N.M. Stat. § 7-9-26
Exemption; gross receipts and compensating tax; fuel.
Exempted from the gross receipts and compensating tax are the receipts from
selling and the use of gasoline, special fuel or alternative fuel on which the tax imposed
by Section 7-13-3, 7-16A-3 or 7-16B-4 NMSA 1978 has been paid and not refunded.