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Section 7-9-26.1 - Exemption; gross receipts tax and compensating tax; fuel for space vehicles.

NM Stat § 7-9-26.1 (2019) (N/A)
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A. Exempted from the gross receipts tax are the receipts from selling fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers.

B. Exempted from the compensating tax is the use of fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers.

History: 1978 Comp., § 7-9-26.1, enacted by Laws 2003, ch. 62, § 1.

Effective dates. — Laws 2003, ch. 62, § 5 made Laws 2003, ch. 62, § 1 effective July 1, 2003.

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