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Changes in the New Mexico Gross Receipts Taxes

Beginning January 1, 2013 there are big changes happening with the way New Mexico gross receipts taxes will be charged on a variety of construction-related services and for leased equipment.  

The New Mexico Taxation and Revenue Department is busy writing the regulations for these new deductions and an informal request for input from the industry is open until June 20, 2012.  The formal comment period will be announced when the notice of public hearing is scheduled.  The department is tentatively planning the public hearing in November and may be announced sometime in September.

Review these regulations below and submit your comments directly to the Statepatricia.herrera1@state.nm.us

 

 

What do you think?