New Mexico does not charge sales tax to the buyer. The state does impose a gross receipts tax on the seller.
A gross receipts tax is a tax on the total gross revenues of a company, regardless of their source. This type of tax is similar to a sales tax but is levied on the seller rather than the buyer of goods or services. You'll receive a CRS-1 Filer's Kit twice a year, which is your source for information about filing and paying gross receipts tax.
For more information about gross receipts application and exemptions, go to New Mexico Public Access Law.
Business and occupational gross receipts tax rates range from 5.125% to 8.6875% depending on the location of the business.
Prepared food is taxed at the full rate of 5.125%.
Businesses establish a minimum gross receipts tax connection to the state if any of the following apply:
Find out more about nexus in New Mexico.
Due dates for gross receipts tax are as follows:
If your filing deadline falls on a weekend or holiday, the date will be pushed back to the next business day.
The CRS-1 Filer's Kit has more information about how often you have to file and pay.
To register a new business in New Mexico you can submit an ACD-31015, Application for Business Tax Identification Number to any local tax office. You can also apply for a CRS identification number online.
Penalties and interest apply for failure to file on time. Your CRS-1 Filer's Kit has more information with how and when to calculate penalties and interest.