2020 New Mexico Statutes
Chapter 7 - Taxation
Article 14A - Leased Vehicle Gross Receipts Tax
Section 7-14A-3 - Imposition and rate of tax; denomination as "leased vehicle gross receipts tax".

Universal Citation: NM Stat § 7-14A-3 (2020)

A. For the privilege of engaging in business, an excise tax equal to five percent of gross receipts is imposed on any person engaging in business in New Mexico.

B. The tax imposed by this section shall be referred to as the "leased vehicle gross receipts tax".

History: Laws 1991, ch. 197, § 7.


Effective dates. — Laws 1991, ch. 197, § 16 made Laws 1991, ch. 197, § 7 effective July 1, 1991.

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