Leased Vehicle Gross Receipts Tax
The leased vehicle gross receipts tax applies to persons engaging in business who have receipts from the short-term leasing of vehicles (Section 7-14A-3 NMSA 1978):
- The lease is for a term of six months or less;
- The vehicle is part of a fleet of five or more leased vehicles;
- The vehicle is a passenger automobile that will accommodate six or fewer adults, and
- The lessor acquired the vehicle on or after July 1, 1991.
The leased vehicle gross receipts tax is imposed at a rate of 5% on the receipts from leasing vehicles. The receipts are reported on a CRS-1 Form. The tax is due on or before the 25th day of the month following the month in which the taxable event occurs.
The revenue from this tax is distributed one-fourth to the Local Governments’ Road Fund and three-fourths to the Highway Infrastructure Fund.
Contact Information
Links
Gross Receipts Tax Forms and Documents
General Fund revenue to increase by 2.8% for FY26
New collection letters provide options for taxpayers
New Mexico to join IRS Direct File program for federal taxes
Gov. Lujan Grisham reminds New Mexicans about Tax-Free Weekend
Tax and Rev again expands disaster filing extensions
MVD checks for drug, alcohol violations on commercial licenses
Be wary of unclaimed property solicitations
ACH payments now available for Corporate Income Tax
Tax and Rev expands disaster filing extensions
Ruidoso MVD to reopen in temporary space
Smokey Bear Fire Prevention plates now available from MVD
Tax & Rev recognized for oil and gas compliance tool
Some taxpayers receive incorrect penalty, interest letters
Department schedules hearing on property tax exemption rules
Tax and Rev issues guidance on Hermit’s Peak tax credit
MVD expands self-service kiosk program
MVD to launch new self-service kiosks
Taxation and Revenue urges taxpayer caution
MVD celebrates Donate Life Month
Tax filing deadline less than a month away
Governor signs tax bill that will save New Mexicans $231 million
New Mexico’s standard turquoise license plate judged No. 1 in the U.S.
New Child Income Tax Credit available to taxpayers for the first time
Embezzlement defendant accepts plea agreement
Motor Vehicle Division proposes digital driver’s licenses
Report: New Mexico in top tier for tax administration
Department finalizes new Gross Receipts Tax regulations
General Fund revenues expected to continue growth
More than $6 million in 2022 rebates available in unclaimed property
State re-issues proposal for Los Alamos site to consolidate offices
Taxation & Revenue Releases 2023 Tax Expenditure Report
Tax and Rev brings cannabis businesses into tax compliance
MVD adds flexibility to appointment system
Taxation and Revenue urges taxpayer caution
Department schedules hearings for new regulations
Credit card fees to increase for some MVD transactions
New scam targets property owners with delinquent tax notice
State agencies looking for Los Alamos site to consolidate offices
Property tax auctions scheduled in three counties
Codes no longer required for some Gross Receipts Tax deductions
Gov. Lujan Grisham reminds New Mexicans about the upcoming Tax-Free Weekend
Secretary Stephanie Schardin Clarke elected to chair MTC
MVD lifts suspensions for failure to pay or appear in court
State portion of Gross Receipts Tax drops to 4.875%
New Gross Receipts Tax Filer’s Kit available
Santiago Chavez to lead Audit and Compliance Division
Governor announces $500 rebates to go out in mid-June
Tax returns for 2022 are due Tuesday
Governor Lujan Grisham approves $500 rebates
Taxation and Revenue announces leadership appointments
Taxation and Revenue Secretary Stephanie Schardin Clarke confirmed for second term
NM rebates not subject to federal taxation, IRS says
New Mexico awaiting guidance from IRS on 2022 rebates
Department clarifies instructions for pass-through entities
Taxation and Revenue adds fraud-fighting tools
Governor announces plan to deliver economic relief to New Mexicans
Tax filing season opens Monday, January 23
Taxation and Revenue audit findings continue to improve
Income tax rebates were top tax expenditures in 2022
Taxation and Revenue Department budget takes aim at improving service to constituents
New paper Gross Receipts Tax Filer’s Kits available on request
General Fund revenues expected to remain strong
Real ID deadline extended again
$10 million in financial assistance funds for New Mexico low income households
New publication provides tax guidance on lodging, vacation rentals
Applications for economic relief payments open Monday, September 26
Owners can now reclaim unclaimed property online
Department publishes proposed regulations for digital advertising
Updated law ensures parity for all New Mexican owned businesses
New Mexico taxpayers in disaster areas gain more time to file taxes
Incorrect Gross Receipts Tax rate published for Gallup
Taxation and Revenue Department adds more fairness to New Mexico’s tax system, expediting the ‘innocent spouse tax relief’ application process
Final round of household relief approved by Gov. Michelle Lujan Grisham goes to taxpayers this week
Back-to-School tax holiday is this weekend
Business reminder: First Gross Receipts Tax cut in 40 years now in effect
Second round of rebates underway
Gov. Lujan Grisham exempts Social Security income from taxes, delivers first Gross Receipts Tax reduction in 40 years
Taxation and Revenue wins national award for Gross Receipts Tax technology
Department publishes electronic filing and payment mandates
First month of cannabis sales generate $2.4 million in Excise Tax
New Mexicans in disaster areas have until August 31 to file taxes
State, pueblos enter cooperative agreements on cannabis
Governor: Financial relief heading to New Mexicans this week
San Miguel County property tax deadline extended
First Cannabis Excise Tax payments due this month
Mora County property tax deadline extended
Applications for economic relief payments for non-filers open May 2
Income tax returns due Monday
MVD celebrates Donate Life Month
Department publishes draft rules on electronic filing, payments
New Mexico vehicle titles can now be transferred online
Department issues $248 million in refunds, prepares to issue rebates
Taxpayers to receive rebates in July
MVD Direct self-service kiosk now available on Albuquerque’s West Side
Albuquerque dentist agrees to plea deal on tax fraud charges
New entry-level commercial driver’s license regulations
Automated tools now available for reporting GRT
Tax season is open
Vendor reissuing some driver’s licenses
Former employee pleads guilty to fraud, identity theft, money laundering
MVD opens new self-service kiosk
Portal update allows taxpayers to make more account changes
Secretary Stephanie Schardin Clarke named to FTA Board
Tax Expenditure Report details cost of credits, deductions
Small Business Saturday is November 27
Tax Workshops open for registration
MVD to keep appointment model, expanded online services
Reminder: GRT, Compensating Tax subject to destination sourcing
Tax Workshops open for registration
Department launches new public records portal
Taxation and Revenue Department takes aim at vacancies
Tax Practitioner Advisory Committee meets Sept. 9
State secures agreement on resolving 2018 local government lawsuit - Plaintiffs would share $50 million in Gross Receipts Tax distributions case
MVD upgrades self-service portal - MyMVD Online Services will be unavailable Sept. 3-5
MVD releases new practice driving test
Hearing scheduled on draft regulations for Gross Receipts Tax on services
Back-to-School tax holiday is this weekend
Vehicle titles to be issued by mail
MVD warns New Mexicans against scam
Updated publication provides guidance on Gross Receipts Tax changes
New Gross Receipts Tax rules take effect July 1
MVD ends automatic issuance of temporary license extensions
Department issues filing instructions for business tax transition
Applications open June 14 for $5 Million in economic relief
Taxation and Revenue offices reopen for tax appointments on June 1
Tax Practitioner Advisory Committee to meet June 3
Tax Policy Advisory Committee to meet May 13
Road tests allowed only in counties designated ‘Green’ or ‘Turquoise’
MVD celebrates National Donate Life Month
Payment deadlines approaching for 2020 tax relief
Department begins issuing special $600 rebates
Appointments available at MVD due to expanded capacity
Personal Income Tax deadline extended until May 17
Former Department employee indicted on federal charges
Department issues guidance on $600 rebates, restaurant GRT relief
Draft forms, instructions for GRT and other business taxes now available
Tips for Taxpayers
Guidance on $600 Income Tax Rebates
MVD launches new appointment system, expands in-person operations
Alamogordo man charged with embezzlement, tax fraud
Department begins issuing 2020 income tax refunds
Attorney General, Taxation and Revenue urge taxpayers to be cautious
Changes Coming to Combined Reporting System
Modified enforcement extended through August
Back-to-School Tax Holiday is this weekend
July new business workshop to be presented online
New multi-year tax forms available
Hearing scheduled on new rules for New Mexico driver’s licenses
Tax Policy Advisory Committee meets Wednesday
Delivered groceries may not be taxable
TRD Audit and Compliance Division to start outbound calling
Online Services
Find an Online Service to Serve Your Needs
1200 South St. Francis Drive
Santa Fe, NM 87505
1-866-285-2996
Manage Cookie Consent
This site uses cookies to collect site usage data and provide social media services. If you choose to contact us via our contact form, the information you enter will be kept unless you request it to be discarded.
Functional Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
