GOLD & SILVER SALE GRT DEDUCTION

This bill allows New Mexico businesses selling gold or silver coins or bullion to deduct those sales from their gross receipts tax (a tax on business sales) until July 1, 2031. It specifically defines "bullion" as metal bars, ingots, or commemorative medallions where value depends on metal content, not form. Taxpayers must report these deductions to the state, and the cost of the deduction will be tracked in annual tax expenditure reports. The bill applies directly to businesses engaged in selling qualifying gold or silver products.