N.M. Admin. Code § 3.2.209.19
Current through Register Vol. 35, No. 23, December 10, 2024
The receipts of an electric utility company from the sale of electricity to a person engaged in the construction business may not be deducted from the utility's gross receipts pursuant to Section 7-9-51 NMSA 1978 because electricity does not become an ingredient or component part of the end product of the construction project.
N.M. Admin. Code § 3.2.209.19