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Form RPD-41146 Motor Vehicle Excise-MVET and Leased Vehicle Gross Receipts Tax-LVGRT Annual Reconciliation Report
Motor Vehicle Division / Vehicle Services Room 2132 New Mexico Taxation and Revenue Department P O Box 1028 Santa Fe New Mexico 87504 1028 the total amount of LVGRT paid during the calendar year the total amount of MVET suspended for vehicles purchased during the calendar year reported A credit against the Motor Vehicle Excise Tax (MVET) is available A purchaser of a vehicle to be leased may request the MVET be suspended at the time of registration provided the purchaser supplies the CRS identification number to the Motor Vehicle Division at registration The taxpayer is required to file on an annual basis a reconciliation report to take the credit showing the total amounts paid in LVGRT and the total amounts suspended in MVET ANNUAL RECONCILIATION REPORT ANNUAL RECONCILIATION REPORT COLUMN A Column A show Tax Due COLUMN A TOTAL MVET COLUMN B COLUMN B TOTAL LVGRT Company Name COMPLETION OF THE ANNUAL RECONCILIATION REPORT: CRS Identification Number Detach this portion and send with payment to: If Column B is less than If Column B is less than Column A enter the difference in the last column This is your MVET due for the year If column B is more than or equal to column A enter 0 00 in the last column There is no MVET due You do not get a refund if Column B is more than Column A If you have any questions or need additional forms please call (505) 827 0962 INSTRUCTIONS INTEREST LEASED VEHICLE GROSS RECEIPTS TAX (LVGRT) MONTH Motor Vehicle Division / Vehicle Services Room 2132 MOTOR VEHICLE EXCISE (MVET) AND MOTOR VEHICLE EXCISE (MVET) AND LEASED VEHICLE GROSS RECEIPTS TAX (LVGRT) New Mexico Taxation and Revenue Department P O Box 1028 Santa Fe New Mexico 87504 1028 PENALTY Report Period for Calendar Year Ending RETAIN THIS PORTION FOR YOUR RECORDS REV 01/2008 REV 01/2008 RPD 41146 RPD 41146 Send this report and payment to: Signature Telephone No Taxpayers leasing five or more passenger automobiles for periods of less than six months are subject to the Leased Vehicle Gross Receipts Tax (LVGRT) The rate for the LVGRT is 5% This tax is in addition to the regular gross re ceipts tax Also due is a Leased Vehicle Surcharge of $2 per day each automobile is leased The IRC rate changes quarterly and is announced by the Internal Revenue Service in the last month of the previous quarter The annual and daily interest rate for each quarter will be posted on our website at www tax state nm us The reconciliation report is due on or before January 25th following the end of the calendar year If the reconcilia tion report is late but no additional tax is due the Department imposes a penalty of 5% of the total amount of tax suspended for the vehicles included in the report If the reconciliation report is late but additional tax is due the Department imposes a penalty of 2% per month (maximum of 20% minimum of $5); and interest is computed on a daily basis at the rate established by the U S Internal Revenue Code (IRC) on the unpaid tax TOTAL DUE Total LVGRT Total MVET