(A) Imposition of tax. 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 0.25% of the gross receipts reported or required to be reported by the person pursuant to the New Mexico Gross Receipts and Compensating Tax Act being NMSA §§ 7-9-1 et seq., as it now exists or as amended. The tax imposed under this section is pursuant to the Municipal Gross Receipts Tax Act as it now exists or as amended and shall be known as the “municipal gross receipts tax”.
(B) General provisions. This section hereby adopts by reference all definitions, exemptions and deductions contained in the Gross Receipts and Compensating Tax Act as it now exists or as amended.
(C) Specific exemptions. No special municipal gross receipts tax shall be imposed on the gross receipts arising from:
(1) Transporting persons or property for hire by railroad, motor vehicle, air transportation or any other means from 1 point within the municipality to another point outside the municipality;
(2) A business located outside the boundaries of a municipality on land owned by that municipality for which a gross receipts tax distribution is made pursuant to subsection (C) of NMSA § 7-1-6.4; or
(3) Direct broadcast satellite services.
(D) Effective date. The effective date of this section is July 1, 2019.
(Ord. 527, passed 7-3-1981; Am. Ord. 550, passed 7-24-1984; Am. Ord. 707, passed 1-9-2019)