Village of Bosque Farms, NM
Valencia County
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Table of Contents
Table of Contents
[HISTORY: Adopted by the Mayor and Council of the Village of Bosque Farms 8-15-2019 by Ord. No. 2019-01.[1] Amendments noted where applicable.]
[1]
Editor's Note: This ordinance also superseded former Section 5-6, Municipal Gross Receipts Tax, adopted 6-19-2008 by Ord. No. 2008-12, as amended.
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 0.3625% of the gross receipts reported or required to be reported by the person pursuant to the New Mexico Gross Receipts and Compensating Tax Act[1] as it now exists or as it may be amended. The tax imposed under this Section 5-6 is pursuant to the Municipal Local Option Gross Receipts Taxes Act[2] as it now exists or as it may be amended and shall be known as the "unrestricted municipal gross receipts tax."
[1]
Editor's Note: See NMSA 1978, § 7-9-1 et seq.
[2]
Editor's Note: See NMSA 1978, § 7-19D-1 et seq.
This Section 5-6 hereby adopts by reference all definitions, exemptions and deductions contained in the Gross Receipts and Compensating Tax Act 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 1978 § 7-1-6.4; or
C. 
Direct broadcast satellite services.
Revenue from the municipal gross receipts tax will be used for the unrestricted purpose listed: General Fund.
The effective date of the municipal gross receipts tax shall be January 1, 2020.