N.M. Admin. Code § 3.2.209.23

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

Section 3.2.209.23 - CONSTRUCTION MATERIALS USED IN NONTAXABLE CONSTRUCTION PROJECTS

A. A seller of construction material may not claim the deduction from gross receipts provided by Section 7-9-51 NMSA 1978, or accept a nontaxable transaction certificate (NTTC) in good faith as required by Section 7-9-43 NMSA 1978, when the seller can reasonably determine that the construction material sold will be incorporated into a construction project which will not be subject to gross receipts tax upon completion because it is located outside New Mexico.

B. A seller can reasonably determine that a project is located outside New Mexico when the seller has documents identifying the location of the project.

C. No construction project located outside New Mexico will be subject to gross receipts tax upon completion.

N.M. Admin. Code § 3.2.209.23

1/24/86, 4/2/86, 11/26/90, 11/15/96, 3.2.209.23 NMAC - Rn, 3 NMAC 2.51.23 & A, 10/31/2000, Amended by New Mexico Register, Volume XXIX, Issue 24, December 27, 2018, eff. 12/27/2018