New Mexico Sales Tax Exemptions

In lieu of a sales tax, the state of New Mexico collects a 5.125% gross receipts tax. Generally most businesses pass along this tax to the consumer, so the gross receipts tax resembles a sales tax. Local jurisdictions impose additional gross receipt taxes up to 7.125%. The range of combined gross receipts tax rates within the state of New Mexico is between 5.125% and 12.25%.

Gross receipts tax returns are to be filed on or before the 25th day of the month following the month in which the purchases were made. For example, purchases made in the month of January should be reported to the state of Nevada on or before the 25th day of February.

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For more information on New Mexico sales tax exemptions please visit the sites below.

New Mexico Sales and Use Tax Information

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