2025 NM Fuel Tax Hike: Save $3k+ on Your Fleet Before January Hits

Hey, Albuquerque contractors—if you're running a landscaping crew or construction fleet, mark your calendar for January 1, 2025. New Mexico's fuel excise taxes are getting a bump, and it's gonna sting if you're not prepped. We're talking an extra 2¢ per gallon on gasoline and diesel, pushing the state gasoline tax to $0.19/gallon and special fuels (like your diesel rigs) to $0.25/gallon. That's per the NM Taxation & Revenue Department—vendors pay it, but guess who feels it? You, at the pump.

For a mid-size landscaping outfit burning 50,000 gallons/year (that's about 20 trucks hauling 10k miles each), that's $1,000+ extra just on the hike. Add federal excise (18.4¢/gal gas, 24.4¢ diesel) and you're looking at $3k-5k total fuel tax hit if unchecked. But here's the good news: You can slash that with smart tracking now.

3 Quick Wins to Deduct & Save:

1. Mileage Logging Like a Pro: Track every mile in QuickBooks—NM allows $0.67/mile deduction (2025 IRS rate). For your crew's job-site runs, that's $2k+ back on taxes. I did this for a 200-employee landscaping firm; they reclaimed $4k in one quarter.

2. Section 179 on Fuel-Intensive Gear: Accelerate depreciation on trucks/trailers—deduct up to $1.22M in 2025 equipment buys. Buy that new mower before Dec 31? Write off 100% Year 1.

3. IFTA Compliance for Cross-State Jobs: If you're hauling into AZ or TX, file IFTA quarterly (due Jan 31 for Q4). Miss it? $500 fines eat your savings. Use TaxJar to auto-file—saves 2 hours/month.

Don't let this hike bury your margins. As your local Albuquerque construction bookkeeper, I've got your back with job costing and AIA billing that factors in fuel volatility.