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 (NMSA § 7-9-1 et seq.) as it now exists or as it may be amended. The tax imposed under this article is enacted pursuant to the Municipal Local Option Gross Receipts Taxes Act (NMSA § 7-19D-1 et seq.) as it now exists or as it may be amended and shall be known as the "municipal gross receipts tax."
[HISTORY: Adopted by the Town Council of the Town of Tatum as indicated in article histories. Amendments noted where applicable.]
[Adopted 6-12-2000]
This article hereby adopts by reference all definitions, exemptions and deductions contained in the Gross Receipts and Compensating Tax Act (NMSA § 7-9-1 et seq.) as it now exists or as it may be amended.
No municipal gross receipts tax shall be imposed on the gross receipts arising from:
A.
Transporting persons or property for hire by railroad, motor vehicle, air transportation or any other means from one point within the municipality to another point outside the municipality;
B.
A business located outside the boundaries of a municipality on land owned by that municipality for which a state gross receipts tax distribution is made pursuant to Subsection C of NMSA § 7-1-6.4; or
C.
Direct broadcast satellite services.
Revenue from the municipal gross receipts tax will be used for the continuation of services supplied by the operation of the Town of Tatum general fund.
The effective date of the municipal gross receipts tax shall be January 1, 2001, unless an election is held pursuant to NMSA § 7-19D-9(D) on the question of approving the article, in which case the effective date shall be either July 1 or January 1, whichever date occurs first after the expiration of three months from the date when the results of the election are certified to be in favor of the article's adoption and the adopted article is delivered or mailed to the Taxation and Revenue Department.