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  • 55 - State OF NEW Mexico - , 2022: TH Legislature Second Session

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    Algernon D'Ammassa
    2K views3 pages
    Bill sponsored by state Reps. Matthew McQueen and Jason Harper to include spaceflight tickets in Gross Receipts Taxes.

    Original Title

    H.B. 72 New Mexico 2022 session

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    Bill sponsored by state Reps. Matthew McQueen and Jason Harper to include spaceflight tickets in Gross Receipts Taxes.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    2K views3 pages

    55 - State OF NEW Mexico - , 2022: TH Legislature Second Session

    Uploaded by

    Algernon D'Ammassa
    Bill sponsored by state Reps. Matthew McQueen and Jason Harper to include spaceflight tickets in Gross Receipts Taxes.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 3

    1 HOUSE BILL 72

    2 55TH LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 2022


    3 INTRODUCED BY

    4 Matthew McQueen and Jason C. Harper

    10 AN ACT

    11 RELATING TO TAXATION; CLARIFYING THAT RECEIPTS FROM THE SALE OF

    12 TICKETS OR SERVICES FOR TRANSPORTING ANY PERSON INTO OR NEAR

    13 SPACE MAY NOT BE DEDUCTED PURSUANT TO A GROSS RECEIPTS TAX

    14 DEDUCTION FOR CERTAIN SPACE AND SPACEPORT SERVICES.

    15

    16 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:


    [bracketed material] = delete

    17 SECTION 1. Section 7-9-54.2 NMSA 1978 (being Laws 1995,


    underscored material = new

    18 Chapter 183, Section 2, as amended) is amended to read:

    19 "7-9-54.2. GROSS RECEIPTS--DEDUCTION--SPACEPORT

    20 OPERATION--SPACE OPERATIONS--LAUNCHING, OPERATING AND

    21 RECOVERING SPACE VEHICLES OR PAYLOADS--PAYLOAD SERVICES--

    22 OPERATIONALLY RESPONSIVE SPACE PROGRAM SERVICES.--

    23 A. Receipts from launching, operating or recovering

    24 space vehicles or payloads in New Mexico, except for the sale

    25 of tickets or services for transporting any person into or near

    .221353.2
    1 space, may be deducted from gross receipts.

    2 B. Receipts from preparing a payload in New Mexico

    3 are deductible from gross receipts.

    4 C. Receipts from operating a spaceport in New

    5 Mexico are deductible from gross receipts.

    6 D. Receipts from the provision of research,

    7 development, testing and evaluation services for the United

    8 States air force operationally responsive space program may be

    9 deducted from gross receipts.

    10 E. As used in this section:

    11 (1) "operationally responsive space program"

    12 means a program authorized pursuant to 10 U.S.C. 2273a;

    13 (2) "payload" means a system, subsystem or

    14 other mechanical structure or material to be conveyed into

    15 space that is designed, constructed or intended to perform a

    16 function in space;
    [bracketed material] = delete

    17 (3) "space" means any location beyond


    underscored material = new

    18 altitudes of sixty thousand feet above the earth's mean sea

    19 level;

    20 (4) "space operations" means the process of

    21 commanding and controlling payloads in space; and

    22 (5) "spaceport" means an installation and

    23 related facilities used for the launching, landing, operating,

    24 recovering, servicing and monitoring of vehicles capable of

    25 entering or returning from space.

    .221353.2
    - 2 -
    1 F. Receipts from the sale of tangible personal

    2 property that will become an ingredient or component part of a

    3 construction project or from performing construction services

    4 may not be deducted under this section."

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    [bracketed material] = delete

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    underscored material = new

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    .221353.2

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