There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 7: Taxation
Article 14A: Leased Vehicle Gross Receipts Tax, 7-14A-1 through 7-14A-11
Section 7-14A-9: Exemption; vehicles titled before July 1, 1991.
NM Stat § 7-14A-9 (1996 through 1st Sess 50th Legis) What's This?
7-14A-9. Exemption; vehicles titled before July 1, 1991.
The receipts from the leasing by the owner of vehicles that were acquired by the owner prior to July 1, 1991 and with respect to which the excise tax pursuant to Section 7-14-3 NMSA 1978 was paid and a certificate of title issued prior to July 1, 1991 are exempt from the tax imposed by Section 7 [7-14A-3 NMSA 1978] of this act.
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