Bill > SB212

This bill creates new exemptions from state gross receipts tax, which is a tax on the total amount of a business's receipts, for certain transactions related to ski areas. Specifically, it exempts the sale of "qualified ski area equipment," which includes heavy machinery like trail groomers, bulldozers, and snowmaking systems used exclusively at a ski area, when sold to a ski area operator. It also exempts the sale of construction projects that involve improving or building a structure on a ski area. The bill clarifies that these exemptions apply only to the state gross receipts tax, not to local taxes. Additionally, it amends existing laws to allow businesses engaged in construction to deduct the sale of construction materials and services when those materials or services are incorporated into a construction project sold to a ski area operator that qualifies for the new exemption. The bill defines "ski area" as the property managed by a "ski area operator," which is any entity responsible for operating a ski area or ski lift. These changes are set to take effect on July 1, 2026.

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=212&year=26