Boat Excise Tax 
The state imposes the Boat Excise Tax at 5% upon the sale of every boat required to be registered in the state. A boat requiring registration is any powerboat or sailboat (other than a sailboard or windsurf board) that is 10 feet in length or more. The basis for the tax is the price at the time of sale less any trade-in credit.

 

If a boat is legitimately transferred by gift, there is no sale, and no excise tax is due. Any applicant for a boat title who claims that the boat was a gift must submit a notarized Affidavit of Gift of Motor Vehicle or Boat (MVD-10018) in which both donor and recipient affirm under oath and under penalty of perjury that the vehicle or boat was in fact transferred as a gift.

 

This tax applies to all boats purchased or brought into New Mexico except those owned by:

  • Persons domiciled outside this state while on active duty in the military service of the United States or on active duty as officers of the Public Health Service who are detailed for duty with any branch of the military service;
  • Persons who acquire a boat out of state 30 or more days before establishing a domicile in this state if the boat was acquired for personal use;
  • Persons applying for a certificate of title for a boat registered in another state if they have previously registered and titled the boat in New Mexico and have owned the boat continuously since that time, and
  • The State of New Mexico or any of its political subdivisions.

 

A boat with a Certificate of Ownership issued by the United States Coast Guard need not be registered or titled in New Mexico and is exempt from the boat excise tax.

 

Pay the Boat Excise Tax through the New Mexico Motor Vehicle Division when you apply for boat title. You must pay the tax within 30 days of taking ownership of the boat.

 

We deposit the tax with the state treasurer for credit to the Boat Suspense Fund. At the end of each month, 50% is transferred to the State Parks Division of the Energy, Minerals and Natural Resources Department. The balance goes to the General Fund. 

Contact Information 

To Contact the Department

Links

New Mexico MVD Instructions for Vehicle Titles
New Mexico Application for Vessel Title and Registration
Affidavit of Gift of Motor Vehicle or Boat
Statutory Reference: Look for Section 66-12-6.1 NMSA 1978 in the New Mexico State Statutes.
  • Message from the Secretary
    Thank you again for making the 2012 tax-filing season a success. Largely because of your efforts, we were able to process nearly $260 million in personal income tax refunds in a timely and efficient fashion with very few errors. Read More     ​

E-File for accurate returns and faster refunds.
Federal automatic extensions also extend New Mexico income tax returns.
E-File and E-Pay and extend your income tax due date.
Get your refund faster when you E-File.
Low-income residents may qualify for income tax credits.
You may qualify for the Working Family Income Tax Credit.
You may qualify for the Earned Income Tax credits.
Estimated tax payments may be required if you withhold too little.
Manage your account online using Taxpayer Access Point.
Business closed? Update your CRS account online.
Gross receipts tax rates are subject to change in January and July.
NTTCs may be required to support tax-deductible sales.
Changing your address? Update your tax records online.
View payments and returns using Taxpayer Access Point.
Keep up with recent tax changes. See the instructions.
Keep accurate tax records for up to 10 years.
Double-check your figures. Errors will delay your return.
Get your money faster using refund express direct deposit.
Pay online by electronic check or credit card.
Avoid delays, submit a complete return.
Tax Fraud in New Mexico, call 1-800-457-6789.
Check the status of your refund, visit Taxpayer Access Point.
Pay your property taxes to your county treasurer.
Delinquent property taxes? See your local county treasurer’s office.
Find out who is managing your county government.
Property tax auctions are often held at the county treasurer’s office.
April property tax valuation determines your November tax bill.
Property taxes pay for schools, police, and hospitals.
Property was sold at auction? We may have your money.
Stop penalty and interest by paying your principal tax quickly.
Make sure you use correct tax ID numbers.
Refund express? Double-check your bank account and routing numbers.
Include your phone number and e-mail address when filing.
Secure your tax records from identity theft.
Generally, both spouses are responsible for liability on a joint return.
Sign and date your return.
Avoid preparers who base their fee on a percentage of the refund.
Tax fraud is the responsibility of the taxpayer
Visit Website