The state imposes a governmental gross receipts tax of 5.00% on the receipts of New Mexico state and local governments. The exceptions are the gross receipts of public school districts and entities licensed by the Department of Health that are principally engaged in...
Gross receipts are the total amount of money or value of other consideration received from: Selling property in New Mexico; Leasing or licensing property employed in New Mexico; Granting a right to use a franchise employed in New Mexico; Performing services in New...
The Interstate Telecommunications Gross Receipts Tax (ITGRT) applies to interstate telecommunications gross receipts of any person engaging in interstate telecommunications business in New Mexico (Section 7-9C-3 NMSA 1978). Interstate telecommunications gross receipts...
The leased vehicle gross receipts tax applies to persons engaging in business who have receipts from the short-term leasing of vehicles (Section 7-14A-3 NMSA 1978): The lease is for a term of six months or less; The vehicle is part of a fleet of five or more leased...
New Mexico imposes a leased vehicle surcharge on the lease of a vehicle to another person by a person engaging in business in New Mexico when the lease is subject to the leased vehicle gross receipts tax (Section 7-14A-3.1 NMSA 1978). The surcharge is $2.00 for each...
New Mexico imposes a liquor excise tax on wholesalers who sell alcoholic beverages. The rate of tax varies according to the type and amount of alcoholic beverage sold as detailed below: spirituous liquors – $1.60 per liter spirituous liquors produced by a craft...
The local liquor excise tax is imposed on retailers who sell alcoholic beverages or possess them for sale in a New Mexico county or municipality that elects to impose the tax. Currently, McKinley County is the only county in New Mexico that has elected to impose the...
Motor Vehicle Excise Tax (MVET) The Motor Vehicle Excise Tax applies to the sale of every motor vehicle that must be registered in the State of New Mexico. We presume that every time a vehicle is titled, a sale has occurred and the motor vehicle excise tax is due. The...
If a municipal event center is located within a specific municipality, the municipality may establish an event center surcharge by ordinance. The surcharge should not be less than five percent of each vendor contract entered into by that municipality. If the...
The natural gas processors tax is levied on processors for the privilege of operating a natural gas processing plant in New Mexico. It is measured at the plant’s inlet by the heating content of natural gas in million British thermal units (mmbtu). Deductions are...