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2018 New Mexico Statutes
Chapter 7 - Taxation
Article 14A - Leased Vehicle Gross Receipts Tax
Section 7-14A-5 - Separately stating the leased vehicle gross receipts tax.
Universal Citation: NM Stat § 7-14A-5 (2018)
7-14A-5. Separately stating the leased vehicle gross receipts tax.
When the leased vehicle gross receipts tax is stated separately on the books of the lessor and if the total amount of tax that is stated separately on transactions reportable within one reporting period is in excess of the amount of leased vehicle gross receipts tax otherwise payable on the transactions on which the tax was separately stated, the excess amount of tax stated on the transactions within that reporting period shall be included in gross receipts.
History: Laws 1991, ch. 197, § 9.
Effective dates. — Laws 1991, ch. 197, § 16 made Laws 1991, ch. 197, § 9 effective July 1, 1991.
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