# N.M. Stat. § 7-9-2: Purpose

> New Mexico · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NM_C7_A9_S7-9-2

## Section

- **Citation:** N.M. Stat. § 7-9-2
- **Heading:** Purpose
- **Jurisdiction:** New Mexico
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** NM Code / Chapter 7 / Article 9 / Section 7-9-2

## Text

The purpose of the Gross Receipts and Compensating Tax Act is to provide revenue for public purposes by levying a tax on the privilege of engaging in certain activities within New Mexico and to protect New Mexico businessmen from the unfair competition that would otherwise result from the importation into the state of property without payment of a similar tax.

## Nearby sections

- [N.M. Stat. § 7-9-1 § 7-9-1. Short title](https://www.frixlaw.com/law-library/statutes/STATE_NM_STATUTES_C7_A9_S7-9-1.md)
- [N.M. Stat. § 7-9-1 § 7-9-1. Short title](https://www.frixlaw.com/law-library/statutes/STATE_NM_C7_A9_S7-9-1.md)
- [N.M. Stat. § 7-9-2 § 7-9-2. Purpose](https://www.frixlaw.com/law-library/statutes/STATE_NM_STATUTES_C7_A9_S7-9-2.md)
- [N.M. Stat. § 7-9-2 § 7-9-2. Purpose](https://www.frixlaw.com/law-library/statutes/STATE_NM_C7_A9_S7-9-2.md)
- [N.M. Stat. § 7-9-3 § 7-9-3. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_NM_STATUTES_C7_A9_S7-9-3.md)
- [N.M. Stat. § 7-9-3 § 7-9-3. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_NM_C7_A9_S7-9-3.md)
- [N.M. Stat. § 7-9-3.2 § 7-9-3.2. Additional definition](https://www.frixlaw.com/law-library/statutes/STATE_NM_STATUTES_C7_A9_S7-9-3.2.md)
- [N.M. Stat. § 7-9-3.2 § 7-9-3.2. Additional definition](https://www.frixlaw.com/law-library/statutes/STATE_NM_C7_A9_S7-9-3.2.md)
- [N.M. Stat. § 7-9-3.3 § 7-9-3.3. Definition; engaging in business](https://www.frixlaw.com/law-library/statutes/STATE_NM_C7_A9_S7-9-3.3.md)
- [N.M. Stat. § 7-9-3.3 § 7-9-3.3. Definition; engaging in business](https://www.frixlaw.com/law-library/statutes/STATE_NM_STATUTES_C7_A9_S7-9-3.3.md)
- [N.M. Stat. § 7-9-3.4 § 7-9-3.4. Definitions; construction, construction materials and construction-related services](https://www.frixlaw.com/law-library/statutes/STATE_NM_STATUTES_C7_A9_S7-9-3.4.md)
- [N.M. Stat. § 7-9-3.4 § 7-9-3.4. Definitions; construction, construction materials and construction-related services](https://www.frixlaw.com/law-library/statutes/STATE_NM_C7_A9_S7-9-3.4.md)
- [N.M. Stat. § 7-9-3.5 § 7-9-3.5. Definition; gross receipts](https://www.frixlaw.com/law-library/statutes/STATE_NM_C7_A9_S7-9-3.5.md)
- [N.M. Stat. § 7-9-3.5 § 7-9-3.5. Definition; gross receipts](https://www.frixlaw.com/law-library/statutes/STATE_NM_STATUTES_C7_A9_S7-9-3.5.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NM_C7_A9_S7-9-2. Check the current official text before relying on it. Not legal advice.