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 |
---|---|---|---|---|---|
N/A | 5.00% | 5.00% | 5.13% | 12.00% | 17.13% |
2025 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?
- Medical marijuana: Legal
- Medical Excise Tax: 0%
- Medical Sales Tax: 5.60%
- Recreational marijuana: Legal
- Recreational Excise Tax: 16%
- Recreational Sales Tax: 5.60%
- Medical marijuana: Legal
- Medical Excise Tax: 0%
- Medical Sales Tax: 2.90%
- Recreational marijuana: Legal
- Recreational Excise Tax: 15%
- Recreational Sales Tax: 15.00%
- Medical marijuana: Legal
- Medical Excise Tax: 7%
- Medical Sales Tax: 4.50%
- Recreational marijuana: Illegal
- Medical marijuana: Legal
- Medical Excise Tax: N/A
- Medical Sales Tax: 0.00%
- Recreational marijuana: Illegal
- Medical marijuana: Legal
- Medical Excise Tax: N/A
- Medical Sales Tax: 0.00%
- Recreational marijuana: Illegal
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.
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