{"data":{"id":"us-nm/7-11-3","jurisdiction":"us-nm","citation":"7-11-3","heading":"Imposition of tax; tax rate; tax in lieu of property taxes.","body":"A. There is imposed on the gross earnings of each organization for the 1996 and subsequent calendar years a tax of one and one-half percent.\nB. The tax imposed in Subsection A of this section is in lieu of all property taxes on railway cars owned by an organization.","path":["Chapter 7 - Taxation","ARTICLE 11 Railroad Car Company Tax"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18507/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"7a1fe0ee63dbd5cd625106ba2057ce2a82574acaf97981bfbec0f085e8ba2acc","source_id":"us-nm","stale":false,"prev":"us-nm/7-11-2","next":"us-nm/7-11-4"},"notice":"GroundRules: Original legal text. Not legal advice."}