Free New Mexico Boat Bill of Sale
New Mexico boat paperwork pivots on a 10-foot line: a motor- or sail-powered vessel longer than 10 feet gets a title and registration from the MVD (form MVD-10003), while jet skis and boats 10 feet or under register without a title. The tax surprises people in the other direction — boats pay a 5% excise tax, a full point above the 4% the same buyer would pay on a car, though it's assessed on the price minus any trade-in and New Mexico credits tax paid to another state. The buyer has 30 days, and a genuine gift escapes the excise tax entirely with a notarized Affidavit of Gift (MVD-10018).
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New Mexico Boat Bill of Sale — What You Need to Know
Sales Tax Details
New Mexico's boat excise tax is 5% — a full point higher than the 4% MVET cars pay — calculated on the sale price MINUS any trade-in allowance, for vessels over 10 feet. Credit is given for tax already paid to another state.
Inspection Requirements
No safety or emissions inspection applies to vessel transfers in New Mexico. The MVD checks the HIN against the title and the MVD-10003 application.
New Mexico Boat Sale — Step-by-Step Checklist
- Measure twice: over 10 feet means title + registration; 10 feet or under (including jet skis) means registration only.
- Verify the HIN on the hull against the title (or registration, for short vessels) before paying.
- Write the bill of sale with HIN, make, model, year, length, engine details, sale price, trade-in allowance if any, date, and both signatures.
- Seller signs the New Mexico vessel title over to the buyer.
- Buyer files form MVD-10003 (Application for Vessel Title and Registration) with the MVD within 30 days.
- Buyer pays the 5% boat excise tax on the price less trade-in — and claims credit for any tax already paid in another state.
- Receiving the boat as a gift? File the notarized MVD-10018 Affidavit of Gift instead — no sale, no excise tax.
Common Pitfalls
- Registering with State Parks — New Mexico vessel titles and registration run through the MVD; Parks handles boating safety, not ownership paperwork.
- Budgeting the 4% vehicle rate — boats carry their own 5% excise tax, a full point higher than cars.
- Ignoring the trade-in deduction — the 5% applies to the price MINUS the trade-in allowance, which sellers taking a smaller boat in trade often forget to document on the bill of sale.
- Treating a jet ski like a titled boat — 10 feet and under means registration only, so the bill of sale becomes the primary ownership document; write it accordingly.
Pro Tip
New Mexico boats: the MVD titles anything over 10 feet (MVD-10003, 30 days), the excise tax is 5% of price-minus-trade-in — a point above the car rate — and gifts skip it with the notarized MVD-10018.