Receipts from transactions in interstate commerce may be deducted from gross receipts to the extent that the imposition of the leased vehicle gross receipts tax would be unlawful under the United States constitution.
History: Laws 1991, ch. 197, § 11.
Effective dates. — Laws 1991, ch. 197, § 16 made Laws 1991, ch. 197, § 11 effective July 1, 1991.
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.