SENATE BILL 164

47th legislature - STATE OF NEW MEXICO - first session, 2005

INTRODUCED BY

Shannon Robinson

AN ACT

RELATING TO TAXATION; AMENDING THE GROSS RECEIPTS AND COMPENSATING TAX ACT TO REQUIRE NEWSPAPERS ALLOWED DEDUCTIONS UNDER THE ACT TO PUBLISH THE NAME AND HOMETOWN OF EACH DEAD OR WOUNDED SERVICE PERSONNEL THAT RESULTED FROM COMBAT OR OVERSEAS DEPLOYMENT.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     Section 1. Section 7-9-63 NMSA 1978 (being Laws 1969, Chapter 144, Section 53) is amended to read:

     "7-9-63. DEDUCTION--GROSS RECEIPTS TAX--PUBLICATION SALES.--Receipts from publishing newspapers or magazines, except from selling advertising space, may be deducted from gross receipts if the publisher publishes the name and hometown of each dead or wounded service personnel that resulted from combat or overseas deployment.

     Receipts from selling magazines at retail may not be deducted from gross receipts."

     Section 2. Section 7-9-64 NMSA 1978 (being Laws 1969, Chapter 144, Section 54) is amended to read:

     "7-9-64. DEDUCTION--GROSS RECEIPTS TAX--NEWSPAPER SALES.--Receipts from selling newspapers, except from selling advertising space, may be deducted from gross receipts if the publisher publishes the name and hometown of each dead or wounded service personnel that resulted from combat or overseas deployment."

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