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2019 New Mexico Statutes
Chapter 7 - Taxation
Article 14A - Leased Vehicle Gross Receipts Tax
Section 7-14A-4 - Presumption of taxability.
Universal Citation: NM Stat § 7-14A-4 (2019)
To prevent evasion of the leased vehicle gross receipts tax and the leased vehicle surcharge and to aid in their administration, it is presumed that all receipts of a person engaging in business are subject to the leased vehicle gross receipts tax and that all vehicles leased by that person are subject to the leased vehicle surcharge.
History: Laws 1991, ch. 197, § 8; 1993, ch. 359, § 2.
ANNOTATIONSThe 1993 amendment, effective July 1, 1993, inserted "and the leased vehicle surcharge", added the language beginning "and that all vehicles" at the end of the section, and made a minor stylistic change.
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