Statutes, codes, and regulations
New Mexico Administrative Code
Title 3 - TAXATIONChapter 2 - GROSS RECEIPTS TAXES
Part 300 - CREDIT - GROSS RECEIPTS TAX - SERVICES
Section 3.2.300.9 - CREDIT FOR TAX PAID ON SERVICES PERFORMED OUTSIDE THE STATE

N.M. Admin. Code § 3.2.300.9

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Current through Register Vol. 35, No. 23, December 10, 2024
Section 3.2.300.9 - CREDIT FOR TAX PAID ON SERVICES PERFORMED OUTSIDE THE STATE

Under Section 7-9-79.1 NMSA 1978, if another state's sales, gross receipts, or similar tax is paid on services performed outside the state, the gross receipts from which would be subject to the New Mexico gross receipts tax, the taxpayer may take a credit for against the gross receipts tax owed for an amount of the other state's tax paid, provided the credit may not exceed gross receipts tax due on each transaction.

N.M. Admin. Code § 3.2.300.9

Adopted by New Mexico Register, Volume XXXII, Issue 19, October 13, 2021, eff. 10/13/2021