reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 1 - GENERAL PROVISIONS › Section 3.12.1.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to (1) all registrants, owners and
				  operators of motor vehicles with a declared gross weight of 12,000 pounds or
				  more if the motor vehicles are used or intended to be used on New Mexico
				  highways, whether or not the motor vehicles are registered with New Mexico and
				  (2) all persons transporting motor vehicles in New Mexico if the person is
				  either engaged in the business of transporting motor vehicles or is delivering
				  the motor vehicle to its purchaser.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 1 - GENERAL PROVISIONS › Section 3.12.1.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
9/14/96, 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 12 - HIGHWAY USE TAXES AND FEES › Part 1 - GENERAL PROVISIONS › Section 3.12.1.6 - 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 Weight Distance Tax Act, Trip Tax
				  Act and Caravan Tax.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 1 - GENERAL PROVISIONS › Section 3.12.1.8 - CITATION OF STATUTES

Current through Register Vol. 35, No. 13, July 16, 2024
Unless otherwise stated, all citations of statutes within
				  Chapter 3.12 NMAC are to the New Mexico Statutes Annotated, 1978 (NMSA
				  1978).
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 1 - GENERAL PROVISIONS › Section 3.12.1.9 - LEASE OPERATORS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Any person named on a validly-issued tax identification card is responsible for
				maintaining all records which demonstrate that any and all highway use taxes
				and fees incurred by the operation of registered vehicles on New Mexico
				highways have been paid.
B. When a
				vehicle is leased and there is no validly-issued tax identification card for
				it, the following persons shall be held ultimately responsible for
				demonstrating that all applicable fees and taxes have been paid. In the event
				that such payment cannot be demonstrated, these same persons shall be held
				financially responsible for payment of all unpaid fees and taxes due, and the
				vehicle may be detained until such payment has been made.
(1) If the commercial motor carrier vehicle
				is owned by a company which is in the business of vehicle rental or leasing and
				the vehicle is leased to customers without a driver, the vehicle owner (lessor)
				is financially responsible.
(2) If
				the commercial motor carrier vehicle is owned by an owner/operator and both the
				owner/operator (lessor) and the vehicle falls under the employment or control
				and custody of the lessee, the lessee is financially responsible.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 5 - EXEMPTION FROM TAX › Section 3.12.5.1 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 5 - EXEMPTION FROM TAX › Section 3.12.5.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all registrants, owners and operators of
				  motor vehicles with a declared gross weight of 26,000 pounds or more if the
				  motor vehicles are used or intended to be used on New Mexico highways, whether
				  or not the motor vehicles are registered with New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 5 - EXEMPTION FROM TAX › Section 3.12.5.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
9/14/96, 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 12 - HIGHWAY USE TAXES AND FEES › Part 5 - EXEMPTION FROM TAX › Section 3.12.5.6 - 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 Weight Distance Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 5 - EXEMPTION FROM TAX › Section 3.12.5.8 - REGISTRATION OF SCHOOL BUSES REQUIRED

Current through Register Vol. 35, No. 13, July 16, 2024
Only those school buses registered under the provisions of
				  Section
				  66-6-12
				  NMSA 1978, those buses used exclusively for the transportation of agricultural
				  laborers registered under the provisions of Section
				  66-6-8
				  NMSA 1978, and those buses operated by religious or nonprofit charitable
				  organizations registered under the provisions of Section
				  66-6-5 NMSA
				  1978 are exempt from the imposition of the weight distance tax under Section
				  7-15A-5 NMSA
				  1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 5 - EXEMPTION FROM TAX › Section 3.12.5.9 - OFF HIGHWAY USE NOT SUBJECT TO TAX

Current through Register Vol. 35, No. 13, July 16, 2024
A. Any registrant, owner or operator of a
				motor vehicle who does not use that motor vehicle on the highways of this
				state, in whole or in part, is not subject to the tax imposed by Section
				7-15A-3
				NMSA 1978 to the extent that the motor vehicle is not operated on the highways
				of this state.
B. For the purposes
				of section 3.12.5.9 NMAC, "highways of this state" include those roads,
				highways, thoroughfares, streets and other ways generally open to the use of
				the public as a matter of right for the purpose of motor vehicle travel,
				regardless of whether it is temporarily closed for the purpose of construction,
				reconstruction, maintenance or repair, if the road, highway, thoroughfare,
				street or other way is or was constructed, reconstructed, maintained or
				repaired with the use of any federal, state or local government or Indian
				nation, tribe or pueblo government funding.
C. Any road, highway, thoroughfare, street or
				other way is not a "highway of this state" if it is or was constructed,
				reconstructed, maintained or repaired solely with private funds.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 6 - TAX RATE FOR MOTOR VEHICLES OTHER THAN BUSES - REDUCTION OF RATE FOR ONE-WAY HAULS › Section 3.12.6.1 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 6 - TAX RATE FOR MOTOR VEHICLES OTHER THAN BUSES - REDUCTION OF RATE FOR ONE-WAY HAULS › Section 3.12.6.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all registrants, owners and operators of
				  motor vehicles with a declared gross weight of 26,000 pounds or more if the
				  motor vehicles are used or intended to be used on New Mexico highways, whether
				  or not the motor vehicles are registered with New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 6 - TAX RATE FOR MOTOR VEHICLES OTHER THAN BUSES - REDUCTION OF RATE FOR ONE-WAY HAULS › Section 3.12.6.3 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 6 - TAX RATE FOR MOTOR VEHICLES OTHER THAN BUSES - REDUCTION OF RATE FOR ONE-WAY HAULS › Section 3.12.6.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
9/14/96, 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 12 - HIGHWAY USE TAXES AND FEES › Part 6 - TAX RATE FOR MOTOR VEHICLES OTHER THAN BUSES - REDUCTION OF RATE FOR ONE-WAY HAULS › Section 3.12.6.6 - 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 Weight Distance Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 6 - TAX RATE FOR MOTOR VEHICLES OTHER THAN BUSES - REDUCTION OF RATE FOR ONE-WAY HAULS › Section 3.12.6.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
For the purposes of this part (3.12.6 NMAC):
A. "empty miles" means the number of miles
				traveled on New Mexico roads when the vehicle or vehicle combination is
				transporting no load whatsoever;
B.
				"loaded miles" means the number of miles traveled on New Mexico roads when the
				vehicle or vehicle combination is transporting any load, regardless of whether
				a fee is charged for the transportation; and
C. "one-way hauler" means a vehicle described
				in Subsection B of
				7-15A-6
				NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 6 - TAX RATE FOR MOTOR VEHICLES OTHER THAN BUSES - REDUCTION OF RATE FOR ONE-WAY HAULS › Section 3.12.6.8 - QUALIFICATION AS ONE-WAY HAULER

Current through Register Vol. 35, No. 13, July 16, 2024
A. At the time that a vehicle is registered
				or reregistered under the provisions of the Motor Vehicle Code, the registrant,
				owner or operator of the vehicle may identify the vehicle as a one-way hauler
				if the registrant, owner or operator reasonably believes it will be qualified
				during that registration year for the rate reduction provided by Subsection B
				of Section
				7-15A-6
				NMSA 1978.
B. Only those vehicles
				that the registrant, owner or operator can reasonably expect at the time of
				registration or reregistration to travel forty-five percent (45%) or more of
				all miles traveled in New Mexico to be traveled empty of all load may be
				qualified as one-way haul vehicles.
C. Identification of a specific vehicle at
				the time of registration or reregistration as being qualified for the rate
				reduction provided by Subsection B of Section
				7-15A-6
				NMSA 1978 does not entitle the registrant, owner or operator of the vehicle to
				use the rate reduction in any reporting period that the vehicle does not travel
				forty-five percent (45%) or more of all New Mexico miles traveled empty of all
				load.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 6 - TAX RATE FOR MOTOR VEHICLES OTHER THAN BUSES - REDUCTION OF RATE FOR ONE-WAY HAULS › Section 3.12.6.9 - DISQUALIFICATION AS ONE-WAY HAULER

Current through Register Vol. 35, No. 13, July 16, 2024
A. If any registrant, owner or operator has
				identified one or more vehicles as one-way haulers for a registration year, and
				during that year any identified vehicle does not qualify for the rate reduction
				provided by Subsection B of Section
				7-15A-6
				NMSA 1978 for at least three (3) reporting periods during the registration
				period, that registrant, owner or operator may not identify that vehicle as a
				one-way hauler for the subsequent registration year.
B. If a vehicle is disqualified as a one-way
				hauler under the provisions of section 3.12.6.9 NMAC for any registration year,
				but does travel at least forty-five percent (45%) of all miles traveled in New
				Mexico are empty miles, the registrant, owner or operator may file an amended
				return or returns and claim for refund for the difference between the tax paid
				and the tax that would have been paid had the vehicle been qualified for the
				reduced rates provided by Subsection B of Section
				7-15A-6
				NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 6 - TAX RATE FOR MOTOR VEHICLES OTHER THAN BUSES - REDUCTION OF RATE FOR ONE-WAY HAULS › Section 3.12.6.10 - ONE-WAY HAULERS - REPORTING REQUIREMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. For each one-way hauler, the total number
				of empty miles in New Mexico and the total number of loaded miles traveled in
				New Mexico shall be reported to the department on a quarterly basis on forms
				supplied by the department, unless the taxpayer has qualified for annual
				reporting under Section
				7-15A-9
				NMSA 1978.
B. For each reporting
				period during the registration year, tax shall be due at the rates specified in
				Subsection A of
				7-15A-6
				NMSA 1978, and not the reduced rates specified in Subsection B of
				7-15A-6
				NMSA 1978, for each vehicle whose reported percentage of empty miles traveled
				on New Mexico roads is less than forty-five percent (45%).
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 6 - TAX RATE FOR MOTOR VEHICLES OTHER THAN BUSES - REDUCTION OF RATE FOR ONE-WAY HAULS › Section 3.12.6.11 - ONE-WAY HAULERS - REQUIRED RECORDS

Current through Register Vol. 35, No. 13, July 16, 2024
One-way haulers shall maintain the following records on a
				  reporting period basis. All records shall be referenced by vehicle unit
				  number:
A. Vehicle trip mileage
				records for each vehicle operated in New Mexico. The mileage records shall
				reflect the total empty miles and the total loaded miles traveled on New Mexico
				roads. Accurate trip mileage records indicating empty and loaded miles may
				include:
(1) accurate map mileage for each
				trip;
(2) hubometer or odometer
				readings; or
(3) vehicle-specific
				log books.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 9 - PAYMENT TO DEPARTMENT - RECORD-KEEPING REQUIREMENTS › Section 3.12.9.1 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 9 - PAYMENT TO DEPARTMENT - RECORD-KEEPING REQUIREMENTS › Section 3.12.9.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all registrants, owners and operators of
				  motor vehicles with a declared gross weight of 26,000 pounds or more if the
				  motor vehicles are used or intended to be used on New Mexico highways, whether
				  or not the motor vehicles are registered with New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 9 - PAYMENT TO DEPARTMENT - RECORD-KEEPING REQUIREMENTS › Section 3.12.9.3 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 9 - PAYMENT TO DEPARTMENT - RECORD-KEEPING REQUIREMENTS › Section 3.12.9.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
9/14/96, 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 12 - HIGHWAY USE TAXES AND FEES › Part 9 - PAYMENT TO DEPARTMENT - RECORD-KEEPING REQUIREMENTS › Section 3.12.9.6 - 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 Weight Distance Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 9 - PAYMENT TO DEPARTMENT - RECORD-KEEPING REQUIREMENTS › Section 3.12.9.8 - LEASE OPERATIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Any person named on a valid tax identification card issued by the department is
				responsible for maintaining all records which demonstrate that any and all
				highway use taxes and fees incurred by the operation of registered vehicles on
				New Mexico highways have been paid.
B. When a vehicle is leased and there is no
				valid tax identification card issued by the department for it, the following
				persons shall be held ultimately responsible for demonstrating that all
				applicable fees and taxes have been paid. In the event that such payment cannot
				be demonstrated, these same persons shall be held financially responsible for
				payment of all unpaid fees and taxes due, and the vehicle may be detained until
				such payment has been made.
(1) If the
				commercial motor carrier vehicle is owned by a company which is in the business
				of vehicle rental or leasing and the vehicle is leased to customers without a
				driver, the vehicle owner (lessor) is financially responsible.
(2) If the commercial motor carrier vehicle
				is owned by an owner/operator and both the owner/operator (lessor) and the
				vehicle falls under the employment or control and custody of the lessee, the
				lessee is financially responsible.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 9 - PAYMENT TO DEPARTMENT - RECORD-KEEPING REQUIREMENTS › Section 3.12.9.9 - WEIGHT DISTANCE TAX RETURN

Current through Register Vol. 35, No. 13, July 16, 2024
The weight distance tax return shall be submitted on forms
				  provided or approved by the department and must be signed by the taxpayer or
				  his authorized agent.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 9 - PAYMENT TO DEPARTMENT - RECORD-KEEPING REQUIREMENTS › Section 3.12.9.10 - DETERMINATION OF TIMELINESS

Current through Register Vol. 35, No. 13, July 16, 2024
Determination of timeliness for notices, returns,
				  applications and payments of any tax or fee imposed under the Weight Distance
				  Tax Act will be made in conformance with the requirements of Section
				  7-1-9
				  NMSA 1978 and the regulations thereunder.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 9 - PAYMENT TO DEPARTMENT - RECORD-KEEPING REQUIREMENTS › Section 3.12.9.11 - CHANGE OF ADDRESS - NOTICES

Current through Register Vol. 35, No. 13, July 16, 2024
Taxpayers must inform the department of any change of
				  address. Any notice to a taxpayer is presumed to be effective and binding on
				  that taxpayer when it is sent to the last address shown in the department's
				  records.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 10 - ANNUAL FILING FEE › Section 3.12.10.1 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 10 - ANNUAL FILING FEE › Section 3.12.10.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all registrants, owners and operators of
				  motor vehicles with a declared gross weight of 26,000 pounds or more if the
				  motor vehicles are used or intended to be used on New Mexico highways, whether
				  or not the motor vehicles are registered with New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 10 - ANNUAL FILING FEE › Section 3.12.10.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
9/14/96, 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 12 - HIGHWAY USE TAXES AND FEES › Part 10 - ANNUAL FILING FEE › Section 3.12.10.6 - 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 Weight Distance Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 11 - ANNUAL SAFETY AND TRAINING FEE - SCHEDULE - DISTRIBUTION › Section 3.12.11.1 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 11 - ANNUAL SAFETY AND TRAINING FEE - SCHEDULE - DISTRIBUTION › Section 3.12.11.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all registrants, owners and operators of
				  motor vehicles with a declared gross weight of 26,000 pounds or more if the
				  motor vehicles are used or intended to be used on New Mexico highways, whether
				  or not the motor vehicles are registered with New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 11 - ANNUAL SAFETY AND TRAINING FEE - SCHEDULE - DISTRIBUTION › Section 3.12.11.3 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 11 - ANNUAL SAFETY AND TRAINING FEE - SCHEDULE - DISTRIBUTION › Section 3.12.11.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
9/14/96, 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 12 - HIGHWAY USE TAXES AND FEES › Part 11 - ANNUAL SAFETY AND TRAINING FEE - SCHEDULE - DISTRIBUTION › Section 3.12.11.6 - 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 Weight Distance Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 12 - WEIGHT DISTANCE TAX IDENTIFICATION PERMIT › Section 3.12.12.1 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 12 - WEIGHT DISTANCE TAX IDENTIFICATION PERMIT › Section 3.12.12.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all registrants, owners and operators of
				  motor vehicles with a declared gross weight of 26,001 pounds or more if the
				  motor vehicles are used or intended to be used on New Mexico highways, when the
				  motor vehicle is registered with New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 12 - WEIGHT DISTANCE TAX IDENTIFICATION PERMIT › Section 3.12.12.3 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 12 - WEIGHT DISTANCE TAX IDENTIFICATION PERMIT › Section 3.12.12.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
September 25, 2018, 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 12 - HIGHWAY USE TAXES AND FEES › Part 12 - WEIGHT DISTANCE TAX IDENTIFICATION PERMIT › Section 3.12.12.6 - 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 Weight Distance Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 12 - WEIGHT DISTANCE TAX IDENTIFICATION PERMIT › Section 3.12.12.8 - WEIGHT DISTANCE TAX IDENTIFICATION PERMIT TO BE ISSUED

Current through Register Vol. 35, No. 13, July 16, 2024
A. Upon receipt of
				an approved application by a motor carrier, the department will issue weight
				distance tax identification permit(s) to the motor carrier for the number of
				vehicles they own that are subject to the weight distance tax. The motor
				carrier will be required to identify each permit they receive to a specific
				vehicle by indicating the unit and vehicle identification numbers on the face
				of the permit.
B. The weight
				distance tax identification permit is an administrative certificate that will
				be issued on non-reproducible paper to motor carriers who submit an approved
				application.
C. Weight distance tax
				identification permits issued by the department will only be valid for the
				calendar year for which they are issued.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 12 - WEIGHT DISTANCE TAX IDENTIFICATION PERMIT › Section 3.12.12.9 - WEIGHT DISTANCE TAX IDENTIFICATION PERMIT - ADMINISTRATIVE FEE

Current through Register Vol. 35, No. 13, July 16, 2024
Any person that applies for and receives a weight distance
				  tax identification permit shall pay an administrative fee. The administrative
				  fee shall be ten dollars ($10.00) upon the effective date of this regulation.
				  The administrative fee may be increased or decreased by the secretary after due
				  consideration of the costs of issuing and administering weight distance tax
				  identification permits and of enforcing permits use. Persons who have current
				  weight distance tax identification permits will be notified if the secretary
				  changes the fee at least 30 days prior to effective date of a change in the
				  fee. The administrative fee will be deposited in the weight distance tax
				  identification permit fund to pay the costs of issuing and administering weight
				  distance tax identification permits and costs incurred by the department, the
				  motor transportation division of the department of public safety and the
				  department of transportation to enforce the use of such permits by motor
				  carriers in accordance with the Weight Distance Tax Act. The administrative fee
				  will be imposed for every permit, including annual renewals and
				  replacements.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 13 - CIVIL PENALTIES - FAILURE TO CORRECTLY REPORT › Section 3.12.13.1 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 13 - CIVIL PENALTIES - FAILURE TO CORRECTLY REPORT › Section 3.12.13.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all registrants, owners and operators of
				  motor vehicles with a declared gross weight of 26,001 pounds or more if the
				  motor vehicles are used or intended to be used on New Mexico highways, when the
				  motor vehicle is registered with New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 13 - CIVIL PENALTIES - FAILURE TO CORRECTLY REPORT › Section 3.12.13.3 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 13 - CIVIL PENALTIES - FAILURE TO CORRECTLY REPORT › Section 3.12.13.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
3/15/10, 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 12 - HIGHWAY USE TAXES AND FEES › Part 13 - CIVIL PENALTIES - FAILURE TO CORRECTLY REPORT › Section 3.12.13.6 - 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 Weight Distance Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 13 - CIVIL PENALTIES - FAILURE TO CORRECTLY REPORT › Section 3.12.13.8 - WHEN CIVIL PENALTIES ARE IMPOSED

Current through Register Vol. 35, No. 13, July 16, 2024
The civil penalties under Section
				  7-15A-16
				  NMSA 1978 will be imposed only in connection with audits conducted by the New
				  Mexico taxation and revenue department showing that a commercial motor carrier
				  has underreported declared gross vehicle weight or miles driven in New Mexico.
				  The types of audits include, but are not limited to, field audits and limited
				  scope audits. Reporting of additional gross vehicle weight or miles driven in
				  New Mexico on amended returns prepared by the taxpayer or taxpayer's
				  representative and managed audits will not be subject to the civil penalties
				  under Section
				  7-15A-16
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 99 - SPECIAL FUEL USER PERMITS › Section 3.12.99.1 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 99 - SPECIAL FUEL USER PERMITS › Section 3.12.99.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to commercial motor carriers using special
				  fuel and having a gross vehicle weight in excess of twenty-six thousand pounds
				  operating in the state of New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 99 - SPECIAL FUEL USER PERMITS › Section 3.12.99.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Sections 9-5-1,
				  9-11-6.2,
				  7-16A-2.1,
				  7-16A-19
				  and 7-16A-19.1 NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 99 - SPECIAL FUEL USER PERMITS › Section 3.12.99.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to interpret, exemplify,
				  implement and enforce the Special Fuel Use Permits provisions of Chapter 7,
				  Article 16A of NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 99 - SPECIAL FUEL USER PERMITS › Section 3.12.99.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
As used in this rule:
A.
"Department"
has the same
				meaning as defined in Subsection F of 7-16A-2 NMSA 1978.
B.
"International border commercial
				zone"
has the same meaning as defined in Subsection D of 7-16A-19.1 NMSA
				1978.
C.
"Person"
has
				the same meaning as defined in Subsection K of 7-16A-2 NMSA 1978.
D.
"Special fuel user"
has the
				same meaning as defined in Subsection R of 7-16A-2 NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 99 - SPECIAL FUEL USER PERMITS › Section 3.12.99.8 - TEMPORARY SPECIAL FUEL USER PERMIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. On a form provided by the department, a
				special fuel user whose vehicle is not registered with the department shall
				acquire from the department, before operating the vehicle on New Mexico
				highways, a temporary special fuel user permit valid for one calendar day only
				or for one entry into and one exit out of New Mexico.
B. A special fuel user whose vehicle is not
				registered with the department, that applies for a temporary special fuel user
				permit valid for one calendar day only, for one entry into and one exit out of
				New Mexico, shall pay five dollars ($5.00) for each motor vehicle.
C. A special fuel user operating under a
				temporary special fuel user permit shall pay a special fuel user tax of five
				cents ($.05) per mile for each mile traveled in New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 99 - SPECIAL FUEL USER PERMITS › Section 3.12.99.9 - BORDER CROSSING SPECIAL FUEL USER PERMIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. A special fuel user who operates a
				commercial motor carrier vehicle registered or titled in Mexico, who is engaged
				primarily in movement across the New Mexico-Mexico border and into or from an
				international border commercial zone and whose exclusive use of New Mexico
				highways is limited to an area within ten miles of the New Mexico-Mexico
				border, may apply for, on a form approved by the department, a quarterly,
				semi-annual or annual border crossing special fuel user permit.
B. The department shall issue the permit if
				it approves the application and upon payment of the fee for the border crossing
				special fuel user permit.
C. The
				fee for the border crossing special fuel user permit shall be:
(1) for a quarterly permit, one hundred
				twenty-five dollars ($125);
(2) for
				a semi-annual permit, two hundred dollars ($200); and
(3) for an annual permit, three hundred fifty
				dollars ($350).
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 99 - SPECIAL FUEL USER PERMITS › Section 3.12.99.10 - VIOLATION OF THE SPECIAL FUELS SUPPLIER TAX ACT

Current through Register Vol. 35, No. 13, July 16, 2024
A. It is a violation of the special fuels
				supplier tax act for a person to act as a temporary special fuel user without
				possessing a valid temporary special fuel user permit issued by the
				department.
B. It is a violation of
				the special fuels supplier tax act for a person holding a valid border crossing
				special fuel user permit to travel in the motor carrier vehicle for which the
				permit was issued on New Mexico highways, outside of the area in which the
				permit authorizes travel, unless the person may otherwise under law engage in
				that travel.
C. In addition to any
				other penalty that may apply, a person who violates the terms of use of a
				border crossing special fuel user permit, is subject to a fine of three hundred
				dollars ($300).
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 99 - SPECIAL FUEL USER PERMITS › Section 3.12.99.11 - REVOCATION OF SPECIAL FUEL USER PERMITS

Current through Register Vol. 35, No. 13, July 16, 2024
A. After notice and a hearing, the department
				may revoke the border crossing special fuel user permit of a special fuel user
				found to have violated the special fuels supplier tax act.
B. The hearing shall be conducted pursuant to
				the tax administration act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 100 - TRIP TAX - GENERAL PROVISIONS › Section 3.12.100.1 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 100 - TRIP TAX - GENERAL PROVISIONS › Section 3.12.100.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all registrants, owners and operators of
				  motor vehicles with a declared gross weight of 12,000 pounds or more if the
				  motor vehicles are used or intended to be used on New Mexico highways, whether
				  or not the motor vehicles are registered with New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 100 - TRIP TAX - GENERAL PROVISIONS › Section 3.12.100.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
9/14/96, 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 12 - HIGHWAY USE TAXES AND FEES › Part 100 - TRIP TAX - GENERAL PROVISIONS › Section 3.12.100.6 - 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 Trip Tax Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 100 - TRIP TAX - GENERAL PROVISIONS › Section 3.12.100.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
As used in Parts 3.12.100 and 3.12.101 NMAC:
A. "custom harvesting operation" means the
				temporary provision of agricultural harvesting implements, with or without
				operators, for consideration to a person engaged in the business of farming or
				ranching;
B. "foreign-based
				commercial motor vehicle" means a commercial motor vehicle that is registered
				and titled in a jurisdiction other than New Mexico;
C. "owner" means the person who holds legal
				title to the foreign-based commercial motor vehicle; and
D. "person" means any individual or any other
				legal entity.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 100 - TRIP TAX - GENERAL PROVISIONS › Section 3.12.100.8 - FEDERALLY LICENSED CUSTOM BROKERS ARE OPERATORS

Current through Register Vol. 35, No. 13, July 16, 2024
A. For the purposes of Section
				7-15-3.1
				NMSA 1978, a federally licensed customs broker is an operator and may purchase
				prepaid trip permits for use by any person performing transportation services
				on behalf of the federally licensed customs broker. Prepaid trip tax permits
				will be issued in the broker's name.
B. If a prepaid trip tax permit is used by a
				person other than the broker, the person shall have in his possession a
				document that explains the relationship between the person and the broker. This
				document shall be available for inspection by any authorized department
				employee upon request of that authorized employee.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 101 - TRIP TAX - PERMITS › Section 3.12.101.1 - 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 12 - HIGHWAY USE TAXES AND FEES › Part 101 - TRIP TAX - PERMITS › Section 3.12.101.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all registrants, owners and operators of
				  motor vehicles with a declared gross weight of 12,000 pounds or more if the
				  motor vehicles are used or intended to be used on New Mexico highways, whether
				  or not the motor vehicles are registered with New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 101 - TRIP TAX - PERMITS › Section 3.12.101.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
9/14/96, 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 12 - HIGHWAY USE TAXES AND FEES › Part 101 - TRIP TAX - PERMITS › Section 3.12.101.6 - 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 Trip Tax Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 101 - TRIP TAX - PERMITS › Section 3.12.101.8 - PREPAID TRIP TAX PERMITS - APPLICATION - ISSUANCE OF PERMITS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Only
				registrants, owners or operators of foreign-based commercial motor vehicles may
				apply for prepaid trip tax permits.
B. Prepaid trip tax permits shall be applied
				for by submitting a completed "prepaid trip tax permit application" form
				provided by the department or a reproduction of that form. Permits may be
				applied for in the amount of fifty dollars ($50.00) and exact multiples
				thereof. No application shall be approved prior to the applicant's payment of
				the appropriate permit fee. The department will accept only cashier's checks or
				other certified funds stated in United States dollars in payment of a prepaid
				trip tax permit.
C. Applicants may
				apply for more than one prepaid trip tax permit.
D. Incomplete applications will not be
				approved and permits will not be issued. The applicant may complete and
				re-submit the application or, with respect to any payment made by the applicant
				with respect to the rejected application, may request either a refund of the
				fee submitted or application of it to another tax liability owed by the
				applicant to New Mexico.
E. With
				the receipt of the appropriate fee and a completed application form, the
				department will issue prepaid trip tax permits to the applicant.
F. A prepaid trip tax permit expires six
				months after the date of issuance.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 101 - TRIP TAX - PERMITS › Section 3.12.101.9 - PREPAID TRIP TAX PERMITS - CONDITIONS OF USE - VOIDING OF PERMITS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Prepaid trip tax
				permits may be used in any vehicle under the control of the registrant, owner
				or operator, but may not be used by any person not specifically named on the
				permit, except as provided 3.12.100.8 NMAC.
B. The prepaid trip tax permit must be
				carried in the vehicle. The prepaid trip tax permit must be presented to an
				authorized department employee on request of the authorized employee.
C. Any violation of the conditions of the
				prepaid trip tax permit is cause for voiding of the permit in addition to any
				other penalties provided by law. If a permit is voided because of violation of
				the conditions of use, any fee balance remaining on the permit is also voided
				and shall not be refunded.
D. Once
				the balance of a prepaid trip tax permit is reduced to zero, the permit is
				void.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 101 - TRIP TAX - PERMITS › Section 3.12.101.10 - PREPAID TRIP TAX PERMITS - GENERAL ADMINISTRATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. The prepaid trip tax permit may be used to
				pay the following:
(1) Trip tax computed on
				the miles to be traveled in New Mexico and the gross vehicle weight or
				combination gross vehicle weight, in accordance with Subsection B of Section
				7-15-3.1
				NMSA 1978.
(2) If the vehicle is
				special fuel powered and has a gross vehicle weight or combination gross
				vehicle weight of more than 26,000 pounds:
(a) the special fuel permit fee of $5.00 for
				each trip; and
(b) the special fuel
				tax of five cents (.05) for each mile traveled in New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 12 - HIGHWAY USE TAXES AND FEES › Part 101 - TRIP TAX - PERMITS › Section 3.12.101.11 - PREPAID TRIP TAX PERMITS - REFUND POLICY

Current through Register Vol. 35, No. 13, July 16, 2024
Except as provided in
				  3.12.101.8
				  NMAC, no refunds will be made for unused prepaid trip tax permit balances,
				  whether the permit is lost, expires or is voided. Unused balances may not be
				  transferred to any other prepaid trip tax permit.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 1 - GENERAL PROVISIONS › Section 3.13.1.1 - 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 13 - BUSINESS TAX CREDITS › Part 1 - GENERAL PROVISIONS › Section 3.13.1.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
9/14/96, 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 13 - BUSINESS TAX CREDITS › Part 1 - GENERAL PROVISIONS › Section 3.13.1.6 - 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 Investment Credit Act, the Call
				  Center Equipment Tax Credit Act, the rural job tax credit and such other tax
				  credit acts and tax credits which are regulated specifically under Chapter 3.13
				  NMAC.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 1 - GENERAL PROVISIONS › Section 3.13.1.8 - CITATION OF STATUTES

Current through Register Vol. 35, No. 13, July 16, 2024
Unless otherwise stated, all citations to statutes in Chapter
				  3.13 NMAC are to the New Mexico Statutes Annotated 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 2 - INVESTMENT TAX CREDIT › Section 3.13.2.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all persons carrying on a manufacturing
				  operation in New Mexico and to any other person eligible to obtain the
				  investment tax credit.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 2 - INVESTMENT TAX CREDIT › Section 3.13.2.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
April 28, 2000, 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 13 - BUSINESS TAX CREDITS › Part 2 - INVESTMENT TAX CREDIT › Section 3.13.2.6 - 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 Investment Credit
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 2 - INVESTMENT TAX CREDIT › Section 3.13.2.7 - DEFINITIONS; "SUBJECT TO DEPRECIATION" DEFINED

Current through Register Vol. 35, No. 13, July 16, 2024
For purposes of Section
				  7-9A-3 NMSA 1978,
				  "subject to depreciation" means the taxpayer's federal income tax return must
				  include a depreciation expense with respect to equipment for which an
				  investment credit is sought or claimed. Equipment depreciated under the
				  accelerated cost recovery system, I.R.C. Section 168, and property for which
				  the taxpayer makes an election under Internal Revenue Code Section 179 are
				  "subject to depreciation"