New Mexico

New Mexico

Standard rate:

 5.125%

Who is obliged to register sales tax:

If you engage in business in New Mexico must register with the Taxation and Revenue Department (TRD) to take the CRS identification number.

An exception: business is exempt from gross receipts (doesn’t met threshold), withholding, or compensating tax by state law.

Threshold:

Remote sellers who lack a physical presence in New Mexico with a total previous calendar year taxable gross receipts of at least $100,000 are considered to be engaging in business in New Mexico and must pay sales tax.

Merchant thresholds by state

Marketplace thresholds by state

The special rules are applicable for the SAAS business.

Software as Service Tax Thresholds by state

Online Marketplaces:

Market place providers are able to fill tax reports and pay tax on behalf of their marketplace sellers. 

Please note, that marketplace sellers may still have to file a return but may be able to claim a deduction for eligible receipts that were reported and paid on their behalf by the marketplace provider.

Registration procedure:

Tax Department offers two options to obtain a CRS identification number. You can submit an application (form ACD-31015) for Business Registration to any local tax office. You can also apply for a CRS identification number online via New Mexico’s portal “Taxpayer Access Point”.

Sales tax payment and filing date:

Your filing frequency can be located on your Registration Certificate received from the Department. Each tax return is due on or before the 25th of the month following the end 

of the tax period that is being reported.

Penalty and interest:

Penalty for failure to pay or file on time is calculated at a rate of 2% of the total tax due per month (any fraction of a month is a full month). Minimum of penalty $5, maximum 20%.