US lawNew MexicoStatutesChapter 7Article 97-9-12N.M. Stat. § 7-9-12§ 7-9-12. ExemptionsYear: 2026Length: 23 wordsExemptions from either the gross receipts tax or the compensating tax are not exemptions from both taxes unless explicitly stated otherwise by law.PreviousN.M. Stat. § 7-9-11NextN.M. Stat. § 7-9-12