Statutes > New Mexico Statutes > Chapter 73 - Special Districts. > Article 12 - Electrical Irrigation Districts, 73-12-1 through 73-12-57. > Section 73-12-48 - District shall pay tax on gross revenue derived from sales of surplus power.

Section 73-12-48 - District shall pay tax on gross revenue derived from sales of surplus power.

73-12-48. District shall pay tax on gross revenue derived from sales of surplus power.

Any district organized under the provisions of this act [73-12-1 to 73-12-57 NMSA 1978] shall be taxed in the sum of four percent (4%) of the gross revenue derived from the sale of surplus power, which amount shall be paid into the county treasury of the county in which such district is organized to the credit of the county road fund.