NMSA 7-12A-3. Imposition and rates of tax; reduction of rate for certain
AI-assisted research summary: This section imposes excise taxes on tobacco products, with different rates for tobacco products, cigars, little cigars, e-liquid, and certain closed system cartridges, and requires the first purchaser to pay the tax by the 25th day of the following month.
7-12A-3. Imposition and rates of tax; reduction of rate for certain tobacco products; denomination as "tobacco products tax"; date payment of tax due. A. For the manufacture or acquisition of tobacco products in New Mexico, not including cigars, little cigars, e-liquid, e-cigarettes or closed system cartridges, to be distributed in the ordinary course of business and for the consumption of tobacco products in New Mexico, there is imposed an excise tax at the rate of twenty-five percent of the product value of the tobacco products. B. For the manufacture or acquisition of cigars in New Mexico to be distributed in the ordinary course of business and for the consumption of cigars in New Mexico, there is imposed an excise tax at a rate equal to twenty-five percent of the product value of the cigar, not to exceed fifty cents ($.50) per cigar. C. For the manufacture or acquisition of little cigars in New Mexico to be distributed in the ordinary course of business and for the consumption of little cigars in New Mexico, there is imposed an excise tax at a rate equal to the rate imposed on cigarettes pursuant to Section 7-12-3 NMSA 1978 per package of little cigars. D. For the manufacture or acquisition of e-liquid or closed system cartridges containing more than five milliliters of e-liquid in New Mexico to be distributed in the ordinary course of business and for the consumption of e-liquid in New Mexico, there is imposed an excise tax at a rate equal to twelve and one-half percent of the product value of the e-liquid. E. For the manufacture or acquisition of closed system cartridges containing five milliliters or less of e-liquid in New Mexico to be distributed in the ordinary course of business, there is imposed an excise tax at a rate of fifty cents ($.50) per closed system cartridge. F. The taxes imposed by this section may be referred to as the "tobacco products tax". G. The tobacco products tax shall be paid by the first purchaser on or before the twenty-fifth day of the month following the month in which the taxable event occurs. History: 1978 Comp., § 7-12A-3, enacted by Laws 1986, ch. 112, § 4; 1988, ch. 95, § 13; 2009, ch. 197, § 21; 2019, ch. 270, § 43; 2026, ch. 31, § 13.