At the end of each month, the net receipts attributable to the leased vehicle gross receipts tax and any associated penalties and interest shall be distributed as follows:
A. one-fourth to the local governments road fund; and
B. three-fourths to the highway infrastructure fund.
History: Laws 1991, ch. 197, § 14; 1999 (1st S.S.), ch. 9, § 1.
The 1999 amendment, effective July 1, 1999, substituted present Subsections A and B for former Subsections A and B, relating to the manner of distribution of the net receipts.
Structure 2021 New Mexico Statutes
Article 14A - Leased Vehicle Gross Receipts Tax
Section 7-14A-1 - Short title.
Section 7-14A-2 - Definitions.
Section 7-14A-3 - Imposition and rate of tax; denomination as "leased vehicle gross receipts tax".
Section 7-14A-3.1 - Imposition and rate; leased vehicle surcharge.
Section 7-14A-4 - Presumption of taxability.
Section 7-14A-5 - Separately stating the leased vehicle gross receipts tax.
Section 7-14A-6 - Date payment due.
Section 7-14A-7 - Deduction; transactions in interstate commerce.
Section 7-14A-8 - Deduction; trade-in allowance.
Section 7-14A-9 - Exemption; vehicles titled before July 1, 1991.