SENATE BILL 552

50th legislature - STATE OF NEW MEXICO - first session, 2011

INTRODUCED BY

Pete Campos

AN ACT

RELATING TO TAXATION; CLARIFYING THE MEANING OF "LIVESTOCK".

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

     SECTION 1. Section 7-9-18 NMSA 1978 (being Laws 1969, Chapter 144, Section 11, as amended) is amended to read:

     "7-9-18. EXEMPTION--GROSS RECEIPTS TAX AND GOVERNMENTAL GROSS RECEIPTS TAX--AGRICULTURAL PRODUCTS.--

          A. Exempted from the gross receipts tax and from the governmental gross receipts tax are the receipts from selling livestock and receipts of growers, producers, trappers or nonprofit marketing associations from selling livestock, live poultry, unprocessed agricultural products, hides or pelts. Persons engaged in the business of buying and selling wool or mohair or of buying and selling livestock on their own account are producers for the purposes of this section.

          B. Receipts from selling dairy products at retail are not exempted from the gross receipts tax.

          C. As used in this section, "livestock" means all domestic or domesticated animals that are used or raised on a farm or ranch, including horses, asses, mules, cattle, sheep, goats, swine, bison, poultry, ostriches, emus, rheas, camelids and farmed cervidae upon any land in New Mexico and the carcasses thereof, but does not include canine or feline animals."

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