NMSA 1978, § 7-11-5 — 7-11-5

Withholding and payment of tax; duty of railroads using or
leasing cars to make reports.
Every railroad company using or leasing the railway cars of any organization, upon
making payment to such organization for the use or lease of railway cars, shall withhold
from such payment an amount equal to the product of the tax rate specified in
Subsection A of Section 7-11-3 NMSA 1978 multiplied by the gross earnings. On or
before March 1 of each year, such railroad company shall report to the department on a
form prescribed by the department the amounts of such payments and the amounts
withheld for the preceding calendar year. The amounts withheld shall be remitted with
the report.