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Dealing with Gross Receipt Tax (GRT)? We Can Help!

  • Post published:June 28, 2022
  • Post category:News

‘Destination-Sourced’ Gross Receipts Tax can be very difficult to deal with, especially if you own a business here in New Mexico.

Destination sourcing requires most taxpayers to pay the gross receipts tax rate in effect where their goods or services are delivered. New Mexico also adopted the rules under laws passed in 2019 and 2020 that allowed the state to begin collecting GRT on internet sales. The sourcing rules apply to both in-state businesses and those based elsewhere. Based on the obvious difficulty businesses have trying to comply with the new tax laws, some tools were developed (at taxpayer expense of course) and we want to share that with you here!

So for more information on how to deal with the GRT for your business, you can click or tap HERE.