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2019 New Mexico Statutes
Chapter 7 - Taxation
Article 11 - Railroad Car Company Tax
Section 7-11-6 - Liability of organizations.
Universal Citation: NM Stat § 7-11-6 (2019)
Every organization is liable for any difference between an amount equal to the product of the tax rate specified in Subsection A of Section 7-11-3 NMSA 1978 multiplied by its gross earnings and the sum of withheld taxes remitted for that organization by one or more railroad companies for that year.
History: 1978 Comp., § 7-11-6, enacted by Laws 1982, ch. 18, § 22; 1988, ch. 95, § 3.
ANNOTATIONSRepeals and reenactments. — Laws 1982, ch. 18, § 22, repealed former 7-11-6 NMSA 1978, relating to limitations on the amount of tax to be imposed on railroad car companies such that it shall not exceed the ad valorem rate, and enacted a new section.
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