In transactions for which state law provides gross receipts tax deductions, the buyer or lessee may give the seller or lessor a New Mexico nontaxable transaction certificate (NTTC) to document the business’s deduction of its receipts. Deductible receipts are not...
Because the gross receipts tax structure differs fundamentally from a sales tax, New Mexico does not accept any tax exemption or deduction certificates issued by other states. New Mexico does, however, accept Multijurisdictional Uniform Sales and Use Tax Certificates...
The nontaxable transaction certificate (NTTC) is the only acceptable proof of certain deductions. The buyer obtains an NTTC from TRD to give to a seller. The seller then may deduct those receipts when determining taxable gross receipts. In practice, this means the...
Yes. As a registered New Mexico gross receipts taxpayer, you can obtain, execute and record the use of NTTCs through Taxpayer Access Point. To contact persons who can assist you with this online program, please click the Contact Us button. You may use NTTC-NET to make...
If TRD’s records show that you have an outstanding tax liability or that you are a non-filer for one or more reporting periods, TRD may refuse your application for NTTCs until you pay the liability or submit the missing reports.
No. The available NTTC types are: No. The available NTTC types are: TYPE 2 certificates may be used for certain deductions related to the purchase of tangible personal property; TYPE 5 certificates may be used for certain deductions related to services; TYPE 6...
Statutes allow, but do not require, an NTTC to be executed for these transactions: Sales of tangible personal property other than construction materials to agencies of the United States and New Mexico governments (Section 7-9-54), Type 9 NTTC; Sales of tangible...
Complete an NTTC form by entering the required information about the vendor to whom the NTTC is to be delivered. An NTTC may not be executed by anyone other than the person to whom TRD has issued it. You may complete an NTTC either online or by means of a paper NTTC...
An NTTC may be copied only: By TRD or, on TRD’s request, by the person to whom the NTTC has been issued or to the seller or lessor who has accepted the NTTC for audit, tax compliance or tax administration purposes; By the person to whom TRD has issued the NTTC for...