2015 New Mexico Statutes
Chapter 7 - Taxation
Section 1 Administration
Section 7-1-6.13 Transfer; revenues from county local option gross receipts taxes.

7-1-6.13. Transfer; revenues from county local option gross receipts taxes.

A. Except as provided in Subsection B of this section, a transfer pursuant to Section 7-1-6.1 NMSA 1978 shall be made to each county for which the department is collecting a local option gross receipts tax imposed by that county in an amount, subject to any increase or decrease made pursuant to Section 7-1-6.15 NMSA 1978, equal to the net receipts attributable to the local option gross receipts tax imposed by that county, less any deduction for administrative cost determined and made by the department pursuant to the provisions of the act authorizing imposition by that county of the local option gross receipts tax and any additional administrative fee withheld pursuant to Subsection C of Section 7-1-6.41 NMSA 1978.

B. A transfer pursuant to this section may be adjusted for a distribution made to a tax increment development district with respect to a portion of a gross receipts tax increment dedicated by a county pursuant to the Tax Increment for Development Act [Chapter 5, Article 15, NMSA 1978].

History: 1978 Comp., 7-1-6.13, enacted by Laws 1983, ch. 211, 18; 1986, ch. 20, 9; 1987, ch. 45, 9; 1989, ch. 326, 11; 1990, ch. 99, 47; 1991, ch. 176, 16; 1993, ch. 30, 2; 1997, ch. 125, 3; 2003, ch. 205, 1; 2005, ch. 338, 1; 2006, ch. 75, 32; 2008, ch. 51, 1; 2014, ch. 79, 1.