New Mexico Tax Department Releases Gross Receipts, Compensating Tax Rate Schedule

The New Mexico Taxation and Revenue Department Oct. 1 released its gross receipt and compensating tax rate schedule for Jan to June 2025. The document, which includes keynotes on sales to tribal entities, businesses located on Pueblo land, and changes in the state gross receipts tax rate, is essential for tax professionals dealing with gross receipts tax deductions and can be found in the current GRT Filers Kit on the department’s website. [N.M. Tax’n & Revenue Dep’t, Gross Receipts and Compensating Tax Rate Schedule, 10/01/24]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.