A. For the privilege of distributing alternative fuel in this state, there is imposed an excise tax at a rate provided in Subsection C of this section on each gallon of alternative fuel distributed in New Mexico.
B. The tax imposed by this section may be called the "alternative fuel excise tax".
C. For each gallon of alternative fuel distributed in New Mexico, the tax imposed by Subsection A of this section shall be:
(1) for the period beginning January 1, 1996 and ending December 31, 1997, three cents ($0.03) per gallon;
(2) for the period beginning January 1, 1998 and ending December 31, 1999, six cents ($0.06) per gallon;
(3) for the period beginning January 1, 2000 and ending December 31, 2001, nine cents ($0.09) per gallon;
(4) for the period beginning January 1, 2002 and ending June 30, 2014, twelve cents ($0.12) per gallon; and
(5) for the period beginning July 1, 2014 and thereafter:
(a) for alternative fuel that is compressed natural gas, thirteen and three-tenths cents ($.133) per gallon;
(b) for alternative fuel that is liquefied natural gas, twenty and six-tenths cents ($.206) per gallon; and
(c) for alternative fuel not described in Subparagraph (a) or (b) of this paragraph, twelve cents ($.12) per gallon.
D. Alternative fuel purchased for distribution shall not be subject to the alternative fuel excise tax at the time of purchase or acquisition, but the tax shall be due on any alternative fuel at the time it is dispensed or delivered into the supply tank of a motor vehicle that is operated on the highways of this state.
History: Laws 1995, ch. 16, § 4; 2014, ch. 34, § 3.
The 2014 amendment, effective July 1, 2014, added tax rates for the period beginning July 1, 2014; eliminated the option to pay the alternative fuel excise tax on an annual basis; in Subsection C, in Paragraph (4), after "January 1, 2002 and", deleted "thereafter" and added "ending June 30, 2014", in Subsection C, added Paragraph (5); deleted former Subsection D, which gave taxpayers the option of paying the excise tax on an annual basis; and deleted former Subsection E, which provided that the annual excise tax could be prorated for periods of less than one year if approved by the secretary of taxation and revenue.
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