us-nm/stat

NMSA 1978, § 7-12-3.2 — Cigarette inventories

A.

At the close of business on the day prior to any date on which the cigarette tax
imposed by Section 7-12-3 NMSA 1978 is increased, each distributor shall take
inventory of tax-exempt stamps, tax-credit stamps and tax stamps on hand, including
stamps affixed to packages of cigarettes.

B.

Each distributor shall report the total number of tax-exempt stamps, tax-credit
stamps and tax stamps in inventory at the close of business on the day prior to the date
on which the cigarette tax increases and pay the cigarette inventory tax due.

Last amended: 1978 Comp., § 7-12-3.2, enacted by Laws 1986, ch. 13, § 4; 2006, ch. 91, § 3; 2010 (2nd S.S.), ch. 5, § 5.

Source: official text