On April 28, 2020, the Department assessed the Taxpayer for gross receipts tax, penalty, and interest. On July 1, 2020, the Taxpayer filed a formal protest of the assessment. The Taxpayer’s protest addresses three issues: (1) is the loan in question “gross receipts”; (2) is the refund of a capital investment in another business “gross receipts”; (3) are reimbursements paid to Taxpayer by affiliated entities for use of a credit card “gross receipts.” For the purposes of this protest the Hearing Officer looked to the definition of “gross receipts” in Section 7-9-3.5 NMSA 1978. Based on the facts provided, the Hearing Officer determined that the loan is not gross receipts, the return of capital investment is not gross receipts, that the records associated with the credit card reimbursements were not eligible to more adjustments than the Department had already made when disclosed agency was found and that penalty should not be abated. The Hearing Officer decided that the protest is to be granted in part and denied in part.