Exempted from the compensating tax is the use of boats on which the tax imposed by Section 66-12-6.1 NMSA 1978 has been paid.
§ 7-9-23.1 NMSA 1978
Exemption; compensating tax; boats
Known as the Gross Receipts and Compensating Tax Act
The act spans §§ 7-9-1 to 7-9-99 (192 sections).
1978 Comp., § 7-9-23.1, enacted by Laws 1987, ch. 247, § 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.