new-mexico-sales-tax.md53 lines2.0 KB
v20State
| 1 | --- |
| 2 | name: new-mexico-sales-tax |
| 3 | description: Use this skill whenever asked about New Mexico Gross Receipts Tax (GRT). Trigger on phrases like "New Mexico GRT", "Gross Receipts Tax", "NM sales tax", "NMSA §7-9". NM has a GRT, not a traditional sales tax. ALWAYS load us-sales-tax first. |
| 4 | version: 2.0 |
| 5 | --- |
| 6 | |
| 7 | # New Mexico Gross Receipts Tax (GRT) Skill v2.0 |
| 8 | |
| 9 | ## Section 1 -- Quick reference |
| 10 | |
| 11 | | Field | Value | |
| 12 | |---|---| |
| 13 | | Jurisdiction | New Mexico | |
| 14 | | Tax type | Gross Receipts Tax (GRT) -- NOT a traditional sales tax; tax on the SELLER | |
| 15 | | State GRT rate | 5.125% | |
| 16 | | Local add-on range | 0% -- ~4.1875% | |
| 17 | | Maximum combined rate | ~9.3125% | |
| 18 | | Sourcing | Destination-based | |
| 19 | | Economic nexus | $100,000 in taxable gross receipts | |
| 20 | | Tax authority | New Mexico Taxation and Revenue Department (TRD) | |
| 21 | | Portal | https://tap.state.nm.us | |
| 22 | | SST member | No | |
| 23 | | Skill version | 2.0 | |
| 24 | |
| 25 | **CRITICAL: NM GRT taxes virtually ALL services and most transactions. One of the broadest tax bases in the US (similar to Hawaii GET). Tax is on the seller, not the buyer.** |
| 26 | |
| 27 | ## Section 3 -- Transaction pattern library |
| 28 | |
| 29 | | Pattern | Taxable? | Notes | |
| 30 | |---|---|---| |
| 31 | | General TPP | TAXABLE | | |
| 32 | | Clothing | TAXABLE | No exemption | |
| 33 | | Grocery food | EXEMPT | Deductible from gross receipts | |
| 34 | | Prepared food | TAXABLE | | |
| 35 | | ALL services (including professional) | TAXABLE | NM taxes virtually all services | |
| 36 | | SaaS | TAXABLE | | |
| 37 | | Digital goods | TAXABLE | | |
| 38 | | Healthcare services | DEDUCTIBLE | Specific healthcare deductions available | |
| 39 | | Manufacturing equipment | DEDUCTIBLE | Deduction from gross receipts | |
| 40 | | Prescription drugs | EXEMPT | | |
| 41 | | Resale | DEDUCTIBLE | | |
| 42 | |
| 43 | ## Section 10 -- Prohibitions |
| 44 | |
| 45 | - NEVER call NM's tax a "sales tax" without noting it is a GRT on the seller. |
| 46 | - NEVER assume services are exempt -- NM taxes virtually ALL services. |
| 47 | - NEVER confuse "deduction" with "exemption" -- NM uses deductions from gross receipts. |
| 48 | - NEVER compute any number. |
| 49 | |
| 50 | ## Disclaimer |
| 51 | |
| 52 | Informational only. Review by qualified professional required before filing. |
| 53 |
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Use this skill whenever asked about New Mexico Gross Receipts Tax (GRT). Trigger on phrases like "New Mexico GRT", "Gross Receipts Tax", "NM sales tax", "NMSA §7-9". NM has a GRT, not a traditional sales tax. ALWAYS load us-sales-tax first.
US-NEty-2025