Section 7-9-76.1 - Deduction; gross receipts tax; certain manufactured homes.

NM Stat § 7-9-76.1 (2019) (N/A)

Copy with citation

Copy as parenthetical citation

Receipts from the resale of a manufactured home may be deducted from gross receipts if the sale is made of a manufactured home that was subject to the gross receipts, compensating or motor vehicle excise tax upon its initial sale or use in New Mexico. The seller shall retain and furnish proof satisfactory to the department that a gross receipts, compensating or motor vehicle excise tax was paid upon the initial sale or use in New Mexico of a manufactured home, and in the absence of such proof, it is presumed that the tax was not paid. Proof that a New Mexico certificate of title was issued for a manufactured home in 1972 or a prior year or proof that a manufactured home for which a New Mexico certificate of title has been issued was manufactured in 1967 or a prior year is proof that a motor vehicle excise tax was paid on the initial sale or use in New Mexico of that manufactured home.

History: 1978 Comp., § 7-9-76.1, enacted by Laws 1979, ch. 338, § 7; 1980, ch. 103, § 1; 1990, ch. 41, § 9; 1991, ch. 203, § 8.

The 1991 amendment, effective July 1, 1991, substituted "manufactured" for "mobile" in the section heading and throughout the section.

The 1990 amendment, effective July 1, 1990, substituted "department" for "director" and made a minor stylistic change in the second sentence.

Previous Section

Section 7-9-76 - Deduction; gross receipts tax; travel agents' commissions paid by certain entities.

Next Section

Section 7-9-76.2 - Deduction; gross receipts tax; films and tapes.