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

To contact the Department


RPD-41146, Motor Vehicle Excise (MVET) and Leased Vehicle Gross Receipts Tax (LVGRT)
FYI-225: Short-Term Leased Vehicles
Who Must Register?
FYI-102: Information for New Businesses
FYI-105: Gross Receipts and Compensating Taxes: An Overview

Gross Receipts Tax Forms and Documents