To correctly complete Form RPD-41315, Cigarette Distributor’s Monthly Inventory Report, do not report negative amounts either on the form or on its schedules. A common reason for reporting negative numbers is entering incorrectly the number of cigarette packs...
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How do I change my registration information?
To change registration information for: Cigarette Tax Gaming Tax Liquor Excise Tax Local Liquor Excise Tax Telecommunications Relay Service Surcharge Water Conservation Fee Use Form ACD-31015 Business Tax Registration to make changes and submit to the following...
Can I create an electronic substitute form or worksheet on my computer and submit it to the Department instead of obtaining the Department’s form?
Persons who want to reproduce, develop, distribute or use New Mexico tax forms must receive approval to generate any substitute New Mexico state tax form. A substitute form must meet the requirements of the New Mexico Taxation and Revenue Department (TRD). The...
I am a software developer. I want my software product to reproduce a Taxation and Revenue Department form for filing. How do I begin?
If you want to reproduce, develop, distribute and or use New Mexico tax forms, you must first receive approval to generate any substitute New Mexico state tax form. A substitute form must meet the requirements of the New Mexico Taxation and Revenue Department (TRD)....
Are there any tax credits related to this tax program?
A taxpayer may qualify for a credit against current coal severance taxes if the coal is severed from Indian tribal land or if a tax is imposed on the privilege of severing coal from Indian tribal land. This credit is called the Intergovernmental Coal Severance Tax...
What is the purpose of the severance tax?
For the privilege of severing natural resources in New Mexico, the severer is subject to an excise tax on the taxable value of the quantity of natural resources severed and saved by or for him as determined under, and at the rates provided by the Severance Tax...
In general, on what natural resources is the severance tax imposed?
Timber and any timber product, and any metalliferous or non-metalliferous mineral product, combination or compound severed in New Mexico except for oil, natural gas, liquid hydrocarbons or carbon dioxide, are subject to the severance tax.
If I file for the severance tax, do I have to file for the resource excise tax?
If you file for the severance tax, you must file for the resource excise tax.
What is the definition of “severing”?
“Severing” means: mining, quarrying, extracting, felling or producing any natural resource in New Mexico for sale, profit or commercial use.
What are the severance tax rates?
Severance tax rates are: Potash is 2 1/2% of taxable value Copper is 1/2% of taxable value Timber is 1/8% of taxable value Pumice, gypsum, sand, gravel, clay, fluorspar and other nonmetallic minerals are 1/8% of taxable value Lead, zinc, thorium, molybdenum,...