A. If a vehicle has been acquired through an out-of-state transaction upon which a gross receipts, sales, compensating or similar tax was levied by another state or political subdivision thereof, the amount of the tax paid may be credited against the tax due this state on the same vehicle. B. If a vehicle has been acquired through a transaction on reservation or trust land within an Indian nation, tribe or pueblo, located wholly or partly in New Mexico, upon which a gross receipts, sales, compensating or similar tax was levied by the Indian nation, tribe or pueblo, the amount of the tax paid may be credited against the tax due this state on the same vehicle. History: 1978 Comp., § 7-14-7, enacted by Laws 1988, ch. 73, § 17; 2022, ch. 48, § 1. The 2022 amendment, effective July 1, 2022, provided a credit against the motor vehicle excise tax for a similar tax paid to an Indian nation, tribe or pueblo; and added Subsection B.
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