No tax authorized by the provisions of the Municipal Local Option Gross Receipts and Compensating Taxes Act shall be imposed on the gross receipts arising from a business located outside the boundaries of a municipality on land owned by that municipality for which a state gross receipts tax distribution is made pursuant to Section 7-1-6.4 NMSA 1978.
§ 7-19D-5 NMSA 1978
Specific exemptions
Known as the Municipal Local Option Gross Receipts and Compensating Taxes Act
The act spans §§ 7–7 (20 sections).
1978 Comp., § 7-19D-5, enacted by Laws 1993, ch. 346, § 5; 1994, ch. 101, § 3; 2019, ch. 270, § 48; 2025, ch. 130, § 107.
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.