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.
§ 7-14A-4 NMSA 1978
Presumption of taxability
Known as the Leased Vehicle Gross Receipts Tax Act
The act spans §§ 7–7 (12 sections).
Laws 1991, ch. 197, § 8; 1993, ch. 359, § 2.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.