New Mexico Locomotive Fuel Sales Tax Exemption
- Apr 5, 2013 | Will Frei
To qualify for the exemption, a business must have made a capital investment in railroad infrastructure according to the following guidelines:
- After July 1, 2011, made a capital investment of one hundred million dollars ($100,000,000) or more in new construction or renovations at the railroad locomotive refueling facility in which the fuel is sold; or
- On or after July 1, 2012, made a capital investment of fifty million dollars ($50,000,000) or more in new railroad infrastructure improvements, including railroad facilities, track, signals and supporting railroad network, located in New Mexico; provided that the new railroad infrastructure improvements are not required by a regulatory agency to correct problems, such as regular or preventative HB 120 maintenance, specifically identified by that agency as requiring necessary corrective action.
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