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§ 7-16A-5 NMSA 1978

Special fuel inventories

Known as the Special Fuels Supplier Tax Act

The act spans §§ 7–7 (31 sections).

Laws 1992, ch. 51, § 5; 2005, ch. 109, § 9.

A. On the day prior to the day in which the special fuel excise tax rate is increased or decreased, each supplier, dealer and bulk storage user shall take inventory of the gallons of special fuel on hand.

B. Suppliers and bulk storage users shall report total gallons of special fuel in inventory on the day prior to the day in which an increase in the special fuel excise tax rate is effective and pay any special fuel inventory tax due.

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.