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New Mexico: Gross Receipts Deduction Extended


 New Mexico State Capitol

The enactment of New Mexico Senate Bill 448 extends the end date of the deduction from gross receipts for receipts “from transitional acquisition programs performing research and development, test and evaluation at New Mexico major range and test facility bases pursuant to contracts entered into with the United States Department of Defense.” The new end date is June 30, 2025.

Additional information is available in the text of the bill.

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Gail Cole
Avalara Author
Gail Cole
Gail Cole
Avalara Author Gail Cole
Gail began researching and writing about sales tax in 2012 and has been fascinated with it ever since. She has a penchant for uncovering unusual tax facts, and endeavors to make complex sales tax laws more digestible for both experts and laypeople.