[et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” custom_margin=”0px||||false|false” custom_padding=”0px||0px|||” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ _module_preset=”default” use_background_color_gradient=”on” background_color_gradient_stops=”#ffffff 0%|#dedede 100%” background_color_gradient_start=”#ffffff” background_color_gradient_end=”#dedede ” width_tablet=”” width_phone=”” width_last_edited=”on|tablet” custom_margin=”0px||||false|false” custom_padding=”4px||4px||true|false” background_color_gradient_stops_tablet=”#ffffff 0%|#dedede 100%” background_color_gradient_stops_phone=”#ffffff 0%|#dedede 100%” border_width_all=”1px” border_color_all=”#c9c9c9″ global_module=”210″ saved_tabs=”all” locked=”off” collapsed=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_dmb_breadcrumbs font_icon=”5||divi||400″ home_icon=”||divi||400″ use_home_text=”on” home_text=”Businesses” _builder_version=”4.16″ _module_preset=”default” body_text_color=”#282728″ separator_text_color=”#282728″ link_text_color=”#000000″ custom_padding=”0px||0px|15px|false|false” global_colors_info=”{}”][\/et_pb_dmb_breadcrumbs][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ specialty=”on” _builder_version=”4.16″ _module_preset=”c15d8663-17d8-453a-bfd0-2280d44320fa” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_blurb title=”Explore Section & Events” use_icon=”on” font_icon=”||divi||400″ _builder_version=”4.16″ _module_preset=”7b5e95ba-231a-438c-8dd9-6676746c29e6″ global_colors_info=”{}”][\/et_pb_blurb][et_pb_sidebar area=”et_pb_widget_area_1″ _builder_version=”4.7.7″ _module_preset=”50d7f88b-470d-49c8-b370-96c4a9bca4df” custom_margin_tablet=”10px||||false|true” custom_margin_phone=”” custom_margin_last_edited=”on|desktop” custom_padding=”0px|4%|20px|4%|false|true” global_module=”450″ saved_tabs=”all” locked=”off” global_colors_info=”{}”][\/et_pb_sidebar][\/et_pb_column][et_pb_column type=”3_4″ specialty_columns=”3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_row_inner _builder_version=”4.16″ _module_preset=”default” background_color=”#ffffff” custom_padding=”0px|20px||20px|false|false” global_colors_info=”{}”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_post_title meta=”off” _builder_version=”4.16″ _module_preset=”default” title_font=”|300|||||||” title_font_size=”50px” title_letter_spacing=”-3px” locked=”on” global_colors_info=”{}”][\/et_pb_post_title][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
Cannabis excise tax is paid by a cannabis retailer<\/strong> that sells products in New Mexico. A cannabis retailer is a person whose license from the Cannabis Control Division of the Regulations and Licensing Department (RLD)<\/strong><\/a> allows the license holder to sell cannabis products to a person who purchases, acquires, possesses or uses the cannabis product for a purpose other than resale.<\/p>\n The Taxation and Revenue Department (Tax & Rev) is committed to offering cannabis retailers the support needed to comply with their cannabis excise tax account (CAN) and gross receipts tax (GRT) obligations. Formal guidance on the cannabis excise tax is available in FYI 260: Information for the Cannabis Industry<\/strong><\/a>, which is located in the \u201cPublications\u201d folder of the Forms & Publications<\/strong><\/a> page.<\/p>\n Wholesalers, manufacturers, and producers<\/strong> are not required to register for the CAN if they do not fit the definition of a cannabis retailer. Medical cannabis<\/strong> sales are not subject to the CAN. These businesses do need to register for any other business taxes program that applies to them.<\/p>\n GRT<\/strong>, all sales in New Mexico are subject to the GRT, unless a deduction or exemption exists. For more information see the GRT page<\/strong><\/a>. A few deductions that may apply for the cannabis industry for the GRT include:<\/p>\n First apply for a license<\/strong> with the RLD<\/strong><\/a>.<\/p>\n Next register with Tax & Rev<\/strong> for a cannabis excise tax account (CAN). Online registration is offered through the Taxpayer Access Point (TAP) https:\/\/tap.state.nm.us\/Tap\/<\/strong><\/a>. Tutorials on registering using TAP are available on the Department\u2019s YouTube channel @newmexicotaxationrevenue8012<\/strong><\/a>.<\/p>\n Businesses already registered for GRT may use their existing accounts to pay GRT on adult-use cannabis sales, but they must register for a CAN account.<\/p>\n For more information on registering a business see Who must register a business?<\/strong><\/a> page.<\/p>\n Use the Gross Receipts Location Code and Tax Rate Map<\/strong><\/a> to determine the correct location to use based on where the product is given to the customer. If at your retail location, use your retail location. If delivered, use the location of the delivery.<\/p>\n The rate of the cannabis excise tax shall be at the following rates and shall be applied to the price paid<\/strong> for a cannabis product:<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” text_text_color=”#24A7A9″ header_text_color=”#24A7A9″ hover_enabled=”0″ locked=”off” global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n [\/et_pb_text][et_pb_accordion admin_label=”Q&A Accordion” _builder_version=”4.27.4″ _module_preset=”default” locked=”off” global_colors_info=”%91%93″][et_pb_accordion_item title=”Are the rates different in each location like they are with GRT?” open=”on” closed_toggle_text_color=”#282728″ closed_toggle_background_color=”#DEDEDE” icon_color=”#282728″ _builder_version=”4.27.4″ _module_preset=”86c81c98-3e30-450d-9259-883617c5a3ec” border_width_all=”2px” border_color_all=”#1C8182″ global_colors_info=”{}”]<\/p>\n No, the rate is the same throughout the state, but businesses must report by location so that localities can receive their share of the tax. For example, if the retail cannabis business is located in the City of Albuquerque, it will report the cannabis excise tax using the City of Albuquerque location code so that Tax & Rev is directed to distribute the local share of the cannabis excise tax revenue as required to that city.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”How often do I have to file and pay?” closed_toggle_text_color=”#282728″ closed_toggle_background_color=”#DEDEDE” icon_color=”#282728″ _builder_version=”4.27.4″ _module_preset=”86c81c98-3e30-450d-9259-883617c5a3ec” border_width_all=”2px” border_color_all=”#1C8182″ global_colors_info=”%91%93″ open=”off”]<\/p>\n The cannabis excise tax must be filed and paid monthly by the 25th<\/sup> of the month following the sale of the product. So, for example, the tax on sales made in the month of April must be filed and paid by May 25. Late returns and payments are subject to penalty and interest. See the form and instructions for this tax for more information.<\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”How do I file and pay? ” closed_toggle_text_color=”#282728″ closed_toggle_background_color=”#DEDEDE” icon_color=”#282728″ _builder_version=”4.27.4″ _module_preset=”86c81c98-3e30-450d-9259-883617c5a3ec” border_width_all=”2px” border_color_all=”#1C8182″ global_colors_info=”{}” open=”off”]<\/p>\n Returns must be filed electronically through Tax and Rev\u2019s Taxpayer Access Point (TAP) self-service portal.<\/p>\n Taxpayers are required to pay electronically and can use ACH debit (e-checks<\/strong>) or a credit card<\/strong> to make payments. Credit card payments are subject to a 2.4% convenience fee.<\/p>\n We cannot accept<\/strong> Fedwire and ACH Credit payments for cannabis excise tax or the gross receipts tax on cannabis retail sales.<\/p>\n Anyone needing to pay with a paper check or cash must have an approved waiver or exception from the electronic payment mandate. Waiver forms<\/strong> are available in the \u201cE-File and E-Pay Exceptions\u201d folder at the bottom of this page.<\/p>\n [\/et_pb_accordion_item][\/et_pb_accordion][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” text_text_color=”#24A7A9″ header_text_color=”#24A7A9″ hover_enabled=”0″ locked=”off” global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Note: Your browser may ask you to allow pop-ups from this website. Allow the pop-ups and double-click the form again. For the best user experience on this website, you should update your browser\u00a0(<\/strong><\/em>Internet Explorer<\/em><\/strong><\/a>,<\/em><\/strong>Chrome<\/em><\/strong><\/a>,<\/em><\/strong>Firefox<\/em><\/strong><\/a>or<\/em>Safari<\/em><\/strong><\/a>)<\/em><\/strong><\/p>\n [\/et_pb_text][et_pb_code _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_code][et_pb_code _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_code][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" What is cannabis excise tax? Cannabis excise tax is paid by a cannabis retailer that sells products in New Mexico. A cannabis retailer is a person whose license from the Cannabis Control Division of the Regulations and Licensing Department (RLD) allows the license holder to sell cannabis products to a person who purchases, acquires, possesses […]<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-9137","page","type-page","status-publish","hentry"],"yoast_head":"\nGross receipts tax<\/strong><\/h3>\n
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Registration<\/strong><\/h3>\n
Determining Location Code and Rate<\/strong><\/h3>\n
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FREQUENTLY ASKED QUESTIONS ABOUT
CANNABIS EXCISE TAX<\/strong><\/span><\/h1>\nFORMS AND PUBLICATIONS<\/strong><\/span><\/h1>\n
Directions<\/strong><\/h3>\n
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