Section 7-9-59 - Deduction; gross receipts tax; warehousing, threshing, harvesting, growing, cultivating and processing agricultural products. - New Mexico Statutes

7-9-59. Deduction; gross receipts tax; warehousing, threshing, harvesting, growing, cultivating and processing agricultural products.

A.     Receipts from warehousing grain or other agricultural products may be deducted from gross receipts.   

B.     Receipts from threshing, cleaning, growing, cultivating or harvesting agricultural products, including the ginning of cotton, testing and transporting milk for the producer or nonprofit marketing association from the farm to a milk processing or dairy product manufacturing plant or processing for growers, producers or nonprofit marketing associations of agricultural products raised for food and fiber, including livestock, may be deducted from gross receipts.