Essential New Mexico Gross Receipts Tax Workshop

Objective

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Learn essentials of New Mexico gross receipts tax (GRT)

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Description

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Gross receipts tax applies to all businesses operating in New Mexico or having sales to customers in New Mexico. GRT is New Mexico's version of sales tax but it it not the same as sales tax. Overlooking GRT can be a expensive mistake.

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Topics

• What is gross receipts tax?

• What does the term gross receipts mean?

• Who does it apply to?

• What does it apply to?

• Registration

• Tax rates

• Bookkeeping & reporting

• Audits

• Non-Taxable Transaction Certificates

• Is GRT a deductible business expense?

• Compensating tax

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Where: Online

Format: Zoom meeting

Duration: 2-3 hours

Fee: See registration form.

Next session: TBD

 

​Click here to pay & request a registration link.

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Resources

• Gross Receipts Calculator Demo (Excel)

• Bank Deposits & Gross Receipts Bookkeeping Form (Excel)

• How to Get a Business Tax ID Number (video)

• How to File GRT Reports (video)

• Reporting Locations and Claiming Deductions for Gross Receipts Tax (video)

• File an Amended GRT Return & Request a Refund (video)

 

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