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Gross receipts are the total amount of money or value of other consideration received from: 

  • Selling property in New Mexico;
  • Leasing or licensing property employed in New Mexico;
  • Granting a right to use a franchise employed in New Mexico;
  • Performing services in New Mexico, and
  • Selling research and development services performed outside New Mexico, the product of which is initially used in New Mexico.

Gross receipts means the total amount of money or other consideration received from the above activities. Although the gross receipts tax is imposed on businesses, it is common for a business to pass the gross receipts tax on to the purchaser either by separately stating it on the invoice or by combining the tax with the selling price.

The gross receipts tax rate varies throughout the state from 5.125% to 8.6875% depending on the location of the business. It varies because the total rate combines rates imposed by the state, counties, and, if applicable, municipalities where the businesses are located. The business pays the total gross receipts tax to the state, which then distributes the counties' and municipalities' portions to them.

Changes to the tax rates may occur twice a year in January or July. We post new tax rate schedules online and in the CRS-1 Filer's Kit. Always check the current Gross Receipts Tax Rate Schedule to see if the rate for your business location(s) has changed.

For a complete overview of the gross receipts tax, see FYI-105: Gross Receipts and Compensating Taxes: An Overview.

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Santa Fe, NM 87504
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