Section 7-9C-8 - Deductions; telecommunications providers. - New Mexico Statutes

7-9C-8. Deductions; telecommunications providers.

A.     Receipts from interstate telecommunications services that are provided by a corporation to itself or to an affiliated corporation may be deducted from interstate telecommunications gross receipts.   

B.     For the purposes of this section:   

(1)     "affiliated corporation" means a corporation that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with the subject corporation; and   

(2)     "control" means ownership of stock in a corporation that represents at least eighty percent of the total voting power of the corporation and has a value equal to at least eighty percent of the total value of the stock of that corporation.