New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 235 - DEDUCTION - GROSS RECEIPTS TAX - SALE OF CERTAIN SERVICES PERFORMED DIRECTLY ON PRODUCT MANUFACTURED
Section 3.2.235.8 - PLATING
Universal Citation: 3 NM Admin Code 3.2.235.8
Current through Register Vol. 35, No. 18, September 24, 2024
A. Receipts from the sale of the service of plating are deductible from gross receipts if the sale is made to a person engaged in the business of manufacturing and the buyer delivers a nontaxable transaction certificate (nttc).
B. The buyer delivering the nttc must have the service performed directly upon tangible personal property which the buyer is in the business of manufacturing or upon ingredients or component parts thereof, or the buyer will be liable for the compensating tax on the value of the plating service at the time it was rendered.
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