New Mexico § 62-15-28 - Taxation
Full text of New Mexico New Mexico Statutes Annotated § 62-15-28 — Taxation, with citation guidance and answers to common questions.
§ 62-15-28. Taxation
Cooperative and foreign corporations transacting business in this state pursuant to
the provisions of the Rural Electric Cooperative Act shall pay annually, on or before
July 1, to the state corporation commission [public regulation commission] a tax of
ten dollars ($10.00) for each one hundred persons or fraction thereof to whom electricity
is supplied within this state, which tax shall be in lieu of all other taxes except
those provided in the Gross Receipts and Compensating Tax Act; provided, however,
that in the event a contract has been entered into by a rural electric cooperative
and a power consumer prior to February 1, 1961 and such contract does not contain
an escalator clause providing for an increase for added tax liability on the cooperative,
then the sale to such power consumer shall be exempt until the expiration, extension
or renewal of the contract.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 62-15-28
What does New Mexico Statutes Annotated § 62-15-28 cover?
Section 62-15-28 ("Taxation") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 62-15-28?
A common citation format is "New Mexico Statutes Annotated § 62-15-28" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 62-15-28 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.