The department shall redeem unused or destroyed stamps at the price paid by the buyer, provided acceptable proof of such destruction is provided the department. It is presumed that the stamps presented for redemption were the last stamps bought in the month in which the sale of the stamps was made. If the month in which the sale was made is unknown, the amount to be paid by the department upon redemption shall be computed as if the stamps presented for redemption were the last stamps bought in the average monthly number of stamps bought during the preceding calendar year.
History: Laws 1943, ch. 95, § 12; 1941 Comp. Supp., § 76-1612; 1953 Comp., § 72-14-12; Laws 1970, ch. 70, § 6; reenacted as 1953 Comp., § 72-14-8 by Laws 1971, ch. 77, § 8; 1988, ch. 95, § 6.
Structure New Mexico Statutes
Section 7-12-1 - Cigarette Tax Act; short title.
Section 7-12-3 - Excise tax on cigarettes; reduction of rate for certain cigarettes.
Section 7-12-3.1 - Cigarette inventory tax; imposition of tax; date payment of tax due.
Section 7-12-3.2 - Cigarette inventories.
Section 7-12-4.1 - Cigarette tax; tribal sales; tax-credit stamps.
Section 7-12-5 - Affixing stamps.
Section 7-12-6 - Waiver of requirement that stamps be affixed.
Section 7-12-7 - Sale of stamps; prices.
Section 7-12-8 - Redemption of stamps.
Section 7-12-9.1 - Licensing; general licensing provisions.
Section 7-12-9.2 - Distributor's license.
Section 7-12-9.3 - Manufacturer's license.
Section 7-12-9.4 - Retail sale of cigarettes.
Section 7-12-10.1 - Retention of invoices and records; inspection by department.
Section 7-12-11 - Export sellers; physical segregation of cigarettes to be exported.
Section 7-12-12 - Shipment of unstamped cigarettes in New Mexico.
Section 7-12-13.1 - Civil penalties.
Section 7-12-13.2 - Criminal offenses; criminal penalties; seizure and destruction of evidence.
Section 7-12-15 - County and municipality recreational fund; distribution.
Section 7-12-16 - County and municipal cigarette tax fund; distribution.
Section 7-12-17 - Reporting requirements; penalty.
Section 7-12-19 - Intergovernmental agreements; no waiver of sovereign immunity.