New Mexico Statutes
§ 7-11-3 — Imposition of tax; tax rate; tax in lieu of property taxes
A.There is imposed on the gross earnings of each organization for the 1996 and subsequent calendar years a tax of one and one-half percent.
B.The tax imposed in Subsection A of this section is in lieu of all property taxes on railway cars owned by an organization.
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New Mexico § 7-11-3 (Imposition of tax; tax rate; tax in lieu of property taxes) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1978 Comp., § 7-11-3, enacted by Laws 1982, ch. 18, § 19; 1987, ch. 108, § 1;
Nearby Sections
15
§ 7-1-1
Short title§ 7-1-11.1
Managed audits§ 7-1-11.2
Required audit notices§ 7-1-12
Identification of taxpayers§ 7-1-13.1
Method of payment of certain taxes due§ 7-1-13.2
Repealed§ 7-1-13.3
Repealed§ 7-1-13.4
Electronic payments; reversals