Section 10. Deductions From Gross Receipts

The deductions provided by Sections 7-9-46 through 7-9-78.1 and 7-9-83 through 7-9-90 NMSA 1978 apply only to those receipts which are included in and defined as gross receipts pursuant to Section 7-9-3 NMSA 1978. [10/21/1986, 11/26/1990, 11/15/1996; 3.2.203.10 NMAC - Rn, 3 NMAC 2.45.10 & A, 5/31/2001] 3.2.203.11 DEDUCTIONS OF GROSS RECEIPTS OF MARKETPLACE PROVIDERS AND MARKETPLACE SELLERS: Under Section 7-9-3.5 NMSA 1978, marketplace sellers may have gross receipts from selling, leasing or licensing property or selling services in the state and marketplace providers may have 3.2.203 NMAC 2 receipts from receipts collected from selling, leasing, licensing property or selling services. The deductions provided in the Gross Receipts and Compensating Tax Act apply to the gross receipts of marketplace sellers and marketplace providers to the extent that the sale, lease or licensing of property or selling of services would be deductible.