Most businesses today report Gross Receipts Tax using the rate in effect at their place of business, though there are exceptions, such as in the construction industry. Out-of-state remote sellers now pay only the statewide rate of 5.25%.
Under destination-based sourcing, businesses will need to pay the rate in effect in the jurisdiction where the goods or services are delivered. The Department is developing guidance for taxpayer compliance and will have more information available in the coming months.
An interactive map containing gross receipts tax rates around New Mexico can be found here.