7-12-9.2. Distributor's license.
135 words·~1 min read·
/nm/chapter-7-taxation/article-12-cigarette-tax/7-12-9-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. A person shall not distribute stamped packages of cigarettes for resale or sell stamped packages of cigarettes at wholesale without first obtaining a distributor's license from the department.
B. A person licensed to distribute cigarettes is authorized to:
(1)receive unstamped packages of cigarettes from a manufacturer or a distributor;
(2)purchase tax stamps and receive tax-exempt stamps and tax-credit stamps from the department;
(3)affix tax stamps, tax-credit stamps or tax-exempt stamps to unstamped packages of cigarettes;
(4)sell stamped packages of cigarettes to a retailer for resale or to a distributor; and
(5)sell unstamped packages of cigarettes to a person licensed to distribute cigarettes outside of New Mexico or to a distributor.
History: Laws 2006, ch. 91, § 8; 2009, ch. 197, § 15; 2010 (2nd S.S.), ch. 5, § 10.