Enchantment State News

Of the $7.2 billion in taxes collected by New Mexico in 2020, less than 0.1 percent, or $1.7 million, came from taxes on public utilities licenses, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

The Census Bureau sets the tax classifications among the survey categories and cautions they may differ from the classifications set by the state governments.

Below is a breakdown of how taxes were classified by subcategory and how much was collected.

Type of Tax	Amount
Insurance premiums sales tax	$223,338,000
Other selective sales and gross receipts taxes	$161,031,000
Hunting and fishing license	$24,645,000
General sales and gross receipts taxes	$3,103,765,000
Motor fuels sales tax	$230,303,000
Motor vehicle license	$209,574,000
Selective sales and gross receipts taxes	$831,241,000
Pari-mutuels sales tax	$842,000
Motor vehicle operators license	$5,004,000
Individual income taxes	$1,227,926,000
Severance taxes	$1,415,606,000
Alcoholic beverages sales tax	$20,061,000
Public utilities sales tax	$33,791,000
Amusements license	$6,429,000
Public utilities license	$1,710,000
Corporations net income taxes	$95,556,000
Taxes, NEC	$54,253,000
Amusements sales tax	$66,795,000
Tobacco products sales tax	$95,080,000
Corporations in general license	$36,705,000
Occupation and business license, NEC	$48,307,000

Source: U.S. Census Bureau