For AI agents: read the machine-readable documentation index at /llms.txt or the single-file full reference at /llms-full.txt.
Form a Business

Deduction; gross receipts tax; chemicals and reagents

NMSA 1978, § 7-9-65
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
7-9-65. Deduction; gross receipts tax; chemicals and reagents Receipts from selling chemicals or reagents to any mining, milling or oil company for use in processing ores or oil in a mill, smelter or refinery or in acidizing oil wells, and receipts from selling chemicals or reagents in lots in excess of eighteen tons to any hard-rock mining or milling company for use in any combination of extracting, leaching, milling, smelting, refining or processing ore at a mine site, may be deducted from gross receipts. Receipts from selling explosives, blasting powder or dynamite may not be deducted from gross receipts. 1953 Comp., § 72-16A-14.21, enacted by Laws 1969, ch. 144, § 56; 2019, ch. 172, § 1.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18507/index.do#!b/7-9-65Fetched: 10/20/2026

Starting a business in New Mexico? New Mexico LLC guide: costs and requirements