N.M. Admin. Code § 3.2.209.14

Current through Register Vol. 35, No. 23, December 10, 2024

Section 3.2.209.14 - PAINT AND PAINTING SUPPLIES

A. The receipts from the sale of paint, filler, thinner, varnish or similar items to a person engaged in the painting business who delivers a nontaxable transaction certificate (nttc) or alternative evidence to the seller may be deducted from the seller's gross receipts.

B. Receipts from the sale of brushes, sandpaper, scrapers, sand for sandblasting, machinery and similar items used in the painting business to persons engaged in the painting business may not be deducted from gross receipts because such items do not become an ingredient or component part of the construction project.

3/9/72, 11/20/72, 3/20/74, 7/26/76, 6/18/79, 4/7/82, 5/4/84, 4/2/86, 11/26/90, 11/15/96; 3.2.209.14 NMAC - Rn, 3 NMAC 2.51.14 & A, 5/31/01, Amended by New Mexico Register, Volume XXIX, Issue 24, December 27, 2018, eff. 12/27/2018