NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-24-5
7-24-5
[Assignment and transfer of license; effect.]
In case of the assignment and transfer of any license under the provisions of Section
702 (c) or 702 (f) of this act, no refund shall be made by any municipality or county to the original licensee for the unexpired portion of such license, but such assignment and transfer shall vest in the assignee and transferee the right to operate under the license tax so paid by the original licensee for the period covered by the paid license tax and to pay the balance of such license tax upon the same terms and conditions as if such assignee or transferee were the original licensee.
Amendment history
Laws 1939, ch. 236, § 1108; 1941 Comp., § 61-406; 1953 Comp., § 46-4-6.
Source: official source (NMSA chapter on nmonesource.com)
In this article (17 sections)
- 7-24-1 · License tax imposed by municipalities
- 7-24-2 · License tax imposed by boards of county commissioners
- 7-24-3 · 7-24-3
- 7-24-4 · 7-24-4
- 7-24-5 · 7-24-5
- 7-24-6 · Repealed
- 7-24-7 · Repealed
- 7-24-8 · Short title
- 7-24-9 · Definitions
- 7-24-10 · 7-24-10
- 7-24-10.1 · 7-24-10.1
- 7-24-11 · Date payment due
- 7-24-12 · Exemption
- 7-24-13 · Exemption; purchases for resale
- 7-24-14 · Refund or credit of tax
- 7-24-15 · Administrative charge
- 7-24-16 · 7-24-16