Section 7-19D-7 - Collection by department; transfer of proceeds; deductions.

7-19D-7. Collection by department; transfer of proceeds; deductions.

A.     The department shall collect each tax imposed pursuant to the provisions of the Municipal Local Option Gross Receipts Taxes Act [7-19D-1 NMSA 1978] in the same manner and at the same time it collects the state gross receipts tax.   

B.     Except as provided in Subsection C of this section, the department shall withhold an administrative fee pursuant to Section 1 [7-1-6.41 NMSA 1978] of this 1997 act. The department shall transfer to each municipality for which it is collecting a tax pursuant to the provisions of the Municipal Local Option Gross Receipts Taxes Act the amount of each tax collected for that municipality, less the administrative fee withheld and less any disbursements for tax credits, refunds and the payment of interest applicable to the tax. The transfer to the municipality shall be made within the month following the month in which the tax is collected.   

C.     With respect to the municipal gross receipts tax imposed by a municipality pursuant to Section 7-19D-9 NMSA 1978, the department shall withhold the administrative fee pursuant to Section 1 [7-1-6.41 NMSA 1978] of this 1997 act only on that portion of the municipal gross receipts tax arising from a municipal gross receipts tax rate in excess of one-half of one percent.