Statutes > New Mexico Statutes > Chapter 7 - Taxation. > Article 9 - Gross Receipts and Compensating Tax, 7-9-1 through 7-9-114. > Section 7-9-70 - Deduction; gross receipts tax; rental or lease of vehicles used in interstate commerce.

Section 7-9-70 - Deduction; gross receipts tax; rental or lease of vehicles used in interstate commerce.

7-9-70. Deduction; gross receipts tax; rental or lease of vehicles used in interstate commerce.

Receipts from the rental or leasing of vehicles used in the transportation of passengers or property for hire in interstate commerce under the regulations or authorization of any agency of the United States may be deducted.