summary
Introduced
01/20/2022
01/20/2022
In Committee
01/24/2022
01/24/2022
Crossed Over
Passed
Dead
02/17/2022
02/17/2022
Introduced Session
2022 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; EXCLUDING OIL AND GAS PRODUCTION SERVICES FROM DESTINATION-BASED SOURCING RULES FOR PURPOSES OF DETERMINING GROSS RECEIPTS TAX LIABILITY; DECLARING AN EMERGENCY.
AI Summary
This bill amends the law to exclude oil and gas production services from the destination-based sourcing rules for determining gross receipts tax liability in New Mexico. The bill provides a definition of "oil and gas production services" and specifies that the business location for reporting gross receipts from these services shall be the New Mexico location of the performer or seller, rather than the location where the service is delivered. The bill also includes an emergency clause, making the provisions effective either on April 1, 2022 or June 1, 2022, depending on when the bill takes effect.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Senate Tax, Business and Transportation Committee (00:00 2/5/2022 Room 321) (on 02/05/2022)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=136&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/senate/SB0136.pdf |
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