What Businesses Need a Seller’s Permit in New Mexico?
You are subject to the state’s gross receipts tax, and required to register with the Taxation and Revenue Department, if you are “engaged in business” in New Mexico. More specifically, you must pay the tax if any of the following conditions applies to your business operations:
- You sell property in the state
- You perform business services in the state
- You lease or license property used in the state
- You grant permission to use a franchise in the state
- You sell research and development services outside the state, but the initial use of the resulting product is inside the state
Businesses that have no physical presence in New Mexico are subject to the GRT if they generate a minimum of $100,000 of taxable gross receipts in the state in a calendar year.