Pawn Transactions Exempt From New Mexico Gross Receipt Taxes
Added January 24th, 2014 · Updated March 8th, 2016
New Mexico Administrative Code
Title 3. TAXATION
Chapter 2. GROSS RECEIPTS TAXES
Part 113. EXEMPTION - GROSS RECEIPTS TAX - DIVIDENDS AND INTEREST
§ 3.2.113.9. PAWNBROKERS
Receipts of a person from engaging in pawn transactions, as that term is defined in Section 56-12-2 NMSA 1978, which are received as interest upon money loaned are exempt from the gross receipts tax pursuant to Section 7-9-25 NMSA 1978.
Title 3. TAXATION
Chapter 2. GROSS RECEIPTS TAXES
Part 113. EXEMPTION - GROSS RECEIPTS TAX - DIVIDENDS AND INTEREST
§ 3.2.113.9. PAWNBROKERS
Receipts of a person from engaging in pawn transactions, as that term is defined in Section 56-12-2 NMSA 1978, which are received as interest upon money loaned are exempt from the gross receipts tax pursuant to Section 7-9-25 NMSA 1978.
Laws change and requirements vary by state. This is general information and may be out of date. Check the official state sources, or ask a lawyer, before relying on it.
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