Deductions; gross receipts; child care assistance through a licensed child care assistance program; pre-kindergarten services by for-profit pre-kindergarten providers
NMSA 1978, § 7-9-77.2
in effect7-9-77.2. Deductions; gross receipts; child care assistance through a licensed child care assistance program; pre-kindergarten services by for-profit pre-kindergarten providers
A. Receipts from the sale of child care assistance services by a taxpayer pursuant to a contract or grant with the early childhood education and care department to provide such services through a licensed child care assistance program may be deducted from gross receipts.
B. Receipts of for-profit pre-kindergarten providers for the sale of pre-kindergarten services pursuant to the Pre-Kindergarten Act [Chapter 32A, Article 23 NMSA 1978] may be deducted from gross receipts.
C. A taxpayer allowed a deduction pursuant to this section shall report the amount of the deduction separately in a manner required by the department.
D. The deductions provided by this section shall be included in the tax expenditure budget pursuant to Section 7-1-84 NMSA 1978, including the annual aggregate cost of the deductions.
E. As used in this section:
(1) "child care assistance" means "child care assistance" or "early childhood care assistance", as those terms are defined in the Early Childhood Care Accountability Act [32A-23C-1 to 32A-23C-5 NMSA 1978]; and
(2) "licensed child care assistance program" means "licensed child care program", "licensed early childhood care program" or "licensed exempt child care program", as those terms are defined in the Early Childhood Care Accountability Act.
Laws 2024, ch. 67, § 13; 2025, ch. 130, § 76.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18507/index.do#!b/7-9-77.2Fetched: 10/20/2026