46th legislature - STATE OF NEW MEXICO - first session, 2003
RELATING TO TAXATION; PROVIDING A DEDUCTION FROM GROSS RECEIPTS FOR CERTAIN RECEIPTS FROM PROVIDING CHILD DAYCARE SERVICES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. A new section of the Gross Receipts and Compensating Tax Act is enacted to read:
"[NEW MATERIAL] DEDUCTION--GROSS RECEIPTS TAX--CHILD DAYCARE SERVICES.--Receipts from providing child daycare services pursuant to a contract with the children, youth and families department may be deducted from gross receipts."
Section 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2003.
.143269.1