[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Editor's Note: This ordinance also superseded former Section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."
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.
