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.
The 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.
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.