N.M. Admin. Code § 3.2.227.11
Current through Register Vol. 36, No. 1, January 14, 2025
A person reporting gross receipts or governmental gross receipts on an accrual basis is entitled to deduct amounts written off the books as an uncollectible debt for the amount credited to the buyer from whom the property was repossessed. Receipts from a subsequent sale of the same property are subject to the gross receipts tax or governmental gross receipts.
N.M. Admin. Code § 3.2.227.11