For the purpose of this subchapter, the following definitions shall apply unless the context indicates or requires a different meaning.
BUREAU. The Revenue Division of the Taxation and Revenue Department, the Director of that division or any employee of the division exercising authority lawfully delegated to him or her by the director.
BUYING or SELLING. Any transfer of property for consideration or any performance of service for consideration.
CONSTRUCTION.
(1) Building, altering, repairing or demolishing in the ordinary course of business any:
(a) Road, highway, bridge, parking area or related project;
(b) Building, stadium or other structure;
(c) Airport, subway or similar facility;
(d) Park, trail, athletic field, golf course or similar facility;
(e) Dam, reservoir, canal, ditch or similar facility;
(f) Sewerage or water treatment facility, power generating plant, pump station, natural gas compressing station or similar facility;
(g) Sewerage, water, gas or other pipeline;
(h) Transmission line;
(I) Radio or other tower;
(j) Water, oil or other storage tank;
(k) Shaft, tunnel or other mining appurtenance; or
(l) Similar work.
(2) CONSTRUCTION also means:
(a) Leveling or clearing land;
(b) Excavating earth;
(c) Drilling wells of any type, including seismograph shot holes or core drilling; or
(d) Similar work.
ENGAGING IN BUSINESS. Carrying on, or causing to be carried on, any activity with the purpose of direct or indirect benefit.
FINANCIAL CORPORATION. Any savings and loan association, or any incorporated savings and loan company, trust company, mortgage banking company, consumer finance company or other financial corporation.
GROSS RECEIPTS.
(1) The total amount of money or the value of other consideration, received from selling property, from leasing property or from performing services, and includes any receipts from sales of tangible personal property handled on consignment, but excludes cash discounts allowed and taken, New Mexico gross receipts tax payable on transactions for the reporting period and taxes imposed pursuant to the provisions of the Municipal Gross Receipts Tax Act which are payable on transactions for the reporting period and any type of time-price differential.
(2) In an exchange in which the money or other consideration received does not represent the value of the property or service exchanged, GROSS RECEIPTS means the reasonable value of the property or service exchanged.
(3) When the sale of property or service is made under any type of charge, conditional or time sales contract or the leasing of property is made under a leasing contract, the seller or lessor may elect to treat all receipts, excluding any type of time-price differential, under the contracts as gross receipts and when the payments are actually received. If the seller or lessor transfers his or her interest in any contract to a third person, he or she shall pay the gross receipts tax upon the full sale or leasing contract amount, excluding any type of time-price differential.
(4) GROSS RECEIPTS, for the purposes of the business of buying, selling or promoting the purchase, sale or leasing, as factor, agent or broker, on a commission or fee basis of any property, service, stock, bond or security, includes only the total commissions or fees derived from the business.
(5) GROSS RECEIPTS also includes amounts paid by members of any cooperative association or similar organization for sales or leases of personal property or performance of services by the organization.
LEASING. Any arrangement whereby, for a consideration, property is employed for or by any person other than the owner of the property.
MANUFACTURING. Combining or processing components or materials to increase their value for sale in the ordinary course of business but does not include construction.
MUNICIPAL GROSS RECEIPTS TAX. The municipal gross receipts tax imposed by the Town of Clayton Municipal Gross Receipts Tax Ordinance.
MUNICIPALITY. The Town of Clayton.
PERSON.
(1) Any individual, estate, trust, receiver, cooperative association, club, corporation, company, firm, partnership, joint venture, syndicate or other entity, including any gas, water or electric utility owned or operated by a county, municipality or other political subdivision of the state; or
(2) The United States or any agency or instrumentality thereof, the State of New Mexico or any political subdivision thereof.
PROPERTY. Real property, tangible personal property franchises, patents, trademarks and copyrights. Tangible personal property includes electricity.
SERVICE.
(1) All activities engaged in for other persons for a consideration, which activities involve predominantly the performance of a service as distinguished from selling property. In determining what is a SERVICE, the intended use, principal objective or ultimate objective of the contracting parties shall not be controlling.
(2) SERVICE includes construction activities and all tangible personal property that will become an ingredient or component part of a construction project; however, sales of tangible personal property that will become an ingredient or component part of a construction project to persons engaged in the construction business are sales of tangible personal property.
USE or USING. Use, consumption or storage other than storage for subsequent sale in the ordinary course of business or for use solely outside this state.
(Ord. 499, passed 5-3-1976; Am. Ord. 502, passed 8-9-1976; Am. Ord. 512, passed 8-28-1978)