N.M. Admin. Code § 3.2.209.9
Current through Register Vol. 35, No. 24, December 23, 2024
Receipts from the sale of casing, cement, shoes and float equipment, casing heads and well heads may be deducted from gross receipts if the other requirements of Section 7-9-51 NMSA 1978 are met and a nontaxable transaction certificate or alternative evidence is provided by a well drilling company performing a turnkey project, as these items become ingredient or component parts of the construction project.
N.M. Admin. Code § 3.2.209.9