Section 7-12A-3 - Imposition and rate of tax; denomination as "tobacco products tax"; date payment of tax due. - New Mexico Statutes

7-12A-3. Imposition and rate of tax; denomination as "tobacco products tax"; date payment of tax due.

A.     For the manufacture or acquisition of tobacco products in New Mexico to be distributed in the ordinary course of business and for the consumption of tobacco products in New Mexico, there is imposed an excise tax at the rate of twenty-five percent of the product value of the tobacco products.

B.     The tax imposed by Subsection A of this section may be referred to as the "tobacco products tax". 

C.     The tobacco products tax shall be paid by the first purchaser on or before the twenty-fifth day of the month following the month in which the taxable event occurs.