⏰ This entry is due for review. Information may not reflect the latest regulations.
Taxes
NM
NM Gross Receipts Tax
New Mexico imposes a Gross Receipts Tax (GRT) on persons engaged in business in the state. The statewide rate is 5%, with local additions bringing combined rates to between 5% and 9.5625%. Unlike a traditional sales tax, the GRT is a tax on the seller rather than the buyer.
Official Source:
NM Taxation and Revenue Department
Always verify current information directly with this agency.