Antoine Khoury



Taxpayer was notified of discrepancies between his federal Schedule C and NM gross receipts tax filing during a limited scope audit. Taxpayer was notified that he had 60 days to provide any NTTC’s or other documentation that would  support any deductions taken. The Department assessed the taxpayer because he did not provide the NTTC until after the deadline had expired. Taxpayer protested the assessment claiming that his services were for resale and therefore should be deductible under Section 7-9-48. Receipts from sales for resale are not deductible unless the taxpayer is in possession of an NTTC within the 60-day period provided in Section 7-9-43. Protest denied.