New Mexico: Marijuana Tax Handbook

New Mexico:

New Mexico Marijuana Tax Rate

Sales Tax Medical Excise Tax Medical Max Medical Tax Sales Tax Recreational Excise Tax Recreational Max Recreational Tax
N/A 5.00% 5.00% 5.13% 12.00% 17.13%

2024 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.

For more information about New Mexico Marijuana Taxes, visit the New Mexico Marijuana Tax page.

Extra Resources

** This Document Provided By SalesTaxHandbook **