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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-14A-3

7-14A-3

Official textnmonesource.comlast amended

Imposition and rate of tax; denomination as "leased vehicle gross receipts tax".

# A.

For the privilege of engaging in business, an excise tax equal to five percent of gross receipts is imposed on any person engaging in business in New Mexico.

# B.

The tax imposed by this section shall be referred to as the "leased vehicle gross receipts tax".

Amendment history

Laws 1991, ch. 197, § 7.

Source: official source (NMSA chapter on nmonesource.com)

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In this article (12 sections)
  1. 7-14A-1 · Short title
  2. 7-14A-2 · Definitions
  3. 7-14A-3 · 7-14A-3
  4. 7-14A-3.1 · Imposition and rate; leased vehicle surcharge
  5. 7-14A-4 · Presumption of taxability
  6. 7-14A-5 · Separately stating the leased vehicle gross receipts tax
  7. 7-14A-6 · Date payment due
  8. 7-14A-7 · Deduction; transactions in interstate commerce
  9. 7-14A-8 · Deduction; trade-in allowance
  10. 7-14A-9 · Repealed
  11. 7-14A-10 · Distribution of proceeds
  12. 7-14A-11 · Administration
Full table of contents →