Sections 43 through 47 [7-42-1 to 7-42-5 NMSA 1978] of this act may be cited as the “Cannabis Tax Act”. History: Laws 2021 (1st S.S.), ch. 4, § 43. ANNOTATIONS Effective dates. — Laws 2021 (1st S.S.), ch. 4 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective […]
As used in the Cannabis Tax Act: A. “cannabis”: (1) means all parts of the plant genus Cannabis containing a delta-9-tetrahydrocannabinol concentration of more than three-tenths percent on a dry weight basis, whether growing or not; the seeds of the plant; the resin extracted from any part of the plant; and every compound, manufacture, salt, […]
A. An excise tax is imposed on a cannabis retailer that sells cannabis products in this state. The tax imposed by this section may be referred to as the “cannabis excise tax”. B. The rate of the cannabis excise tax shall be at the following rates and shall be applied to the price paid for […]
The cannabis excise tax is to be paid on or before the twenty-fifth day of the month following the month in which the taxable sale occurs. History: Laws 2021 (1st S.S.), ch. 4, § 46. ANNOTATIONS Effective dates. — Laws 2021 (1st S.S.), ch. 4 contained no effective date provision, but, pursuant to N.M. Const., […]
The department shall administer and enforce the collection of the cannabis excise tax pursuant to the Tax Administration Act [Chapter 7, Article 1 NMSA 1978] . History: Laws 2021 (1st S.S.), ch. 4, § 47. ANNOTATIONS Effective dates. — Laws 2021 (1st S.S.), ch. 4 contained no effective date provision, but, pursuant to N.M. Const., […]
