New Mexico Administrative Code › Title 3 - TAXATION › Chapter 13 - BUSINESS TAX CREDITS › Part 21 - BIODIESEL BLENDING FACILITY TAX CREDIT › Section 3.13.21.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. "Annual cap"
				means the annual aggregate amount of the biodiesel blending facility tax credit
				available to taxpayers.
B.
				"Applicant" means a taxpayer that installs biodiesel blending equipment for the
				purpose of establishing or expanding a biodiesel blending facility and that
				desires to have the department issue a certificate of eligibility for a
				biodiesel blending facility tax credit.
C. "Application package" means the
				application documents an applicant submits to the department to receive a
				certificate of eligibility for a biodiesel blending facility tax
				credit.
D. "Biodiesel" means
				renewable, biodegradable, monoalkyl ester combustible liquid fuel that is
				derived from agricultural plant oils or animal fats and that meets the ASTM
				International D 6751 standard specification for biodiesel B100 blend stock for
				distillate fuels (Copyright ASTM International , 100 Barr Harbor Drive, West
				Conshohocken, PA 19428. This document is available for public viewing only at
				the New Mexico state records center and archives and may not be reproduced, in
				full or part. A copy of this publication may be obtained from ASTM
				International,
www.astm.org
.)
E. "Biodiesel blending equipment" means
				equipment necessary for the process of blending biodiesel with diesel fuel to
				produce blended biodiesel fuel.
F.
				"Biodiesel blending facility" means an installation that is part of a rack
				operation for the purpose of blending biodiesel fuel, including reactivating
				existing blending and storage equipment in place, expanding storage equipment
				at an existing facility, installing a new blending facility or site specific
				blending at a retail facility.
G.
				"Biodiesel blending facility tax credit" means the gross receipts or
				compensating tax credit the state of New Mexico issues to an applicant for a
				biodiesel blending facility.
H.
				"Blended biodiesel fuel" means a diesel fuel that contains at least two percent
				biodiesel.
I. "Bulk storage" means
				the storage of special fuels in any tank or receptacle, other than a supply
				tank, for the purpose of sale by a dealer or for use by a user or for any other
				purpose.
J. "Bulk storage user"
				means a user who operates, owns or maintains bulk storage in this state from
				which the user places special fuel into the supply tanks of motor vehicles that
				the user owns or operates.
K.
				"Certificate of eligibility" means the document, with a unique identifying
				number that specifies the amount and taxable year for the approved biodiesel
				blending facility tax credit.
L.
				"Dealer" means any person who sells and delivers special fuel to a
				user.
M. "Department" means the
				energy, minerals and natural resources department.
N. "Diesel fuel" means any diesel-engine fuel
				used for the generation of power to propel a motor vehicle.
O. "Installation of equipment" means to
				assemble and construct biodiesel blending equipment, including equipment
				necessary for receiving and off-loading B100 or pre-blended biodiesel,
				equipment for storage of B100 or blended biodiesel fuel and equipment for
				on-loading and dispensing B100 or blended biodiesel fuel.
P. "Motor vehicle" means a self-propelled
				vehicle or device that is either subject to registration pursuant to NMSA 1978
				Section
				66-3-1
				or is used or may be used on the public highways in whole or in part for the
				purpose of transporting persons or property and includes any connected trailer
				or semitrailer.
Q. Rack operations"
				means a facility that is a refinery in this state, any facility where special
				fuel is blended in this state or where special fuel is stored at a pipeline
				terminal in this state.
R. "Rack
				operator" means the operator of a refinery in this state, any person who blends
				special fuel in this state or the owner of special fuel stored at a pipeline
				terminal in this state.
S. "Supply
				tank" means any tank or other receptacle in which or by which fuel may be
				carried and supplied to the fuel-furnishing device or apparatus of the
				propulsion mechanism of a motor vehicle when the tank or receptacle either
				contains special fuel or special fuel is delivered into it.
T. "Taxable year" means the annual accounting
				period for purposes of filing corporate income taxes, as defined by the Unites
				States internal revenue service.
U.
				"Taxpayer" means a rack operator who owns the rack operation where the rack
				operator installs biodiesel blending equipment and who applies for
				certification of an operating biodiesel blending facility in order to receive a
				biodiesel blending facility tax credit and is liable for payment of gross
				receipts or compensating taxes.
V.
				"Taxpayer identification number" means an 11-digit number the New Mexico
				taxation and revenue department issues that indicates that the taxpayer is
				registered with the taxation and revenue department to pay gross receipts and
				compensating taxes.