Proposed N.M. Regs. Sections 3.2.1.18, 3.2.1.21, 3.2.1.23, 3.2.300.9, N.M. Tax. & Rev. Dept. (7/2/21). The New Mexico Taxation and Revenue Department issued proposed administrative regulations covering the new method of sourcing for marketplace providers and sellers. The proposal includes an explanation of how a service provider’s receipts derived from performing a service in New Mexico, or performing a service outside New Mexico the product of which is initially used in New Mexico, generally are subject to New Mexico’s gross receipts tax unless a specific exemption or deduction provided under state law applies. The proposal includes definitions for relevant terms, explains instances of partial performance of services within New Mexico, and a possible credit for taxes paid on services performed outside New Mexico. Written comments on this proposal may be submitted at the virtual public hearing, which is scheduled for August 10, 2021. Please contact us with any questions.
Source Deloitte
Latest Posts in "United States"
- USTR Evaluates Extending Section 301 Tariff Exclusions on Chinese Imports Beyond November 2025
- Washington DOR Issues Guidance on Tax Implications for Existing Contracts Under New Law
- Washington Taxpayer Challenges New Tax on Advertising Services Under ITFA
- California Use Tax Applies to In-State Repair Parts, Even if Device is Shipped Out-of-State
- Implementing Certain Tariff-Related Elements of the United States-Japan Agreement
