There is imposed on any person engaging in business in this municipality, for the privilege of engaging in business in this municipality, an excise tax equal to .0625% of the gross receipts reported or required to be reported by the person pursuant to the New Mexico Gross Receipts and Compensating Tax Act, Chapter 7, Article 9 NMSA 1978, as it now exists or as amended. The tax imposed under this section is pursuant to the Municipal Infrastructure Gross Receipts Tax Act, Chapter 7, Article 9 NMSA 1978, as it now exists or as amended, and shall be known as the "municipal infrastructure gross receipts tax."
('74 Code, § 4-13-1) (Ord. 14-1992)