[Adopted 12-3-2013 by Ord. No. 13-06]
There is imposed on any person engaging in business in the County
for the privilege of engaging in business in this County 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 as it now exists or as it may be amended. The
tax imposed under this article is pursuant to the County Local Option
Gross Receipts Taxes Act as it now exists or as it may be amended
and shall be known as the "County hold harmless gross receipts tax."
This article 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 County hold harmless gross receipts tax shall be imposed
on the gross receipts arising from:
Revenue from the County hold harmless gross receipts tax will
be used for the purpose of general operations of the County, including
bond debt service.
The effective date of the County hold harmless gross receipts
tax shall be either January l or July 1, whichever date occurs first
after the expiration of three months from the date this article is
adopted.