7-1-6.52. Distribution adjustment; tax administration suspense
72 words·~1 min read·
/nm/chapter-7-taxation/article-1-administration/7-1-6-52·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
fund; credit for certain sales of services for resale.
Distributions from the tax administration suspense fund to the general fund of revenue attributable to the gross receipts tax or to the governmental gross receipts tax shall be adjusted for credits issued pursuant to the Gross Receipts and Compensating Tax Act [Chapter 7, Article 9 NMSA 1978] for receipts from the sale of services for resale.
History: Laws 2005, ch. 104, § 1.