us-nm/stat

NMSA 1978, § 7-11-3 — Imposition of tax; tax rate; tax in lieu of property taxes

A.

There is imposed on the gross earnings of each organization for the 1996 and
subsequent calendar years a tax of one and one-half percent.

B.

The tax imposed in Subsection A of this section is in lieu of all property taxes on
railway cars owned by an organization.

Last amended: 1978 Comp., § 7-11-3, enacted by Laws 1982, ch. 18, § 19; 1987, ch. 108, § 1; 1997, ch. 92, § 1.

Source: official text