The Combined Fuel Tax (CFT) Distribution Report is produced on a monthly basis that provides municipalities and counties with a source breakdown of the combined fuel tax distributed to local governments.
Below are descriptions of the fuel taxes that are included in the combined fuel tax reporting.
The gasoline tax is an excise tax imposed on distributors of gasoline for the privilege of receiving gasoline in New Mexico (Section 7-13-1 NMSA 1978). The gasoline tax rate is $0.17 per gallon and is reported monthly by the 25th day of the month following the month in which gasoline is received.
Special Fuels Tax
The special fuels supplier tax is an excise tax on suppliers for the privilege of receiving special fuel in New Mexico (Section 7-16A-3 NMSA 1978). Special fuel is defined as any diesel-engine fuel or kerosene used for the generation of power to propel a motor vehicle. There are exceptions listed in the statutes.
The tax applies to the gallons of special fuel received in New Mexico. The tax is owed either by the rack operator, if sold to a non-registered customer, or by the registered New Mexico supplier buying the special fuel. There are some deductions that apply to this tax.
The rate is $0.21 per gallon, plus an additional petroleum products loading fee. This tax is due monthly by the 25th day of the month following the month in which special fuel is received.
Petroleum Products Loading Fee
The petroleum products loading fee (Section 7-13A-1 NMSA 1978) is imposed for the privilege of loading gasoline or special fuel from a rack at a refinery or a pipeline terminal in the state into a cargo tank, or for importing gasoline or special fuel for resale or consumption.
This fee is charged per load of 8,000 gallons of gasoline or special fuel. The rate is $150 per load, or whichever of the following applies: