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Compensating tax helps to eliminate unfair competition from out-of-state businesses. It levels the playing fie... Read More
No, New Mexico’s compensating tax is our form of “use tax,” a term used in most other states... Read More
Under certain circumstances, persons selling property or a combination of property and service to someone enga... Read More
Report compensating tax on Line 2 of the CRS-1 Form. Multiply the value of the taxable property or service by ... Read More
Amend the CRS-1 Form for that period. Send the amended CRS-1 Form to the Department with the additional tax du... Read More
The use of property by a government agency is exempt from compensating tax (Section 7-9-14(A) NMSA 1978) with ... Read More
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