New Mexico – State To Tax Out-of-State Sellers And Marketplace Providers

New Mexico is the latest of more than 35 states to adopt economic nexus and impose a sales tax collection requirement on remote businesses that have a certain amount of economic activity in the state. Starting July 1, 2019, an out-of-state seller Continue reading New Mexico – State To Tax Out-of-State Sellers And Marketplace Providers

NEW MEXICO – Mulls State-Run Pot Shops, Subsidized Medical Use

The idea for state-run pot shops comes from a trio of GOP state senators who broke with local Republican Party orthodoxy to embrace legal marijuana with a decidedly big-government approach that would have the state directly oversee most sales — Continue reading NEW MEXICO – Mulls State-Run Pot Shops, Subsidized Medical Use

New Mexico – Proposed Tax Increases Head To House Floor

SANTA FE – Personal income tax cuts signed into law in 2003 by former Gov. Bill Richardson would be essentially wiped off the books under a sweeping tax package that’s headed to the House floor. Members of the House Taxation Continue reading New Mexico – Proposed Tax Increases Head To House Floor

New Mexico – State Is Considering Online Sales Tax

Santa Fe New Mexican by Joseph Ditzler June 22, 2018 New Mexico officials are studying how to take advantage of this week’s U.S. Supreme Court ruling allowing states to tax internet sales, a potential windfall for state government that also Continue reading New Mexico – State Is Considering Online Sales Tax

New Mexico – State Gets Tax Forecasting Tool To Address Loopholes

Ledger-Enquirer By Morgan Lee December 12, 2012 SANTA FE, N.M. – New Mexico lawmakers began using information from a fiscal planning tool that predicts future tax revenues as they contemplate changes to the state’s complex taxes on sales and business services. Continue reading New Mexico – State Gets Tax Forecasting Tool To Address Loopholes

New Mexico – Sales Tax Holiday August 4th – August 6th

SALT Report 3920 – During the Tax Holiday the law provides a deduction from gross receipts for retail sales of qualifying tangible personal property; in effect allowing the retailer to sell the items “tax free.” For More Information: Sales Tax Holiday Continue reading New Mexico – Sales Tax Holiday August 4th – August 6th

Multi-State – Sales Tax Holidays For Back-To-School Shoppers in 2017

Kiplinger Kip Tips by Sarah Smith July 6, 2017 These 16 states offer sales tax breaks on everything from computers to paintbrushes this summer. Before you wander the aisles of your favorite department store to stock up on the new Continue reading Multi-State – Sales Tax Holidays For Back-To-School Shoppers in 2017

New Mexico – Gross Receipts Tax Holiday August 1, 2014 through August 3, 2014

SALT Report 3417 – The tax holiday begins at 12:01 a.m. on the first Friday of August and concludes on the following Sunday at midnight. During that time the law provides a deduction from gross receipts for retail sales of Continue reading New Mexico – Gross Receipts Tax Holiday August 1, 2014 through August 3, 2014

New Mexico – Resale and Exemption Certificates

SALT Report 3269 – Resale and exemption certificates are one of the most (if not the most) impacting errors found during sales and use tax audits.  As technology has progressed the expectation to produce timely, valid documentation has escalated.  Be Continue reading New Mexico – Resale and Exemption Certificates

New Mexico – Resale and Exemption Certificate Deadline Reminder (NTTC)

SALT Report 3187 – 60 days means 60 days.  Nontaxable transaction certificate (NTTC) is required for services that are resold in normal course of business.  Under Section 7-9-48 “receipts from selling a service for resale may be deducted from gross Continue reading New Mexico – Resale and Exemption Certificate Deadline Reminder (NTTC)