There Is a Newer Version
of
the New Mexico Statutes
2011 New Mexico Statutes
Chapter 7: Taxation
Article 11: Railroad Car Company Tax, 7-11-1 through 7-11-12
Section 7-11-4: Situs of railway cars; gross earnings.
Universal Citation:
NM Stat § 7-11-4 (1996 through 1st Sess 50th Legis)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
7-11-4. Situs of railway cars; gross earnings.
A. For the purpose of taxation, any railway car owned by an organization and used exclusively within this state or used partially within and partially without this state has situs within this state.
B. The term "gross earnings" shall be construed to mean all earnings on business beginning and ending within this state and on a proportion, based on the division of mileage in this state by the entire mileage over which business is done, of all interstate business passing through, into or out of this state.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
