- New Mexico does not have a sales tax, but it has a gross receipts tax.
- The gross receipts tax is imposed on persons engaged in business in New Mexico.
- Most services performed in New Mexico are subject to the gross receipts tax.
- Some services, such as feeding livestock and insurance premiums, are exempt from the gross receipts tax.
Source: taxjar.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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