Section 76-12-20 - Taxation. - New Mexico Statutes

76-12-20. Taxation.

It is the duty of every association organized under the Cooperative Marketing Association Act and foreign associations admitted to do business in this state under that act to procure annually from the state corporation commission [public regulation commission] a license authorizing the transaction of business in the state. Each domestic or foreign corporation shall pay annually a license fee of twenty-five dollars ($25.00) to the state corporation commission [public regulation commission] before receiving such license.