us-nm/stat
NMSA 1978, § 7-13-3.2 — Gasoline inventories
A.
On the day prior to the day that the excise tax imposed by Section 7-13-3 NMSA
1978 is increased, each distributor, wholesaler and retailer shall take inventory of the
gallons of gasoline on hand.
B.
Distributors and wholesalers shall report total gallons of gasoline in inventory on
the day prior to the day that an increase in the gasoline tax rate is effective and pay any
tax due imposed by Section 7-13-3.1 NMSA 1978.
C.
Retailers shall maintain a record of the total gallons of gasoline in inventory on
the day prior to the day that an increase in the gasoline tax rate is effective and shall not
increase the price of the gasoline sold until the inventory is disposed of in the ordinary
course of business.
Source: official text