0001| HOUSE BILL 106
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0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003| INTRODUCED BY
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0004| PAULINE K. GUBBELS
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0005|
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0006|
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0007|
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0008| FOR THE REVENUE STABILIZATION AND TAX POLICY COMMITTEE
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0009|
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0010| AN ACT
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0011| RELATING TO TAXATION; PROVIDING A GROSS RECEIPTS TAX DEDUCTION
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0012| FOR RECEIPTS OF CERTAIN NONPROFIT ORGANIZATIONS; PROVIDING FOR
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0013| REPORTING AND PAYMENT OF TAXES; AMENDING AND ENACTING SECTIONS
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0014| OF THE NMSA 1978.
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0015|
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0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017| Section 1. Section 7-1-15 NMSA 1978 (being Laws 1969,
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0018| Chapter 31, Section 1, as amended) is amended to read:
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0019| "7-1-15. SECRETARY MAY SET TAX REPORTING AND PAYMENT
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0020| INTERVALS.--
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0021| A. The secretary may, pursuant to regulation,
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0022| allow taxpayers with an anticipated tax liability of less than
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0023| two hundred dollars ($200) a month or taxpayers who claim
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0024| gross receipts deductions pursuant to Section 7-9-85 or 7-9-
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0025| 85.1 NMSA 1978 to report and pay taxes at intervals [which]
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0001| that the secretary may specify. However, unless specifically
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0002| permitted by law, an interval shall not exceed six months,
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0003| except as provided in Subsection B of this section.
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0004| B. The secretary, pursuant to regulation, may
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0005| permit taxpayers who claim gross receipts deductions pursuant
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0006| to Sections 7-9-85 and 7-9-85.1 NMSA 1978 to report and pay
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0007| gross receipts and compensation tax liability annually."
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0008| Section 2. Section 7-9-39 NMSA 1978 (being Laws 1969,
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0009| Chapter 144, Section 32, as amended) is amended to read:
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0010| "7-9-39. EXEMPTION--GROSS RECEIPTS TAX--FEES FROM SOCIAL
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0011| ORGANIZATIONS.--
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0012| A. Exempted from the gross receipts tax are the
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0013| receipts from dues and registration fees of nonprofit social,
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0014| fraternal, political, trade, labor or professional
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0015| organizations and business leagues if the receipts are not
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0016| eligible for deduction from gross receipts pursuant to Section
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0017| 7-9-85.1 NMSA 1978.
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0018| B. For the purposes of this section:
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0019| (1) "dues" means amounts that a member of an
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0020| organization pays at recurring intervals to retain membership
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0021| in an organization where such amounts are used for the general
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0022| maintenance and upkeep of the organization; and
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0023| (2) "registration fees" means amounts paid by
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0024| persons to attend a specific event sponsored by an organization
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0025| to defray the cost of the event."
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0001| Section 3. Section 7-9-85 NMSA 1978 (being Laws 1994,
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0002| Chapter 43, Section 1) is amended to read:
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0003| "7-9-85. DEDUCTION--GROSS RECEIPTS TAX--CERTAIN
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0004| ORGANIZATION FUNDRAISERS.--Receipts from not more than two
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0005| fundraising events annually conducted by an organization that
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0006| is exempt from the federal income tax as an organization
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0007| described in Section 501(c), other than an organization
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0008| described in Section 501(c)(3), of the United States Internal
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0009| Revenue Code of 1986, as amended, may be deducted from gross
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0010| receipts if the receipts of the organization are not eligible
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0011| for deduction from gross receipts pursuant to Section 7-9-85.1
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0012| NMSA 1978."
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0013| Section 4. A new section of the Gross Receipts and
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0014| Compensating Tax Act, Section 7-9-85.1 NMSA 1978, is enacted to
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0015| read:
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0016| "7-9-85.1. [NEW MATERIAL] DEDUCTION--GROSS RECEIPTS
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0017| TAX--RECEIPTS OF CERTAIN NONPROFIT ORGANIZATIONS.--
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0018| A. Receipts of not more than eighty thousand
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0019| dollars ($80,000) of an organization may be deducted from gross
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0020| receipts if the organization:
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0021| (1) is exempt from the federal income tax as
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0022| an organization described in Section 501(c)(4) or 501(c)(10) of
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0023| the United States Internal Revenue Code of 1986, as amended;
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0024| (2) has gross receipts for the qualification
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0025| year of less than eighty thousand dollars ($80,000); and
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0001| (3) incurred less than ten percent of its
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0002| receipts in the qualification year for wages and salaries of
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0003| organization personnel.
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0004| B. In any period for which the receipts of an
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0005| organization may be deducted pursuant to this section:
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0006| (1) the organization shall not claim nor may
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0007| the department allow a deduction of the organization's receipts
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0008| during the period pursuant to Section 7-9-85 NMSA 1978; and
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0009| (2) any receipts of the organization from
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0010| gambling other than paper bingo and raffles shall not be
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0011| deducted from gross receipts.
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0012| C. For the purposes of this section, "qualification
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0013| year" means the organization's taxable year for federal income
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0014| tax purposes ending within six months prior to the beginning of
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0015| either the calendar or state fiscal year during which calendar
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0016| or fiscal year the organization claims or intends to claim the
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0017| deduction provided by this section."
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0018| Section 5. EFFECTIVE DATE.--The effective date of the
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0019| provisions of this act is July 1, 1997.
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0020| State of New Mexico
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0021| House of Representatives
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0022|
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0023| FORTY-THIRD LEGISLATURE
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0024| FIRST SESSION, 1997
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0025|
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0001|
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0002| March 18, 1997
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0003|
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0004|
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0005| Mr. Speaker:
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0006|
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0007| Your APPROPRIATIONS AND FINANCE COMMITTEE, to
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0008| whom has been referred
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0009|
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0010| HOUSE BILL 210, as amended
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0011|
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0012| has had it under consideration and reports same with
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0013| recommendation that it DO PASS.
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0014|
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0015| Respectfully submitted,
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0016|
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0017|
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0018|
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0019|
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0020|
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0021| Max Coll, Chairman
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0022|
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0023|
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0024| Adopted Not Adopted
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0025|
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0001| (Chief Clerk) (Chief Clerk)
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0002|
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0003| Date
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0004|
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0005| The roll call vote was 17 For 0 Against
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0006| Yes: 17
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0007| Excused: None
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0008| Absent: None
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0009|
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0010|
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0011| G:\BILLTEXT\BILLW_97\H0106
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0012|
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0013| FORTY-THIRD LEGISLATURE
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0014| FIRST SESSION, 1997
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0015|
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0016|
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0017| March 21, 1997
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0018|
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0019| Mr. President:
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0020|
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0021| Your WAYS AND MEANS COMMITTEE, to whom has been
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0022| referred
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0023|
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0024| HOUSE BILL 106
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0025|
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0001| has had it under consideration and reports same with
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0002| recommendation that it DO PASS.
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0003|
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0004| Respectfully submitted,
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0005|
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0006|
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0007|
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0008|
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0009| __________________________________
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0010| Carlos R. Cisneros, Chairman
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0011|
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0012|
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0013|
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0014| Adopted_______________________ Not
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0015| Adopted_______________________
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0016| (Chief Clerk) (Chief Clerk)
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0017|
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0018|
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0019|
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0020| Date ________________________
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0021|
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0022|
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0023| The roll call vote was 8 For 0 Against
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0024| Yes: 8
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0025| No: 0
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0001| Excused: McSorley
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0002| Absent: None
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0003|
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0004|
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0005| H0106WM1
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