CITY of ALBUQUERQUE
TWENTY FOURTH COUNCIL
COUNCIL BILL NO. O-20-14 ENACTMENT NO. _____________________
SPONSORED BY: Isaac Benton, by request
ORDINANCE
title
Imposing An Excise Tax Equal To One-Fourth Of One Percent Of Gross Receipts That Was Passed By The Voters; Dedicating Revenues Received From The Tax For Transportation Infrastructure Improvements (Benton, by request)
body
IMPOSING AN EXCISE TAX EQUAL TO ONE-FOURTH OF ONE PERCENT OF
GROSS RECEIPTS THAT WAS PASSED BY THE VOTERS; DEDICATING REVENUES RECEIVED FROM THE TAX FOR TRANSPORTATION INFRASTRUCTURE IMPROVEMENTS.
BE IT ORDAINED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF
ALBUQUERQUE:
Section 1. NAME. The municipal gross receipts tax imposed by this ordinance shall be popularly known as the "Transportation Infrastructure Tax."
Section 2. IMPOSITION OF TAX. 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 one-fourth of one percent of the gross receipts reported or required to be reported by such person pursuant to the New Mexico Gross Receipts and Compensating Tax Act, Chapter 7, Article 9, NMSA 1978, as it now exists or as it may be amended. The tax imposed by this ordinance is pursuant to the Municipal Local Option Gross Receipts Tax Act, Section 7-19D-9 NMSA 1978, as it now exists or as it may be amended, and shall be known as the "municipal gross receipts tax."
Section 3. GENERAL PROVISIONS. This ordinance 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.
Section 4. SPECIFIC EXEMPTIONS. The municipal gross receipts tax shall not 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 municip...
Click here for full text