Sales/Use/Indirect:
New Mexico: Updated Administrative Guidance Addresses Gross Receipts Taxation of Marketplace Providers
FYI-206 Gross Receipts Tax and Marketplace Sales, N.M. Tax. & Rev. Dept. (rev. 7/23). The New Mexico Taxation and Revenue Department issued updated guidance on the imposition of New Mexico gross receipts tax on certain marketplace providers – online or otherwise – as well as in-state or out-of-state individuals and businesses that use a marketplace to sell or license property or services which are subject to New Mexico gross receipts tax. The guidance describes:
The $100,000 threshold for determining whether an out-of-state seller is “engaging in business” in New Mexico and whether its receipts are subject to state gross receipts tax;
Registration and filing requirements for both marketplace providers and marketplace sellers; and
How some sellers may claim a deduction for receipts from sales facilitated by a marketplace provider.
The updated guidance notes that effective July 1, 2021, New Mexico moved to destination-based sourcing. Please contact us with any questions.
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