Statutes > New Mexico Statutes > Chapter 7 - Taxation. > Article 9 - Gross Receipts and Compensating Tax, 7-9-1 through 7-9-114. > Section 7-9-26.1 - Exemption; gross receipts tax and compensating tax; fuel for space vehicles.

Section 7-9-26.1 - Exemption; gross receipts tax and compensating tax; fuel for space vehicles.

7-9-26.1. Exemption; gross receipts tax and compensating tax; fuel for space vehicles.

A.     Exempted from the gross receipts tax are the receipts from selling fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers.   

B.     Exempted from the compensating tax is the use of fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers.