New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 109 - EXEMPTION - GROSS RECEIPTS TAX - VEHICLES
Section 3.2.109.8 - MOTOR VEHICLE EXCISE TAX
Current through Register Vol. 35, No. 18, September 24, 2024
A. The receipts from the sale of a vehicle of a type excepted from registration under Section 66-3-1 NMSA 1978 are not subject to any taxes imposed upon the issuance of a certificate of title under the Motor Vehicle Excise Tax Act and are therefore subject to gross receipts tax.
B. Example: The receipts from the sale of a logging truck used off the highway except for the purpose of crossing the highway from one property to another, are subject to gross receipts tax because there is no tax imposed upon the issuance of a certificate of title for that vehicle under the Motor Vehicle Excise Tax Act since it is exempted from registration in this state under Section 66-3-l NMSA 1978.
