There Is a Newer Version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 7: Taxation
Article 9: Gross Receipts and Compensating Tax, 7-9-1 through 7-9-114
Section 7-9-23: Exemption; compensating tax; vehicles.
NM Stat § 7-9-23 (1996 through 1st Sess 50th Legis) What's This?
7-9-23. Exemption; compensating tax; vehicles.
Exempted from the compensating tax is the use of vehicles on which the tax imposed by the Motor Vehicle Excise Tax Act [7-14-1 NMSA 1978] has been paid, the use of vehicles subject to registration under Section 66-3-16 NMSA 1978 and the use of vehicles exempt from the motor vehicle excise tax pursuant to Subsection F of Section 7-14-6 NMSA 1978.
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