New Mexico Statutes
§ 7-14A-3 — 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".
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Legislative History
Laws 1991, ch. 197, § 7.
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Repealed§ 7-1-13.3
Repealed§ 7-1-13.4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