New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 239 - DEDUCTION - GROSS RECEIPTS TAX - FUNDRAISING
Section 3.2.239.8 - CERTAIN ORGANIZATIONS NOT ELIGIBLE FOR DEDUCTION - "ORGANIZATION" DEFINED
Universal Citation: 3 NM Admin Code 3.2.239.8
Current through Register Vol. 35, No. 18, September 24, 2024
A. No organization described in Section 501(c)(3) of the Internal Revenue Code may claim the deduction provided by Section 7-9-85 NMSA 1978 but the receipts of 501(c)(3) organizations, except for unrelated business income, are exempt from gross receipts tax under Section 7-9-29 NMSA 1978.
B. As used in Part 3.2.239 NMAC, "organization" means:
(1) any
organization described in Section 501(c) of the Internal Revenue Code, other
than organizations described in Section 501(c)(3); and
(2) any officially recognized chapter, lodge
or similar affiliate of an organization described in Paragraph (1) of
Subsection B of Section 3.2.239.8 NMAC of this section.
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