Exemption; vehicles titled before July 1, 1991.

  1. Law
  2. New Mexico Statutes
  3. Taxation
  4. Leased Vehicle Gross Receipts Tax
  5. Exemption; vehicles titled before July 1, 1991.

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The receipts from the leasing by the owner of vehicles that were acquired by the owner prior to July 1, 1991 and with respect to which the excise tax pursuant to Section 7-14-3 NMSA 1978 was paid and a certificate of title issued prior to July 1, 1991 are exempt from the tax imposed by Section 7 [7-14A-3 NMSA 1978] of this act.

History: Laws 1991, ch. 197, § 13.

ANNOTATIONS

Effective dates. — Laws 1991, ch. 197, § 16 made Laws 1991, ch. 197, § 13 effective July 1, 1991.


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