New Mexico legislation · 2026 Regular Session
New Mexico SB174: GOLD & SILVER SALE GRT DEDUCTION
Status: In committee, January 29, 2026
What the bill says
An act relating to taxation; providing a gross receipts tax deduction for the sale of gold and silver coins or bullion.
From the introduced text, January 28, 2026:
AN ACT RELATING TO TAXATION; PROVIDING A GROSS RECEIPTS TAX DEDUCTION FOR THE SALE OF GOLD AND SILVER COINS OR BULLION. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: SECTION 1. A new section of the Gross Receipts and Compensating Tax Act is enacted to read: "[NEW MATERIAL] DEDUCTION--GROSS RECEIPTS FROM THE SALE OF GOLD AND SILVER COINS OR BULLION.-- A. Prior to July 1, 2031, receipts from the sale of gold and silver coins or bullion may be deducted from gross receipts. B. A taxpayer allowed the deduction pursuant to this section shall report the amount of the deduction to the department in a manner required by the department. C. The deduction provided by this section shall be .233166.2 wen = lairetam derocsrednu eteled = ]lairetam detekcarb[ included in the tax expenditure budget pursuant to Section 7-1-84 NMSA 1978, including the annual aggregate cost of the deduction. D. As used in this section, "bullion" means a bar, an ingot or a commemorative medallion where the value of the metal depends on its content and not the form." SECTION 2. EFFECTIVE DATE.--The effective date of the provisions of this act is July 1, 2026. - 2 - .233166.2
Sponsors
- Candy Spence Ezzell (R, SD-032) · primary sponsor
Latest actions
- : SCC: Reported by committee to fall within the purview of a 30 day session
- : Sent to SCC - Referrals: SCC/STBTC/SFC
- : Action Postponed Indefinitely
Subjects: TAXATION, GROSS RECEIPTS & COMPENSATING
Common questions
- What is SB174?
- SB174 is a bill in the New Mexico Legislature (2026 Regular Session): GOLD & SILVER SALE GRT DEDUCTION.
- What does SB174 do?
- In its own words: An act relating to taxation; providing a gross receipts tax deduction for the sale of gold and silver coins or bullion.
- What is the status of SB174?
- In committee as of January 29, 2026. Latest action: SCC: Reported by committee to fall within the purview of a 30 day session (January 29, 2026).
- Who sponsored SB174?
- Candy Spence Ezzell (R, SD-032).
- Where is the official record for SB174?
- On the New Mexico Legislature website: https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legType=B&legNo=174&year=26
Source: official New Mexico record. Tracked by Delilah, AI for legislation across all 50 states and Congress.