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2011 New Mexico Statutes
Chapter 7: Taxation
Article 11: Railroad Car Company Tax, 7-11-1 through 7-11-12
Section 7-11-3: Imposition of tax; tax rate; tax in lieu of property taxes.


NM Stat § 7-11-3 (1996 through 1st Sess 50th Legis) What's This?

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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