NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-11-4
Situs of railway cars; gross earnings
Official textnmonesource.comlast amended
# A.
For the purpose of taxation, any railway car owned by an organization and used exclusively within this state or used partially within and partially without this state has situs within this state.
# B.
The term "gross earnings" shall be construed to mean all earnings on business beginning and ending within this state and on a proportion, based on the division of mileage in this state by the entire mileage over which business is done, of all interstate business passing through, into or out of this state.
Amendment history
1978 Comp., § 7-11-4, enacted by Laws 1982, ch. 18, § 20.
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