NMSA 1978, § 7-14A-2 — Definitions

As used in the Leased Vehicle Gross Receipts Tax Act:

# A.

"department" means the taxation and revenue department, the secretary of
taxation and revenue or any employee of the department exercising authority lawfully
delegated to that employee by the secretary;

# B.

"engaging in business" means carrying on or causing to be carried on the leasing
of vehicles with the purpose of direct or indirect benefit;

# C.

"gross receipts" means the total amount of money or the value of other
consideration received from leasing vehicles used in New Mexico, but excludes cash
discounts allowed and taken, leased vehicle gross receipts tax payable on transactions
for the reporting period, gross receipts tax payable pursuant to the Gross Receipts and
Compensating Tax Act [Chapter 7, Article 9 NMSA 1978] on transactions for the
reporting period and taxes imposed pursuant to the provisions of any local option gross
receipts tax, as that term is defined in the Tax Administration Act [Chapter 7, Article 1
NMSA 1978], that is payable on transactions for the reporting period and any type of
time-price differential. Also excluded from "gross receipts" are any gross receipts or
sales taxes imposed by an Indian nation, tribe or pueblo, provided that the tax is
approved, if approval is required by federal law or regulation, by the secretary of the
interior of the United States, and provided further that the gross receipts or sales tax
imposed by the Indian nation, tribe or pueblo provides a reciprocal exclusion for gross
receipts, sales or gross receipts-based excise taxes imposed by the state or its political
subdivisions. In an exchange in which the money or other consideration received does
not represent the value of the lease of the vehicle, "gross receipts" means the
reasonable value of the lease of the vehicle. When the leasing of vehicles is made
under a leasing contract, the seller or lessor may elect to treat all receipts under those
contracts as gross receipts as and when the payments are actually received. "Gross
receipts" also includes amounts paid by members of any cooperative association or
similar organization for the lease of vehicles by that organization;

# D.

"leasing" means any arrangement whereby, for a consideration, a vehicle without
a driver furnished by the lessor or owner is employed for or by any person other than
the owner of the vehicle for a period of not more than six months;

# E.

"person" means any individual, estate, trust, receiver, cooperative association,
club, corporation, company, firm, partnership, joint venture, syndicate or other entity;
and

# F.

"vehicle" means a passenger automobile designed to accommodate six or fewer
adlt [adult] human beings that is part of a fleet of five or more passenger automobiles
owned by the same person.