0001| SENATE WAYS AND MEANS COMMITTEE SUBSTITUTE FOR | 0002| SENATE BILL 1271 | 0003| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0004| | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE; | 0013| IMPOSING A REPORTING REQUIREMENT ON CERTAIN PERSONS WHOSE GROSS | 0014| RECEIPTS ARE WHOLLY OR PARTIALLY EXEMPT OR DEDUCTIBLE FROM THE | 0015| GROSS RECEIPTS TAX OR COMPENSATING TAX. | 0016| | 0017| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0018| Section 1. A new section of the Gross Receipts and | 0019| Compensating Tax Act is enacted to read: | 0020| "[NEW MATERIAL] REPORTING REQUIREMENT.-- | 0021| A. Any person whose gross receipts are exempt or | 0022| deductible in whole or in part from the gross receipts tax or | 0023| the compensating tax pursuant to the sections of the NMSA 1978 | 0024| listed in Subsection B of this section shall report to the | 0025| department on or before September 1 of each year the amount of | 0001| their total gross receipts for the prior fiscal year, the | 0002| amount of those gross receipts that were not taxable and the | 0003| exemptions or deductions pursuant to which the receipts were | 0004| not taxable. | 0005| B. The provisions of this section apply to persons | 0006| whose gross receipts are wholly or partially exempt or | 0007| deductible pursuant to Sections 7-9-15, 7-9-16, 7-9-18, 7-9-20, | 0008| 7-9-29, 7-9-39, Subsection A of Section 7-9-40 and Sections | 0009| 7-9-62 through 7-9-65, 7-9-73.1 and 7-9-83 through 7-9-85 NMSA | 0010| 1978. | 0011| C. Upon the request of any public entity, the | 0012| department may provide aggregated information gathered from the | 0013| reports submitted pursuant to this section, but shall not | 0014| provide taxpayer-specific information unless the information is | 0015| already public information or the taxpayer has waived his right | 0016| to confidentiality pursuant to Section 7-1-8 NMSA 1978." | 0017|  |