This guide provides an overview of Gross Receipts Tax in New Mexico, including applicable rates, registration requirements, compliance obligations, and filing deadlines. It is designed for businesses engaging in transactions within New Mexico.
of total revenue comes from the gross receipts tax, which applies to nearly all service providers.
The following conditions might establish a physical nexus in New Mexico:
Many services are taxable under New Mexico's gross receipts tax system. For example:
To calculate GRT in New Mexico, multiply your gross receipts by the combined state and local GRT rate for the location where the goods are delivered or the service is performed.
You register with the New Mexico Taxation & Revenue Department (NM TRD) through the online “Taxpayer Access Point (TAP)” system. Once registered you’ll receive a Combined Reporting System (CRS) identification number which you use to file and remit the GRT.
Once registered, you determine the correct rate for the location of the sale (state + local) and apply it to your gross receipts from the sale of goods/services (if taxable). Even though the tax is legally on the business, it is normally passed on to the customer.
Yes - if you exceed the economic nexus threshold of $100,000 in taxable gross receipts into New Mexico, you must register and collect the GRT on those sales.
You must use the combined rate for the location of the sale (state + any applicable local/municipal rates). The base rate is the starting point but local jurisdictions add their rate.
Your filing frequency would change (likely to quarterly or monthly) when your gross receipts increase. The TRD assigns frequency based on your business activity and you would need to adjust accordingly—file more frequently and remit by the 25th of the following month.
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