New Mexico Sales Tax on Leases and Rentals New Mexico: Sales Tax Handbook

New Mexico:

Are Leases and Rentals subject to sales tax?

While New Mexico's sales tax generally applies to most transactions, certain items have special treatment in many states when it comes to sales taxes. This page describes the taxability of leases and rentals in New Mexico, including motor vehicles and tangible media property. To learn more, see a full list of taxable and tax-exempt items in New Mexico.


Motor Vehicles
TAXABLE
In the state of New Mexico, they will be subject to an additional leased vehicle gross receipts tax and an additional surcharge.

Tangible Media Property
TAXABLE
Sales of tangible media property are subject to sales tax in New Mexico.



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Source: http://www.salestaxhandbook.com/new-mexico/sales-tax-taxability/leases-and-rentals