New Mexico Sales Tax Guide

A step-by-step guide to understanding New Mexico gross receipts tax rules.

Overview

Businesses selling taxable goods in New Mexico may need to collect, file, and remit gross receipts tax (sales tax). The process is manageable and our guide to New Mexico sales tax can help you understand how to get started.

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Table of Contents

1
An Overview of New Mexico Sales Tax

Understanding where, when, and how to collect New Mexico gross receipts tax is no easy task. Whether you're collecting tax dollars at the point-of-sale or collecting New Mexico internet sales tax, our guide will break down the sales tax compliance process into focused, easy to understand chapters.

2
New Mexico Gross Receipts Tax Nexus

Understanding whether you need to collect, file, and remit New Mexico gross receipts tax depends on a concept known as nexus. In this chapter, we'll take a look at situations that may trigger in New Mexico such as storing inventory in the state, hiring state residents, and click-through nexus.

3
Registering to Collect New Mexico Gross Receipts Tax

You'll want to get started establishing New Mexico gross receipts tax compliance by understanding how to get your business registered for the necessary gross receipts tax permit. We'll walk you through the process and help you understand when is the best time to get your business registered in New Mexico.

4
Collecting Gross Receipts Tax in New Mexico

After you've registered your business with the New Mexico Taxation and Revenue Department, you're ready to begin collecting sales tax. We'll review topics such as New Mexico sales tax exemptions, gross receipts tax holidays, and determining state and local gross receipts tax rates.

5
Filing New Mexico Gross Receipts Tax Returns

Now that you're business is registered with the New Mexico Taxation and Revenue Department and collecting gross receipts tax, you'll need to file tax returns in an ongoing basis. We'll help you gain a deep understand of the process of filing sales tax returns. Topic covered include filing frequencies, filing on behalf of a client, and what happens if you file late.

6
New Mexico Gross Receipts Tax Filing Due Dates

Every business that registers to collect New Mexico gross receipts tax will be assigned a filing frequency. In this chapter, we'll take a look at the filing frequencies and associated due dates supported by the New Mexico Taxation and Revenue Department.

7
Late Filing Penalties, Fines & Interest

We know, mistakes happen and, from time to time, gross receipts tax filing deadlines are missed. In this chapter, we'll take a look at what penalties you may be required to pay should you miss your assigned New Mexico gross receipts tax filing date. We'll also consider interest charges for late sales tax payments.

8
Gross Receipts Tax on New Mexico Shipping & Handling

The rise of the internet economy has made it possible for buyers around the world to order your products. Did you know shipping and handling may be taxable? In this chapter we'll cover sales tax on shipping and handling in New Mexico. You'll want to pay attention here because there are some important details pertaining to invoicing you'll want to understand.