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Section 7-15A-7 - Tax rate for buses.

NM Stat § 7-15A-7 (2019) (N/A)
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For all buses, the weight distance tax shall be computed in accordance with the following schedule:

Declared Gross Weight

Tax Rate

(Gross Vehicle Weight)

(Mills per Mile)

26,001 to 28,000

11.01

28,001 to 30,000

11.88

30,001 to 32,000

12.77

32,001 to 34,000

13.64

34,001 to 36,000

14.52

36,001 to 38,000

15.39

38,001 to 40,000

16.73

40,001 to 42,000

18.05

42,001 to 44,000

19.36

44,001 to 46,000

20.69

46,001 to 48,000

22.01

48,001 to 50,000

23.33

50,001 to 52,000

24.65

52,001 to 54,000

25.96

54,001 and over

27.29.

History: 1978 Comp., § 7-15A-7, enacted by Laws 1988, ch. 73, § 34; 2003 (1st S.S.), ch. 3, § 5; 2004, ch. 59, § 2.

The 2004 amendments, effective July 1, 2004, amended Subsection A to change the gross vehicle weight of "26,000" to "26,001".

The 2003 (1st S.S.) amendment, effective July 1, 2004, increased each of the tax rates by approximately 38%.

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Section 7-15A-6 - Tax rate for motor vehicles other than buses; reduction of rate for one-way hauls.
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Section 7-15A-8 - Mileage and weights to be used for computing tax.