HOUSE BILL 24
51st legislature - STATE OF NEW MEXICO - second session, 2014
RELATING TO TAXATION; PROVIDING FOR A DEDUCTION FROM GROSS RECEIPTS FOR SALES OF CERTAIN COMMERCIAL OR MILITARY CARRIERS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. Section 7-9-62.1 NMSA 1978 (being Laws 2000 (2nd S.S.), Chapter 4, Section 2, as amended) is amended to read:
"7-9-62.1. DEDUCTION--GROSS RECEIPTS TAX--AIRCRAFT AND AIRCRAFT SERVICES.--Receipts from the sale of or from maintaining, refurbishing, remodeling or otherwise modifying a commercial or military carrier over ten thousand pounds gross landing weight may be deducted from gross receipts."
SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2014.