Statutes > New Mexico Statutes > Chapter 7 - Taxation. > Article 9 - Gross Receipts and Compensating Tax, 7-9-1 through 7-9-114. > Section 7-9-97 - Deduction; gross receipts tax; receipts from certain purchases by or on behalf of the state.

Section 7-9-97 - Deduction; gross receipts tax; receipts from certain purchases by or on behalf of the state.

7-9-97. Deduction; gross receipts tax; receipts from certain purchases by or on behalf of the state.

Receipts from the sale of property or services purchased by or on behalf of the state from funds obtained from the forfeiture of financial assurance pursuant to the New Mexico Mining Act [69-36-1 NMSA 1978] or the forfeiture of financial responsibility pursuant to the Water Quality Act [74-6-1 NMSA 1978] may be deducted from gross receipts.