Section 7-9-18 - Exemption; gross receipts tax and governmental gross receipts tax; agricultural products. - New Mexico Statutes

7-9-18. Exemption; gross receipts tax and governmental gross receipts tax; agricultural products.

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.   

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