{"id":1448,"date":"2020-10-21T16:18:36","date_gmt":"2020-10-21T22:18:36","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/?p=1448"},"modified":"2020-11-17T09:52:43","modified_gmt":"2020-11-17T16:52:43","slug":"railroad-car-company-tax","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2020\/10\/21\/railroad-car-company-tax\/","title":{"rendered":"Railroad Car Company Tax"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.6.6&#8243; _module_preset=&#8221;default&#8221;][et_pb_row _builder_version=&#8221;4.6.6&#8243; _module_preset=&#8221;default&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.6.6&#8243; _module_preset=&#8221;default&#8221;][et_pb_text _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p>The State imposes the Railroad Car Company Tax on the gross earnings of an organization as defined in Section 7-11-2C NMSA 1978 from the use or operation of railway cars within the state.\u00a0 \u201cOrganization\u201d excludes a railroad company operating its own or leased lines. This tax is imposed instead of property taxes on railway cars owned by that organization (<a href=\"http:\/\/www.nmonesource.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Section 7-11-3 NMSA 1978<\/a>).\u00a0The tax rate is 1\u00bd% of gross earnings of the organization.<\/p>\n<p>Every railroad company using or leasing the railway cars of any organization must withhold the tax when it pays the organization for the use or lease of the cars. The railroad company must pay the amount withheld in the previous year to the Department on or before March 1 each year. The organization is liable for any difference between the tax due for all of its cars and the sum of withheld taxes remitted by one or more railroad companies for the organization.<\/p>\n<p>We deposit the revenue in the Tax Administration Suspense Fund\u00a0and, after payment of refunds, the remaining revenue is distributed to the General Fund.<\/p>\n<h3>Railroad Car Company Tax Forms and Documents<\/h3>\n<p>[\/et_pb_text][et_pb_code _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<\/p>\n<div class=\"rf-table\" data-public=1 data-account-guid=\"34821a9573ca43e7b06dfad20f5183fd\" data-folder-id=\"2fc6d253-6aa8-439d-b06e-ce35153eae8e\" data-widget-id=\"7248ff1f-5672-40d0-8ec6-f45f88a6ab58\"><\/div>\n<p>[\/et_pb_code][et_pb_text _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p><a href=\"\/other-all-nm-taxes\">back to list<\/a><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The State imposes the Railroad Car Company Tax on the gross earnings of an organization as defined in Section 7-11-2C NMSA 1978 from the use or operation of railway cars within the state.\u00a0 \u201cOrganization\u201d excludes a railroad company operating its own or leased lines. This tax is imposed instead of property taxes on railway cars [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"960","footnotes":""},"categories":[23],"tags":[],"class_list":["post-1448","post","type-post","status-publish","format-standard","hentry","category-all-nm-taxes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Railroad Car Company Tax : All NM Taxes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2020\/10\/21\/railroad-car-company-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Railroad Car Company Tax : All NM Taxes\" \/>\n<meta property=\"og:description\" content=\"The State imposes the Railroad Car Company Tax on the gross earnings of an organization as defined in Section 7-11-2C NMSA 1978 from the use or operation of railway cars within the state.\u00a0 \u201cOrganization\u201d excludes a railroad company operating its own or leased lines. This tax is imposed instead of property taxes on railway cars [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2020\/10\/21\/railroad-car-company-tax\/\" \/>\n<meta property=\"og:site_name\" content=\"All NM Taxes\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nmtaxationandrevenue\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-21T22:18:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-17T16:52:43+00:00\" \/>\n<meta name=\"author\" content=\"admin@sks.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin@sks.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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