New Mexico Administrative Code
Title 3 - TAXATION
Chapter 11 - MOTOR VEHICLE TAXES AND FEES
Part 4 - SALE OR TRANSFER OF VEHICLES
Section 3.11.4.7 - DEFINITIONS
Current through Register Vol. 35, No. 18, September 24, 2024
A. "Member of a NATO force" means the military and civilian personnel of the NATO force and their dependents.
B. "NATO force" means any NATO signatory's military unit or force or civilian component thereof present in New Mexico in accordance with the north Atlantic treaty.
C. "NATO signatory" means a nation, other than the United States of America, that is a contracting party to the north Atlantic treaty.
D. "Price paid" is the dollar amount to which the motor vehicle excise tax is applied and (except as provided in Section 7-14-4 NMSA 1978 if the price paid does not represent the value of the vehicle) is the total net purchase price paid by the buyer for the vehicle itself, including any deposit or down payment, at the time of sale. "Price paid" includes any charges to the buyer for accessories, transportation, delivery and dealer preparation. "Price paid" is reduced by the value of any vehicle trade-in and by any discounts or rebates that are applied to the buyer's balance due at time of sale. "Price paid" is also reduced by the value of any manufacturer's or other rebate that is contractually guaranteed to the buyer at time of sale, even though the rebate is received by the buyer at a later date.
