{"id":1900,"date":"2020-10-23T10:18:03","date_gmt":"2020-10-23T16:18:03","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/businesses\/?p=1900"},"modified":"2026-04-11T13:12:48","modified_gmt":"2026-04-11T19:12:48","slug":"leased-vehicle-gross-receipts-tax","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/businesses\/2020\/10\/23\/leased-vehicle-gross-receipts-tax\/","title":{"rendered":"Leased Vehicle Gross Receipts Tax"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<p>The leased vehicle gross receipts tax applies to persons engaging in business who have receipts from the short-term leasing of vehicles <strong>(<a href=\"http:\/\/www.nmonesource.com\/\" target=\"_blank\" rel=\"noopener\">Section 7-14A-3 NMSA 1978<\/a><\/strong>):<\/p>\n<ul>\n<li>The lease is for a term of six months or less;<\/li>\n<li>The vehicle is part of a fleet of five or more leased vehicles;<\/li>\n<li>The vehicle is a passenger automobile that will accommodate six or fewer adults, and<\/li>\n<li>The lessor acquired the vehicle on or after July 1, 1991.<\/li>\n<\/ul>\n<p>The leased vehicle gross receipts tax is imposed at a rate of 5% on the receipts from leasing vehicles. The receipts are reported on the Leased Vehicle Gross Receipts Tax and Surcharge return, which can be found in the Business Taxes folder on the Forms and Publications page. The tax is due on or before the 25th day of the month following the month in which the taxable event occurs.<\/p>\n<p>The revenue from this tax is distributed\u00a0one-fourth to the Local Governments\u2019 Road Fund and three-fourths to the Highway Infrastructure Fund.<\/p>\n<h3>Links<\/h3>\n<p><strong><a href=\"https:\/\/realfile.tax.newmexico.gov\/FYI-225.pdf\" target=\"_blank\" rel=\"noopener\">FYI-225: Short-Term Leased Vehicles<\/a><\/strong><\/p>\n<p><strong><a href=\"https:\/\/klvg4oyd4j.execute-api.us-west-2.amazonaws.com\/prod\/PublicFiles\/34821a9573ca43e7b06dfad20f5183fd\/d7ec3a2a-6309-42bc-8cb1-9b169a016573\/trd-41408.pdf\" target=\"_blank\" rel=\"noopener\">Leased Vehicle Gross Receipts Tax and Surcharge Return<\/a><\/strong><\/p>\n<p><strong><a href=\"https:\/\/tap.state.nm.us\/Tap\/_\/\" target=\"_blank\" rel=\"noopener\">Online Services<\/a><\/strong><\/p>\n<p><strong><a href=\"https:\/\/realfile.tax.newmexico.gov\/FYI-102.pdf\" target=\"_blank\" rel=\"noopener\">FYI-102: Information for New Businesses<\/a><\/strong><\/p>\n<p><strong><a href=\"https:\/\/realfile.tax.newmexico.gov\/FYI-105.pdf\" target=\"_blank\" rel=\"noopener\">FYI-105: Gross Receipts and Compensating Taxes: An Overview<\/a><\/strong><\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p><strong><a href=\"\/businesses\/other-all-nm-taxes\/\">back to list<\/a><\/strong><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","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-1900","post","type-post","status-publish","format-standard","hentry","category-all-nm-taxes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Leased Vehicle Gross Receipts Tax : Businesses<\/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\/businesses\/2020\/10\/23\/leased-vehicle-gross-receipts-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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