Deduction; gross receipts tax; warehousing, threshing, harvesting, growing, cultivating and processing agricultural products; testing or transporting milk
NMSA 1978, § 7-9-59
in effect7-9-59. Deduction; gross receipts tax; warehousing, threshing, harvesting, growing, cultivating and processing agricultural products; testing or transporting milk
A. Receipts from warehousing grain or other agricultural products may be deducted from gross receipts.
B. Receipts from threshing, cleaning, growing, cultivating or harvesting agricultural products, including the ginning of cotton, may be deducted from gross receipts.
C. Receipts from testing or transporting milk for the producer or nonprofit marketing association from the farm to a milk processing or dairy product manufacturing plant may be deducted from gross receipts.
D. Receipts from processing for growers, producers or nonprofit marketing associations of agricultural products raised for food and fiber, including livestock, may be deducted from gross receipts.
1953 Comp., § 72-16A-14.14, enacted by Laws 1969, ch. 144, § 49; 1970, ch. 27, § 1; 2000, ch. 26, § 1; 2000, ch. 87, § 1; 2019, ch. 49, § 1.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18507/index.do#!b/7-9-59Fetched: 10/20/2026