in interstate transportation of persons or property, any person claiming a deduction under Section 7-9-70 NMSA 1978 must have rented or leased the vehicle to a person who holds federal authority for the transportation of passengers or property for hire in interstate commerce and who uses the vehicle for such purposes. The deduction under Section 7-9-70 NMSA 1978 is available to the lessor, not the lessee.
B. [Repealed.]
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