Agricultural Business Tax Deductions and Exemptions « Back to Search Results
Agricultural Business Tax Deductions and Exemptions

Category: State Incentives, Tax Incentives


Gross receipts tax deductions are available for selling to agribusinesses:

  1. Feed for livestock, including the baling wire or twine used to contain the feed, fish raised for human consumption, poultry or animals raised for hides or pelts and seeds, roots, bulbs, plants, soil conditioners, fertilizers, insecticides, germicides, insects, fungicides, weedicides and water for irrigation
  2. Warehousing, threshing, cleaning, harvesting, growing, cultivating or processing agricultural products including ginning cotton, and testing and transporting milk. Gross receipts tax exemptions are permitted for feeding, pasturing, penning, handling or training livestock and, for agribusinesses, selling livestock, live poultry and unprocessed agricultural products, hides and pelts.
     

Contacts

New Mexico Economic Development Department
http://www.gonm.biz/businessresources/Incentives.aspx