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 1/8 of 1% (0.125%) 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:
A. Transporting persons or property for hire by railroad, motor vehicle,
air transportation or any other means from one point within the County
to another point outside the County;
B. Direct broadcast satellite services.
Revenue from the County hold harmless gross receipts tax will
be used for the sole purpose of building a detention center expansion
and a courthouse project and bond payment.
The effective date of the County hold harmless gross receipts
tax shall be either January 1 or July 1, whichever date occurs first
after the expiration of three months from the date this article is
adopted.
This article will be repealed as soon as the bond is paid in full. If it is determined that the projects described in §
205-51 of the article are not affordable or doable, this 1/8 gross receipts tax is repealed.