reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 19 - RENEWABLE ENERGY PRODUCTION TAX CREDIT › Section 3.13.19.11 - CONFIDENTIALITY REQUESTS, WAIVERS, REVIEWS AND APPEALS

Current through Register Vol. 35, No. 13, July 16, 2024
A. An applicant may request in writing that
				the department hold materials submitted as part of the application package and
				certification process confidential pursuant to NMSA 1978, Section
				71-2-8.
				The applicant shall address the request to the director.
B. An applicant may request in writing that
				the director waive any provision of the application unless NMSA 1978, Section
				7-2A-19
				requires the provision. The applicant shall address the request to the
				director, and include the facts and circumstances that support a
				waiver.
C. The applicant shall have
				the right to request in writing review of the director's decision to reject an
				application or review of the division's adjustments to the annual production
				estimate. The applicant shall address the request to the director and include
				the reasons that the director should review the decision.
D. Any person having an interest that the
				request does or may adversely affect may oppose an applicant's request to hold
				materials an applicant has submitted as part of an application package
				confidential or the director grant an applicant's request to waive a provision
				of the application. The person shall submit the opposition in writing, within
				10 days of the request, to the director and send a copy to the applicant. The
				opposition shall include the reasons that the department should not hold the
				information confidential or that the director should not grant the waiver.
(1) The director shall consider the request
				and the opposition, if any. The director may hold a hearing and appoint a
				hearing officer to conduct the hearing. The director shall send a final
				decision to the applicant and any person or entity opposing the request within
				20 days after receiving the request, the opposition, if the request if opposed,
				or the date the hearing is held.
(2) The applicant or the person or entity
				opposing the request may appeal in writing to the secretary a director's
				decision. The notice of appeal shall include the reasons that the secretary
				should overturn the director's decision.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 19 - RENEWABLE ENERGY PRODUCTION TAX CREDIT › Section 3.13.19.12 - CERTIFICATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. When a qualified
				energy generator, for which the division has approved a tax credit application
				package, produces power and it is sold to an unrelated person, then the
				applicant may request certification from the division. If the applicant is
				different from the original applicant then the new applicant shall submit a
				revised application form to the division indicating who is eligible for the tax
				credit. The qualified energy generator must demonstrate at least 10 megawatts
				generating capacity. The applicant shall submit:
(1) the name of the qualified energy
				generator;
(2) electric power
				output meter readings indicating at least 10 megawatts generating
				capacity;
(3) a copy of the bill of
				sale or equivalent documentation indicating the amount of electrical energy the
				qualified energy generator produced, precise time period of production, and the
				name and relationship, if any, of the buyer of the electricity; and
(4) a notice of allocation indicating the
				allocation of the right to claim the tax credit and evidence of each taxpayers'
				ownership interest.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 19 - RENEWABLE ENERGY PRODUCTION TAX CREDIT › Section 3.13.19.13 - CLAIMING THE TAX CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. To claim the renewable energy production
				tax credit, a taxpayer shall submit to the New Mexico taxation and revenue
				department the certificate the department issued to the applicant stating that
				the facility is an eligible qualified energy generator, a copy of the
				certificate the department issued to the taxpayer showing the taxpayer's right
				to claim all or a portion of the tax credit, documentation showing the
				taxpayer's ownership interest in the qualified energy generator, documentation
				of the amount of energy the qualified energy generator produced in the taxable
				year, and any other information the taxation and revenue department may require
				to determine the amount of the credit due to each taxpayer claiming the
				credit.
B. If the amount of tax
				credit the taxpayer claims exceeds the taxpayer's corporate income tax
				liability, the taxpayer may carry the excess forward for up to five consecutive
				taxable years.
C. Once the
				department has certified a facility as a qualified energy generator eligible
				for the tax credit taxpayers retain the original date of application for tax
				credits for that facility until either the qualified energy generator is out of
				production for more than six consecutive months in a year or until the
				qualified energy generator's 10-year eligibility has expired.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 19 - RENEWABLE ENERGY PRODUCTION TAX CREDIT › Section 3.13.19.14 - ALLOCATION OF TAX CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. A business entity may allocate a taxpayer
				all or a portion of the right to claim a tax credit without regard to
				proportional ownership if:
(1) the taxpayer
				owns an interest in a business entity that is taxed for federal income tax
				purposes as a partnership;
(2) the
				business entity (a) is the applicant; (b) owns an interest in the business
				entity, the applicant, that is also taxed for federal income tax purposes as a
				partnership; or (c) owns, through one or more intermediate business entities
				that are each taxed for federal income tax purposes as a partnership, an
				interest in a business entity, the applicant, as described in (b);
				and
(3) the taxpayer and all other
				taxpayers a business entity allocates a right to claim the renewable energy
				production tax credit pursuant to this section collectively have at least a
				five percent ownership interest in the applicant's qualified energy generator;
				collective ownership means that a business entity, which may be a partnership
				or have subsidiary business entities, owns at least a five percent interest in
				the qualified energy generator; a business entity that owns at least a five
				percent interest in the qualified energy generator may receive the right to all
				of a tax credit, but shall only allocate that right to its subsidiaries or
				partners based upon their actual ownership interest in the business entity; for
				example, the business entity owning the five percent interest is a partnership
				comprised of three business entities; one business entity owns a 40 percent
				interest in the business and the other two business entities each own a 30
				percent interest; 90 percent of the tax credit is allocated to the business
				entity that owns a five percent interest in the qualified energy generator; the
				partner owning 40 percent is entitled to 36 percent of the total tax credit and
				the other two partners are each entitled to 27 percent of the total tax
				credit.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 19 - RENEWABLE ENERGY PRODUCTION TAX CREDIT › Section 3.13.19.15 - DETERMINATION OF WHETHER A GENERATOR IS A SEPARATE FACILITY

Current through Register Vol. 35, No. 13, July 16, 2024
When determining whether a generator is a separate facility
				  or is one of several generators located in the same geographical location (e.g.
				  mesa, section of land) that comprise a single facility, the division shall
				  consider the following factors that indicate whether or not the generators are
				  operated as separate facilities. The division shall consider factors such as
				  whether the same corporate entity holds title to or leases property from a
				  county or municipality pursuant to an industrial revenue bond where the
				  generating infrastructure is located; whether the same buyer is purchasing the
				  electricity the generators produce; whether the generators have different
				  interconnection agreements or system impact study agreements; whether the
				  generators have different power purchase or project finance agreements; whether
				  the generator is connected with other generators before entering the main
				  transmission line; and any other factor the director deems relevant to the
				  determination.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 20 - LAND CONSERVATION INCENTIVES TAX CREDIT › Section 3.13.20.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
3.13.20 NMAC applies to application and certification
				  procedures for administration of the land conservation incentives tax
				  credit.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 20 - LAND CONSERVATION INCENTIVES TAX CREDIT › Section 3.13.20.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
3.13.20 NMAC is adopted pursuant to NMSA 1978, Sections
				  7-2-18.10;
				  7-2A-8.9;
				  9-1-5(E) and
				  9-11-6.2
				  and the Land Conservation Incentives Act, NMSA 1978, Sections
				  75-9-1 to
				  75-9-6.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 20 - LAND CONSERVATION INCENTIVES TAX CREDIT › Section 3.13.20.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
June 16, 2008, unless a later date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 20 - LAND CONSERVATION INCENTIVES TAX CREDIT › Section 3.13.20.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
3.13.20 NMAC's objective is to establish procedures for
				  certifying whether donations of land or interests in land to public or private
				  conservation agencies made on or after January 1, 2004, are eligible for the
				  land conservation incentives tax credit and to administer the land conservation
				  incentives tax credit.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 20 - LAND CONSERVATION INCENTIVES TAX CREDIT › Section 3.13.20.9 - ASSESSMENT APPLICATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. An applicant who plans to apply for a land conservation incentives tax credit shall apply for an assessment by the energy, minerals and natural resources department of the donation the applicant made or proposes to make for a conservation or preservation purpose of a fee interest in land or a less-than-fee interest in land. An applicant may submit the assessment application to the energy, minerals and natural resources department either prior to conveying the fee interest in land or less-than-fee interest in land or after conveying the fee interest in land or less-than-fee interest in land. The applicant does not need to submit an appraisal with the assessment application package.
B. An applicant may obtain an assessment application form from the energy, minerals and natural resources department.
C. An applicant shall submit the assessment application package, which shall include one signed, completed paper original and one electronic copy, to the energy, minerals and natural resources department. For the electronic copy the applicant shall submit a PDF of the assessment application package on a USB flash drive or by other method the energy, minerals and natural resources department approves. Any photographs submitted shall be in color.
D. The assessment application package shall consist of an assessment application form containing the applicant's name, address, telephone number, e-mail address if available and signature, with the following required attachments:
(1) a donation assessment report that includes:
(a) a detailed description of the donation or proposed donation including:
(i) whether the donation or proposed donation is a fee interest in land or a less-than-fee interest in land;
(ii) if the donation or proposed donation is a fee interest in land, to ensure the conservation or preservation purpose is protected in perpetuity, a description of who holds or will hold a conservation easement the applicant has placed or will place on the land and assurance the conservation easement will contain a provision that the conservation restrictions run with the land in perpetuity and any reserved use shall be consistent with the conservation or preservation purpose and separate donees will hold the fee interest and conservation easement;
(iii) the donation or proposed donation's conservation or preservation purpose and how the donation or proposed donation protects that purpose in perpetuity;
(iv) significant natural or cultural resources present on the property; and
(v) a description of any water rights associated with the property and whether the conservation easement or deed requires or will require any water rights associated with the property to remain with the property;
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 20 - LAND CONSERVATION INCENTIVES TAX CREDIT › Section 3.13.20.11 - CERTIFICATION OF ELIGIBILITY APPLICATION REVIEW PROCESS AND CERTIFICATION OF ELIGIBLE DONATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. Authority to review. The secretary reviews certification of eligibility applications.
B. Appraisal review. Upon receiving the certification of eligibility application, the secretary requests that the taxation and revenue department review the appraisal and forwards the appraisal to the appraisal bureau for review. The appraisal bureau shall review the appraisal and advise the secretary whether the appraisal meets the requirements of 3.13.20 NMAC including whether the appraisal complies with the uniform standards of professional appraisal practice and whether the appraiser used proper methodology and reached a reasonable conclusion concerning value.
(1) If the appraisal bureau determines that the appraisal meets the requirements of 3.13.20 NMAC including whether the appraisal complies with the uniform standards of professional appraisal practice and the appraiser used proper methodology and reached a reasonable conclusion concerning value the appraisal bureau shall issue a final review of the appraisal to the energy, minerals and natural resources department.
(2) If the appraisal bureau determines the appraisal does not meet the requirements of 3.13.20 NMAC, the uniform standards of professional appraisal practice or the appraiser did not use proper methodology or reach a reasonable conclusion concerning value the appraisal bureau shall send a preliminary review of the appraisal to the energy, minerals and natural resources department identifying the reasons for the appraisal bureau's determination.
(3) The appraisal bureau's review does not preclude further audit by the taxation and revenue department or the United States internal revenue service.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 20 - LAND CONSERVATION INCENTIVES TAX CREDIT › Section 3.13.20.13 - FACTORS IN DETERMINING SUITABILITY FOR CERTIFICATION OF ELIGIBILITY

Current through Register Vol. 35, No. 13, July 16, 2024
A. The donation shall meet the following three criteria for the secretary to consider the donation for certification eligibility:
(1) the land or interest in land fits one or more of the descriptions of purposes in Subsection D of 3.13.20.7 NMAC;
(2) the recipient is a public or private conservation agency with the ability and commitment to monitor and ensure the grantor's compliance with the conservation easement or provide stewardship of the fee land, as applicable; and
(3) the donation provides for the protection in perpetuity of the conservation or preservation purposes for which the applicant donated the land or interest in land through a conservation easement.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 20 - LAND CONSERVATION INCENTIVES TAX CREDIT › Section 3.13.20.14 - FILING REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. After obtaining a certificate of eligibility from the energy, minerals and natural resources department, the applicant shall apply for the land conservation incentives tax credit with the taxation and revenue department on a form the taxation and revenue department develops. The applicant shall attach the certificate of eligibility received from the secretary.
B. If the applicant complies with all the requirements in Section  7-2-18.10 or Section  7-2A-8.9 NMSA 1978 and has received the certificate of eligibility from the secretary, the taxation and revenue department shall issue a document granting the land conservation incentives tax credit, which is numbered for identification and includes its date of issuance and the amount of the land conservation incentives tax credit allowed.
C. A tax filer shall use a claim form the taxation and revenue department develops to apply the land conservation incentives tax credit to the tax filer's income taxes. A tax filer shall submit the claim form with the tax filer's income tax return.
D. A tax filer who has both a carryover credit and a new credit derived from a qualified donation in the taxable year for which the tax filer is filing the return shall first apply the amount of carryover credit against the income tax liability. A tax filer may apply one or more tax credits against the liability in a given year; provided however, the tax credits applied shall not exceed the liability for that year. If the amount of liability exceeds the carryover credit, then the tax filer may apply the current year credit against the liability.
E. If an applicant claims a charitable deduction on the applicant's federal income tax for a contribution for which the applicant also claims a tax credit pursuant to the Land Conservation Incentives Act, the applicant's itemized deduction for New Mexico income tax shall be reduced by the deduction amount for the contribution to determine the applicant's New Mexico taxable income.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 20 - LAND CONSERVATION INCENTIVES TAX CREDIT › Section 3.13.20.15 - TRANSFER OF THE LAND CONSERVATION INCENTIVES TAX CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. An applicant may sell, exchange or otherwise transfer an approved land conservation incentives tax credit, represented by the document the taxation and revenue department issues, for a conveyance made on or after January 1, 2008. A land conservation incentives tax credit or increment of a land conservation incentives tax credit may only be transferred once. An applicant may transfer the applicant's land conservation incentives tax credit to any tax filer.
B. A tax filer to whom an applicant has transferred a land conservation incentives tax credit may use the land conservation incentives tax credit in the year the transfer occurred and carry forward unused amounts to succeeding taxable years, but may not use the land conservation incentives tax credit for more than 20 years after the taxation and revenue department originally issued the land conservation incentives tax credit. To use the land conservation incentives tax credit for that taxable year, the transfer of the land conservation incentives tax credit must occur on or before December 31 of that taxable year, if the individual or entity who will use the land conservation incentives tax credit has a taxable year of January 1 to December 31, or on or before the end of the taxable year if the individual or entity has a taxable year that is not January 1 to December 31.
C. An applicant may only transfer a land conservation incentives tax credit in increments of $10,000 or more.
D. An applicant shall use a qualified intermediary to transfer a land conservation incentives tax credit. The qualified intermediary shall notify the taxation and revenue department of the transfer and the date of the transfer on a taxation and revenue department-developed form within 10 days following the transfer. The qualified intermediary shall keep an account of the land conservation incentives tax credit transferred.
E. A qualified intermediary may issue sub-numbers registered with and obtained from the taxation and revenue department.
F. If an individual who owns an interest in the donated property dies prior to selling, exchanging or otherwise transferring the land conservation incentives tax credit, the donor's estate may sell, exchange or otherwise transfer the land conservation incentives tax credit.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 20 - LAND CONSERVATION INCENTIVES TAX CREDIT › Section 3.13.20.16 - TRANSITION PROVISIONS

Current through Register Vol. 35, No. 13, July 16, 2024
3.13.20 NMAC, effective on June 16, 2008, shall apply to
				  those applications for a land conservation incentives tax credit, an applicant
				  submits on or after June 16, 2008 even if the applicant conveyed the donation
				  prior to that date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 21 - BIODIESEL BLENDING FACILITY TAX CREDIT › Section 3.13.21.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
3.13.21 NMAC applies to the application and certification
				  procedures for administration of the biodiesel blending facility tax credit for
				  rack operations.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 21 - BIODIESEL BLENDING FACILITY TAX CREDIT › Section 3.13.21.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
3.13.21 NMAC is established under the authority of NMSA 1978,
				  Section
				  7-9-79.2
				  and NMSA 1978, Section
				  9-1-5.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 21 - BIODIESEL BLENDING FACILITY TAX CREDIT › Section 3.13.21.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 31, 2007, unless a later date is cited at the end of
				  a section.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 21 - BIODIESEL BLENDING FACILITY TAX CREDIT › Section 3.13.21.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
3.13.21 NMAC's objective is to establish procedures for
				  administering the program to issue a certificate of eligibility for the
				  biodiesel blending facility tax credit for rack operators.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 21 - BIODIESEL BLENDING FACILITY TAX CREDIT › Section 3.13.21.8 - GENERAL PROVISIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Only a taxpayer who on or after July 1, 2007 installs biodiesel blending
				equipment in New Mexico for the purpose of establishing or expanding a
				biodiesel blending facility may receive a certificate of eligibility for a
				biodiesel blending facility tax credit.
B. The biodiesel blending facility tax credit
				is an amount equal to 30 percent of the biodiesel blending equipment's purchase
				cost plus 30 percent of the biodiesel blending equipment's installation
				cost.
C. The biodiesel blending
				facility tax credit shall not exceed $50,000 for biodiesel blending equipment
				installed at any one facility.
D.
				The annual aggregate amount of the biodiesel blending facility tax credit
				available to taxpayers is limited to $1,000,000. When the $1,000,000 limit for
				rack operations is reached based on the total certificates of eligibility the
				department has issued and New Mexico department of taxation and revenue has
				recorded, the department shall:
(1) if part
				of the eligible biodiesel blending facility tax credit is within the annual cap
				and part is over the annual cap, issue a certificate of eligibility for the
				amount under the annual cap for the applicable taxable year and issue a
				certificate of eligibility for the balance for the subsequent taxable year;
				or
(2) if no biodiesel blending
				facility tax credit funds are available, issue a certificate of eligibility for
				the next subsequent taxable year in which funds are available.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 21 - BIODIESEL BLENDING FACILITY TAX CREDIT › Section 3.13.21.10 - APPLICATION REVIEW PROCESS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The department considers certificate of
				eligibility applications in the order received, according to the day they are
				received, but not the time of day.
B. The department reviews the application
				package to calculate the biodiesel blending facility tax credit, check accuracy
				of the applicant's documentation and determine whether the department issues a
				certificate of eligibility for the biodiesel blending facility tax
				credit.
C. If the department
				verifies that no person has applied for a biodiesel blending facility tax
				credit for that biodiesel blending facility and if the department finds that
				the application package meets the requirements and funds for a biodiesel
				blending facility tax credit are available, the department issues the
				certificate of eligibility for a biodiesel blending facility tax credit. If
				funds for a biodiesel blending facility tax credit are partially available or
				not available, the department issues a certificate of eligibility for any
				amount that is available and a certificate of eligibility for the balance for
				the next taxable year in which funds are available. The certificate of
				eligibility shall include the taxpayer's contact information, taxpayer
				identification number, certificate of eligibility project number, the biodiesel
				blending facility tax credit amount or amounts and the biodiesel blending
				facility tax credit's taxable year or years.
D. The department disapproves an application
				that is not complete or correct. The department's disapproval letter shall
				state the reasons why the department disapproved the application. The applicant
				may resubmit the application package for the disapproved project. The
				department places the resubmitted application in the review schedule as if it
				were a new application.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 15 - FRANCHISE TAXES › Part 100 - STATE FRANCHISE TAXES › Section 3.15.100.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 15 - FRANCHISE TAXES › Part 100 - STATE FRANCHISE TAXES › Section 3.15.100.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
1/15/97, unless a later date is cited at the end of a
				  section, in which case the later date is the effective date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 15 - FRANCHISE TAXES › Part 100 - STATE FRANCHISE TAXES › Section 3.15.100.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to interpret, exemplify,
				  implement and enforce the provisions of the Corporate Income and Franchise Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 15 - FRANCHISE TAXES › Part 100 - STATE FRANCHISE TAXES › Section 3.15.100.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
Corporation defined for franchise tax purposes. As used in
				  Section
				  7-2A-5.1
				  NMSA 1978 the term "corporation" includes each and every domestic and foreign
				  corporation or other organization having or exercising its corporate franchise
				  in this state, whether active or not, or engaging in business in or deriving
				  income from this state, and which either is required to file a corporate income
				  tax return under the Internal Revenue Code or is a disregarded entity for
				  federal income tax purposes. A "disregarded entity" is an entity with only one
				  owner whose existence separate from the owner is disregarded for federal income
				  tax purposes; see for example internal revenue service regulations 301.770-1-2
				  and 3.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 15 - FRANCHISE TAXES › Part 100 - STATE FRANCHISE TAXES › Section 3.15.100.8 - LIMITED LIABILITY COMPANIES

Current through Register Vol. 35, No. 13, July 16, 2024
A. If it is not required to file a return as
				a corporation for federal income tax purposes, a limited liability company
				formed in New Mexico pursuant to the Limited Liability Company Act or formed
				pursuant to a similar act of another state is not a domestic or foreign
				corporation and therefore is not subject to the franchise tax.
B. Any limited liability company which is
				required to file a return as a corporation for federal income tax purposes and
				exercises its franchise in New Mexico is a corporation subject to the franchise
				tax.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 15 - FRANCHISE TAXES › Part 100 - STATE FRANCHISE TAXES › Section 3.15.100.9 - APPLICATION OF FRANCHISE TAX TO MEMBER OF A COMBINED OR CONSOLIDATED GROUP

Current through Register Vol. 35, No. 13, July 16, 2024
Each member of a combined group of unitary corporations and
				  each member of a consolidated group of corporations shall be subject
				  individually to the franchise tax imposed by Section
				  7-2A-5.1
				  NMSA 1978 even though a combined or consolidated state corporate income tax
				  return is filed by the combined or consolidated group.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 1 - GASOLINE TAX - GENERAL PROVISIONS › Section 3.16.1.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 1 - GASOLINE TAX - GENERAL PROVISIONS › Section 3.16.1.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all persons receiving, selling or
				  dealing in gasoline in New Mexico, including refineries, pipeline terminals,
				  importers and persons registered as distributors, wholesalers or
				  retailers.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 1 - GASOLINE TAX - GENERAL PROVISIONS › Section 3.16.1.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  9-11-6.2
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 1 - GASOLINE TAX - GENERAL PROVISIONS › Section 3.16.1.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
8/31/96, unless a later date is cited at the end of a
				  section, in which case the later date is the effective date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 1 - GASOLINE TAX - GENERAL PROVISIONS › Section 3.16.1.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to interpret, exemplify,
				  implement and enforce the provisions of the Gasoline Tax Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 1 - GASOLINE TAX - GENERAL PROVISIONS › Section 3.16.1.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
For purposes of Part 3.16.1 NMAC and forms and instructions
				  of the department with respect to the Gasoline Tax Act and the taxes imposed by
				  that act on or after July 1, 1999:
A.
				"acquired gasoline" means gasoline that comes into the possession of a person
				but which is not "received" within the meaning of Section
				7-13-2.1
				NMSA 1978 by that person;
B. "first
				receiver" means a refiner, an owner of stored gasoline, a person who for
				purposes of Subsection C of Section
				7-13-2.1
				NMSA 1978 blends gasoline with other substances, an owner of gasoline
				immediately after the gasoline is transported off a tribe's territory or an
				importer;
C. "owner of stored
				gasoline" means the person who owns gasoline stored at a pipeline terminal
				immediately prior to the loading of the gasoline;
D. "refiner" means, except for purposes of
				Section
				7-13-8
				NMSA 1978, a person who produces, refines, manufactures, blends or compounds
				gasoline at a refinery or other facility; and
E. "tax refund gasoline" means gasoline
				purchased by a person holding a permit issued under Section
				7-13-17
				NMSA 1978 and used other than in motorboats or vehicles licensed by the motor
				vehicle division to be operated on the highways of New Mexico, whether such
				gasoline is dyed or undyed.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 1 - GASOLINE TAX - GENERAL PROVISIONS › Section 3.16.1.8 - CITATIONS

Current through Register Vol. 35, No. 13, July 16, 2024
Unless otherwise stated, all citations of statutes within
				  Chapter 3.16 NMAC are to the New Mexico Statutes Annotated, 1978 (NMSA
				  1978).
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 3 - GASOLINE TAX - IMPOSITION AND RATE OF TAX › Section 3.16.3.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 3 - GASOLINE TAX - IMPOSITION AND RATE OF TAX › Section 3.16.3.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all persons (including Indian nations,
				  tribes and pueblos) receiving, selling or dealing in gasoline in New Mexico,
				  including refineries, pipeline terminals, importers and persons registered as
				  distributors, wholesalers or retailers.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 3 - GASOLINE TAX - IMPOSITION AND RATE OF TAX › Section 3.16.3.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  9-11-6.2
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 3 - GASOLINE TAX - IMPOSITION AND RATE OF TAX › Section 3.16.3.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
8/31/96, unless a later date is cited at the end of a
				  section, in which case the later date is the effective date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 3 - GASOLINE TAX - IMPOSITION AND RATE OF TAX › Section 3.16.3.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to interpret, exemplify,
				  implement and enforce the provisions of the Gasoline Tax Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 3 - GASOLINE TAX - IMPOSITION AND RATE OF TAX › Section 3.16.3.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
For the purposes of Part 3.16.3 NMAC:
A. "Indian tribe" means:
(1) an Indian nation, tribe or pueblo,
				including:
(a) any political subdivision,
				agency or department of that Indian nation, tribe or pueblo;
(b) any incorporated or unincorporated
				enterprise of the Indian nation, tribe or pueblo or its political subdivisions,
				agencies or departments; and
(c)
				any corporation required to be considered an Indian and therefore a member of
				the Indian nation, tribe or pueblo under
Eastern Navaho
				Industries, Inc. v. Bureau of Revenue
, 552 P.2d 805 (N.M. Ct.
				App. 1976); and
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 3 - GASOLINE TAX - IMPOSITION AND RATE OF TAX › Section 3.16.3.8 - WHEN GASOLINE IS "RECEIVED" - FIRST INSTANCE

Current through Register Vol. 35, No. 13, July 16, 2024
A. On or after July 1, 1999, gasoline is
				"received" in the first instance in the five circumstances specified in this
				subsection.
(1) Gasoline produced, refined,
				manufactured, blended or compounded at a refinery or other facility in this
				state or stored at a pipeline terminal in this state by any person is
				"received" by that person when it is loaded at the refinery, other facility or
				the pipeline terminal into tank cars, tank trucks, tank wagons or other types
				of transportation equipment.
(2)
				Gasoline produced, refined, manufactured, blended or compounded at a refinery
				in this state or stored at a pipeline terminal in this state by any person is
				"received" by that person when it is placed into any tank or other container
				from which sales or deliveries not involving transportation are made.
(3) Except for gasoline imported by pipeline
				and stored at a pipeline terminal in New Mexico and gasoline imported in the
				fuel supply tanks of motor vehicles, gasoline imported into this state is
				"received" at the time and place it is imported into this state; the person who
				is the owner of the gasoline at the time of importation is the person who has
				received the gasoline.
(4) When any
				substance other than gasoline is blended in New Mexico to produce gasoline and
				the blending takes place at a place other than a refinery or pipeline terminal,
				the product becomes gasoline and is "received" at the time and place the
				blending is completed. The person who owns the blended product at the time of
				blending is the person who has "received" the gasoline. Example: Gasoline is
				purchased at a pipeline terminal in New Mexico and brought to a blending
				facility. Ethanol is also purchased from an ethanol-producing plant and brought
				to the blending facility. The gasoline and ethanol are blended at the plant in
				a 9 to 1 ratio. The resultant mixture is "gasoline" for the purposes of the
				Gasoline Tax Act. The person who blended the product is the person who
				"received" the additional gallons of gasoline (representing the addition of the
				ethanol) at the time of blending. See Section 3.16.5.9 NMAC.
(5) When an Indian tribe receives gasoline
				within its own tribal territory and does not pay gasoline tax with respect to
				that gasoline because of federal preemption, the gasoline is again received at
				the time and place it leaves that tribe's territory by any means other than in
				the fuel supply tank of a motor vehicle. The person who owns the gasoline at
				the time the gasoline leaves the tribe's territory is the person who has
				"received" the gasoline and, for purposes of reporting and paying tax in this
				situation, is deemed to be a distributor.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 3 - GASOLINE TAX - IMPOSITION AND RATE OF TAX › Section 3.16.3.9 - WHEN GASOLINE IS "RECEIVED" - SHIFT TO REGISTERED DISTRIBUTOR

Current through Register Vol. 35, No. 13, July 16, 2024
A. The definition
				of "received" imposes the gasoline tax in the first instance on first
				receivers. If, however, gasoline is delivered at a pipeline terminal or
				refinery in New Mexico by an owner of stored gasoline or refiner to a
				distributor registered under the Gasoline Tax Act, the incidence of the tax
				shifts to the registered distributor. In this case the registered distributor
				has received the gasoline and is responsible for reporting and paying the
				gasoline tax with respect to the gasoline received. The distributor receiving
				the gasoline may not further shift the receipt of the gasoline and the
				obligation to report and pay gasoline tax to any other person, even if the
				gasoline is subsequently sold or otherwise transferred to another registered
				distributor.
(1) Example 1: At its refinery
				in New Mexico, refiner R loads 8,000 gallons of gasoline into a tank truck
				owned by distributor A. In this case A has received the gasoline at the
				refinery (the place of delivery) and is responsible for reporting and paying
				the gasoline tax.
(2) Example 2:
				Same facts as example 1, except that distributor A then sells some of the
				gasoline to distributor B and unloads it from the truck into a tank belonging
				to distributor B. Distributor A has received the gasoline and remains liable
				for the gasoline tax. Distributor B has not received the gasoline.
(3) Example 3: At the pipeline terminal in
				New Mexico, gasoline is loaded into a tank truck owned by T, a trucking
				company. T is not a registered distributor but picks up the gasoline for the
				account of, and delivers it to, 3 registered distributors. In this case, T has
				accepted delivery of the gasoline at the pipeline terminal as agent for the
				distributors. The three distributors have received gasoline and must report and
				pay gasoline tax in proportion to the gasoline each received.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 3 - GASOLINE TAX - IMPOSITION AND RATE OF TAX › Section 3.16.3.10 - PREEMPTION OF TAX BY FEDERAL LAW

Current through Register Vol. 35, No. 13, July 16, 2024
A. Gasoline received by an Indian tribe on
				its own territory is not subject to the taxes imposed by the Gasoline Tax Act
				if taxation of the gasoline received is prohibited by federal law.
B. On or after July 1, 1999, an Indian tribe
				that is a distributor receives gasoline on its own territory when:
(1) the Indian tribe imports gasoline into
				New Mexico directly onto the tribe's territory without crossing any intervening
				ground in New Mexico that is not its own tribal territory;
(2) the Indian tribe blends on its own tribal
				territory a substance other than gasoline to produce gasoline; or
(3) the gasoline is loaded into the Indian
				tribe's tank trucks or other transportation equipment at a rack located on its
				own tribal territory.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 3 - GASOLINE TAX - IMPOSITION AND RATE OF TAX › Section 3.16.3.11 - INVENTORY REPORT

Current through Register Vol. 35, No. 13, July 16, 2024
On or before the twenty-fifth day of August for those years
				  in which there is an increase or decrease in the tax rate, each gasoline
				  distributor and wholesaler shall report on forms provided by the department the
				  number of gallons of gasoline which that distributor or wholesaler has in
				  inventory as of July 1. Reports are required even if no inventory
				  exists.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 3 - GASOLINE TAX - IMPOSITION AND RATE OF TAX › Section 3.16.3.12 - EXCHANGES

Current through Register Vol. 35, No. 13, July 16, 2024
A. Exchanges of
				gasoline between one refiner or pipeline terminal operator and another are
				exempt deliveries of gasoline under Paragraph 2 of Subsection N of Section
				7-13-2 NMSA 1978.
				When pipeline terminal operators or refiners exchange gasoline, the person to
				whom the gasoline is delivered takes the place of the person who delivered the
				gasoline.
B. Example: X is a
				pipeline terminal operator in New Mexico. Y is a refiner in another state and
				operates no refinery or pipeline terminal in New Mexico. Z is a registered
				distributor in New Mexico who distributes Y's brands of gasoline. Because Y
				does not operate a refinery or pipeline terminal in New Mexico from which it
				can supply its own distributors and retailers, Y arranges with X to exchange
				Y's gasoline stored at a pipeline terminal out of state with X's gasoline
				stored at a New Mexico pipeline terminal. Y then ships or delivers Y's New
				Mexico gasoline to Z. In this example, Y will be treated as a pipeline terminal
				operator in New Mexico. Because Y ships or delivers gasoline to Z, a registered
				distributor, Z has received the gasoline and the obligation to report and pay
				the tax, just as if X had shipped or delivered the gasoline to Z.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 4 - GASOLINE TAX - DEDUCTIONS › Section 3.16.4.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 4 - GASOLINE TAX - DEDUCTIONS › Section 3.16.4.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all persons receiving, selling or
				  dealing in gasoline in New Mexico, including refineries, pipeline terminals,
				  importers and persons registered as distributors, wholesalers or
				  retailers.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 4 - GASOLINE TAX - DEDUCTIONS › Section 3.16.4.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
8/31/96, unless a later date is cited at the end of a
				  section, in which case the later date is the effective date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 4 - GASOLINE TAX - DEDUCTIONS › Section 3.16.4.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to interpret, exemplify,
				  implement and enforce the provisions of the Gasoline Tax Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 16 - MOTOR VEHICLE FUEL TAXES › Part 4 - GASOLINE TAX - DEDUCTIONS › Section 3.16.4.8 - SATISFACTORY PROOF

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Satisfactory proof of the export of gasoline consists of a manifest or bill of
				lading showing the amount of gasoline, the name and address of the person to
				whom the gasoline is sent and the destination outside New Mexico. The person
				must also comply with the requirements of Subsection A of Section
				7-13-4
				NMSA 1978.
B. Proof of sale to the
				United States or any agency or instrumentality thereof or a NATO force shall be
				furnished to the department upon request. Proof includes documentation, such as
				contracts, purchase orders and invoices, showing that the purchaser was the
				United States or a NATO force.
C.
				Copies of all documents supporting deductible sales must be retained for at
				least three years from the end of the calendar year in which the gasoline was
				sold.
D. This section is applicable
				to exports or sales for export on or after June 1, 1997.