Bill > HB350

This bill provides a gross receipts tax deduction for the sale of movie tickets and concessions by movie theaters in New Mexico. The deduction is available until July 1, 2025, and requires movie theaters to report the amount of the deduction separately to the state department. The department is also required to compile an annual report on the deduction, including the number of taxpayers that claimed it, the aggregate amount of deductions claimed, and an analysis of the cost of the deduction. The bill defines key terms such as "concessions," "movie," "movie theater," and "movie ticket." The effective date of the bill is July 1, 2021.

Budget and Finance, Business and Industry

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=350&year=21