NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-11-3
Imposition of tax; tax rate; tax in lieu of property taxes
Official textnmonesource.comlast amended
# 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.
Amendment history
1978 Comp., § 7-11-3, enacted by Laws 1982, ch. 18, § 19; 1987, ch. 108, § 1; 1997, ch. 92, § 1.
Source: official source (NMSA chapter on nmonesource.com)
In this article (6 sections)
- 7-11-1 · Short title
- 7-11-2 · Definitions
- 7-11-3 · Imposition of tax; tax rate; tax in lieu of property taxes
- 7-11-4 · Situs of railway cars; gross earnings
- 7-11-5 · 7-11-5
- 7-11-6 · Liability of organizations