New Mexico does not have a sales tax. It has a gross receipts tax instead. This tax is imposed on persons engaged in business in New Mexico. In almost every case, the person engaged in business passes the tax to the consumer either separately stated or as part of the...
Generally speaking, sales and leases of goods and other property, as defined in Section 7-9-3(J) NMSA 1978, are taxable. Unlike many other states, the sale and performance of most services in New Mexico are taxable in New Mexico.
The gross receipts tax rate varies throughout the state from 5.125% to 8.8675%. The total rate is a combination of rates imposed by: State of New Mexico; State of New MexicoNew Mexico countiesNew Mexico municipalities.View the current Gross Receipts Tax Rate Schedule....
Exemptions from gross receipts are receipts that are not taxable and do not have to be reported. If all your receipts are exempt, you do not have to register with the Taxation and Revenue Department (TRD) for gross receipts tax purposes. However, you may have to...
A deduction from gross receipts, like an exemption, is an amount not subject to tax. Unlike an exemption, however, you must report on Form CRS-1 both the gross receipts (in Column D) and the amount of deductions you are eligible to claim against those gross receipts...
To obtain NTTCs, you must have a New Mexico CRS identification number, which is an 11-digit number also known as a business tax identification number. Obtain that number by submitting a completed Form ACD-31015, Application for Business Tax Identification Number . See...
Persons engaging in business in New Mexico must register with TRD. With few exceptions, a business must hold a Combined Reporting System (CRS) identification number, also known as a state tax identification number. CRS is TRD’s method for reporting...
Ownership can take one of several forms: Corporation/S-corporation with established officers (president, vice-pres, treasurer etc.); requirements include Federal Employer Identification Number (FEIN) and a Public Regulation Commission (PRC) number for New Mexico...
A Federal Employer Identification Number (FEIN) is required for all ownership types, excluding individual and single-member LLCs unless they pay wages.
If you have any problems logging in or otherwise using New Mexico Webfile, please contact us by sending an e-mail to: TRD-NMWebFile@state.nm.us , or call the CRS Helpdesk. Click the Contact Us button for current phone numbers. When you call, select Option 1.