A nonresident who acquires a vehicle in New Mexico and takes it to his or her state of residence to be titled does not owe New Mexico motor vehicle excise tax on the acquisition of that vehicle.
Motor Vehicle Excise Tax
If a person acquires a vehicle outside New Mexico and brings it into this state when he or she establishes New Mexico residency, is that vehicle subject to New Mexico motor vehicle excise tax?
A person who acquires a vehicle outside New Mexico 30 or more days before establishing residency in this state is exempt from New Mexico motor vehicle excise tax if the vehicle was acquired for personal use.
Is a rebate, offered for the purchase of a vehicle, included in the price paid for the vehicle for purposes of calculating the motor vehicle excise tax on the sales price?
Yes. Though a rebate reduces the actual amount paid by the buyer, it does not reduce the total price paid for a vehicle. By law, motor vehicle excise tax is derived from the price paid for the vehicle regardless of any rebates that subsequently reduce the amount the...
If a vehicle rental business buys a vehicle to lease or sell, is its acquisition of that vehicle subject to New Mexico motor vehicle excise tax?
Such an acquisition of a vehicle is exempt from motor vehicle excise tax if: The business does not use the vehicle in any way other than holding it for lease or sale, or for leasing or selling it in the ordinary course of business; The lease of the vehicle is for a...