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The document is a Nontaxable Transaction Certificate Report from the New Mexico Taxation and Revenue Department, providing instructions for taxpayers to request and execute Nontaxable Transaction Certificates (NTTCs) online through the Taxpayer Access Point (TAP) system. It includes sections for taxpayer and seller information, as well as guidelines for recording executed NTTCs.

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What is a Type 9 NTTC New Mexico?

Type 6 - Sales of construction materials and services that will become an ingredient in a construction project upon completion. Type 9 - Sales to non-profits only for purchases of tangibles. Note: Sales of services to non-profits are taxable.

Do I need a resale certificate in New Mexico?

DO I NEED A RESALE CERTIFICATE IN NEW MEXICO? If your business is a retail or wholesale operation that does not want to be responsible for collecting sales tax on resold items and does not want to have any exposure to any future tax liability, then a New Mexico resale certificate will be required.

Who is exempt from NM gross receipts tax?

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.

Who is exempt from sales tax in New Mexico?

Some customers are exempt from paying gross receipts tax under New Mexico law. Examples include government agencies, some nonprofit organizations, and merchants purchasing goods for resale. Sellers are required to collect a valid exemption or resale certificate from buyers to validate each exempt transaction.

How does an NTTC work in New Mexico?

A Nontaxable Transaction Certificate (NTTC) obtained from the Taxation and Revenue Department allows you as a seller or lessor to deduct the receipts from qualified transactions from your gross receipts. You need only one NTTC from a customer to cover all transactions of the same type with that customer.

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How does New Mexico gross receipts tax work?

The business pays the total Gross Receipts Tax to the state, which then distributes the counties and municipalities portions to them. Changes to the tax rates may occur twice a year in January or July.

How to verify a New Mexico resale certificate?

Verify it with the state Heres the link to check the validity of a New Mexico resale certificate. Then, under Businesses, select Check CRS Status. From there, enter CRS ID, zip code, and last 4 of SSN, FEIN, or ITIN. Heres a guide to how you can verify retail sales certificates from every state.

How does the Opportunity Scholarship work in New Mexico?

The State of New Mexico currently has two different NM Opportunity scholarships that assist in covering up to 100% tuition and required fees, as well as up to $50 per credit hour for course-specific fees. There is no application process for either opportunity scholarship.