- New Mexico’s sales tax nexus laws have significant implications for businesses operating within and outside the state
- Nexus is established when a business has a significant presence or connection within the state, which can be physical or economic
- Economic nexus threshold in New Mexico is $100,000 in gross receipts from sales of tangible personal property, services, or licenses
- Businesses must regularly review their sales data to determine if they meet or exceed the economic nexus threshold
- New Mexico has implemented specific rules for marketplace facilitators to ensure proper collection and remittance of sales tax on behalf of sellers
Source: accountinginsights.org
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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