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Do you charge sales tax on labor in New Mexico?

New Mexico does not have a sales tax. It has a gross receipts tax instead. This tax is imposed on persons engaged in business in New Mexico. In almost every case, the person engaged in business passes the tax to the consumer either separately stated or as part of the selling price.

Are services subject to sales tax in NM?

Generally speaking, sales and leases of goods and other property, both tangible and intangible, are taxable. Unlike many other states, sales and performances of most services are taxable in New Mexico.

Why is retainage outdated?

Bottom Line. Retainage is a flawed and potentially outdated practice. They put undue pressure on construction businesses, and often, construction businesses leverage retainage into discounts from their sub-tiered comrades. Retention bonds are an imperfect solution for the retainage problem.

Can I be my own general contractor in New Mexico?

A homeowner may apply for a permit as the general contractor to build, construct, alter, repair, demolish or make installations to a single-family dwelling only at the location of the homeowners primary residence.

Do you need a license to be a handyman in NM?

Do You Need a License in New Mexico to Become a Handyman? You must register as a handyman to perform work in New Mexico. The state offers a handyman certification that restricts the type of work you can perform and the amount of compensation that you can earn each year.

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