0001|                            SENATE BILL 19
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0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0003|                            INTRODUCED BY
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0004|                            Billy McKibben
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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|                                AN ACT
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0011|     RELATING TO TAXATION; PROVIDING GROSS RECEIPTS TAX DEDUCTIONS
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0012|     FOR RECEIPTS FROM SALE OF RADIO OR TELEVISION ADVERTISING TIME
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0013|     AND SALE OF NEWSPAPER OR MAGAZINE ADVERTISING SPACE.
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0014|     
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0015|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0016|          Section 1.  Section 7-9-55 NMSA 1978 (being Laws 1969,
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0017|     Chapter 144, Section 45, as amended) is amended to read:
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0018|          "7-9-55.  DEDUCTION--GROSS RECEIPTS TAX--GOVERNMENTAL
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0019|     GROSS RECEIPTS TAX--TRANSACTION IN INTERSTATE COMMERCE.--
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0020|               A.  Receipts from transactions in interstate
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0021|     commerce may be deducted from gross receipts to the extent
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0022|     that the imposition of the gross receipts tax would be
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0023|     unlawful under the United States constitution.
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0024|               B.  Receipts from transactions in interstate
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0025|     commerce may be deducted from governmental gross receipts.
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0001|               C.  Receipts from transmitting messages or
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0002|     conversations by radio other than from one point in this state
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0003|     to another point in this state and receipts from the sale of
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0004|     radio or television broadcast time <s>[when the advertising
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<s></s>0005| <s>    message is supplied by or on behalf of a national or regional
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<s></s>0006| <s>    seller or advertiser not having its principal place of
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<s></s>0007| <s>    business in or being incorporated under the laws of this
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<s></s>0008| <s>    state]</s>, <u>including the sale of radio or television
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<u></u>0009| <u>    advertising time</u>, may be deducted from gross receipts. 
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0010|     Commissions of advertising agencies from performing services
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0011|     in this state may not be deducted from gross receipts under
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0012|     this section."
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0013|          Section 2.  Section 7-9-63 NMSA 1978 (being Laws 1969,
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0014|     Chapter 144, Section 53) is amended to read:
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0015|          "7-9-63.  DEDUCTION--GROSS RECEIPTS TAX--PUBLICATION
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0016|     SALES.-- Receipts from publishing newspapers or magazines
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0017|     <s>[except from selling advertising space]</s> <u>and receipts from
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<u></u>0018| <u>    selling newspaper or magazine advertising space</u> may be
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0019|     deducted from gross receipts.  Receipts from selling magazines
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0020|     at retail may not be deducted from gross receipts."
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0021|          Section 3.  Section 7-9-64 NMSA 1978 (being Laws 1969,
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0022|     Chapter 144, Section 54) is amended to read:
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0023|          "7-9-64.  DEDUCTION--GROSS RECEIPTS TAX--NEWSPAPER
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0024|     SALES.--Receipts from selling newspapers <s>[except from selling
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<s></s>0025| <s>    advertising space]</s> may be deducted from gross receipts."
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0001|          Section 4.  EFFECTIVE DATE.--The effective date of the
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0002|     provisions of this act is July 1, 1998.
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0003|                              
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