New Mexico: Marijuana Tax Handbook
New Mexico Marijuana Tax Rate
|Sales Tax Medical||Excise Tax Medical||Max Medical Tax||Sales Tax Recreational||Excise Tax Recreational||Max Recreational Tax|
2021 New Mexico Marijuana Tax Handbook
Medical marijuana legal in New Mexico, but there is no cannabis sales tax for it.
New Mexico consumers are required to pay a 5.13% sales tax on every purchase of marijuana for personal use. There is also an additional excise tax of 12% on every purchase of marijuana for personal use.
About New Mexico Marijuana Tax
Gross receipts tax deductions are allowed for for medical cannabis. The sales tax was 5%- 9%, but with the legalization of recreational marijuana, medical marijuana will no longer be taxed.
As of July 1, 2020 excise tax for recreational marijuana in New Mexico is 12%. As of July 1, 2025 the excise will increase to 13%. This trend will continue until the excise tax reaches 18 percent in 2030.
Is the New Mexico Marijuana Tax Weight-Based or Percentage-of-price-Based?
New Mexico's marijuana program uses a Percentage-of-price tax system. This means that the tax charged is calculated using the retail price of the Marijuana at the time of purchase.
Does New Mexico have a Controlled Substances Tax?
New Mexico does not have a Controlled Substances tax involving Marijuana.
How do New Mexico's marijuana taxes compare to the states around it?
Note: It is illegal to transport marijuana accross state lines.