Gross Receipts Tax - NM Taxation and Revenue Department 2025

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering your taxpayer’s name, identification number (TIN), and optional DBA (Doing Business As) in the designated fields.
  3. Fill in the filing period and, if applicable, the date for a final return. Ensure your mailing address, telephone number, and contact person details are accurate.
  4. Proceed to Part I for Gross Revenue and Tax Computation. Enter the gross revenue amounts for this month from your records into the appropriate sections A, B, or C based on your business type.
  5. Calculate the tax due by following the instructions provided for each section. Make sure to add any previous month's amounts as required.
  6. In Part II, summarize your amounts due. Ensure all calculations are correct before proceeding to sign and submit your form.

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The New Mexico Gross Receipts Tax rate varies depending on the location of the business. The total rate is a combination of: State Base Rate: Currently, the base GRT rate throughout New Mexico is 5.125%.
The state imposes a governmental gross receipts tax of 5.00% on the receipts of New Mexico state and local governments. The exceptions are the gross receipts of public school districts and entities licensed by the Department of Health that are principally engaged in providing health care.
If you are engaged in business in New Mexico, you must file a New Mexico tax return and pay gross receipts tax for the privilege of doing business in New Mexico.
Gross receipts means the total amount of money or the value of other considerations received from selling property or from performing services.
Gross receipts do not include the following: taxes collected for and remitted to a taxing authority if included in gross or total income (such as sales or other taxes collected from customers and excluding taxes levied on the concern or its employees);

People also ask

An amount added to a bill by the customer as a tip is a tip. Because the tip is a gratuity, it is not gross receipts. (3) Amounts denominated as a tip but determined by and added to the customers bill by the establishment may or may not be gross receipts.
New Mexico does not have a sales tax as known in many other states; instead, it has a gross receipts tax. This tax is imposed on persons engaged in business in New Mexico, but in almost every case the person engaged in business passes the tax to the consumer. In that way the gross receipts tax resembles a sales tax.

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