There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 7: Taxation
Article 14: Motor Vehicle Excise Tax, 7-14-1 through 7-14-11
Section 7-14-7: Credit against tax.
NM Stat § 7-14-7 (1996 through 1st Sess 50th Legis) What's This?
7-14-7. Credit against tax.
If a vehicle has been acquired through an out-of-state transaction upon which a gross receipts, sales, compensating or similar tax was levied by another state or political subdivision thereof, the amount of the tax paid may be credited against the tax due this state on the same vehicle.
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