{"id":709,"date":"2020-10-20T11:59:52","date_gmt":"2020-10-20T17:59:52","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/businesses\/?page_id=709"},"modified":"2024-07-10T11:29:51","modified_gmt":"2024-07-10T17:29:51","slug":"information-for-non-profits","status":"publish","type":"page","link":"https:\/\/www.tax.newmexico.gov\/businesses\/information-for-non-profits\/","title":{"rendered":"Information for Non-profits"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” background_repeat=”round” custom_margin=”0px||||false|false” custom_padding=”0px||0px|||” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ _module_preset=”default” use_background_color_gradient=”on” background_color_gradient_stops=”#ffffff 0%|#dedede 100%” background_color_gradient_start=”#ffffff” background_color_gradient_end=”#dedede ” custom_margin=”0px||||false|false” custom_padding=”4px||4px||true|false” background_color_gradient_stops_tablet=”#ffffff 0%|#dedede 100%” background_color_gradient_stops_phone=”#ffffff 0%|#dedede 100%” border_width_all=”1px” border_color_all=”#c9c9c9″ global_module=”210″ saved_tabs=”all” locked=”off” collapsed=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_dmb_breadcrumbs font_icon=”%%20%%” home_icon=”%%236%%” use_home_text=”on” home_text=”Businesses” _builder_version=”4.16″ _module_preset=”default” body_text_color=”#282728″ separator_text_color=”#282728″ link_text_color=”#000000″ custom_padding=”0px||0px|15px|false|false” global_colors_info=”{}”][\/et_pb_dmb_breadcrumbs][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ specialty=”on” padding_bottom_1=”0px” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_blurb title=”Explore Section & Events” use_icon=”on” font_icon=”||divi||400″ _builder_version=”4.16″ _module_preset=”7b5e95ba-231a-438c-8dd9-6676746c29e6″ global_colors_info=”{}”][\/et_pb_blurb][et_pb_sidebar area=”et_pb_widget_area_1″ _builder_version=”4.16″ _module_preset=”50d7f88b-470d-49c8-b370-96c4a9bca4df” custom_margin_tablet=”10px||||false|true” custom_margin_phone=”” custom_margin_last_edited=”on|desktop” custom_padding=”|4%|20px|4%|false|true” saved_tabs=”all” locked=”off” global_colors_info=”{}”][\/et_pb_sidebar][\/et_pb_column][et_pb_column type=”3_4″ specialty_columns=”3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_row_inner _builder_version=”4.16″ _module_preset=”default” background_color=”#ffffff” custom_padding=”|20px||20px|false|false” global_colors_info=”{}”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_post_title meta=”off” _builder_version=”4.16″ _module_preset=”default” title_font=”|300|||||||” title_font_size=”50px” title_letter_spacing=”-3px” global_colors_info=”{}”][\/et_pb_post_title][et_pb_text _builder_version=”4.26.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

New Mexico considers you a tax-exempt organization if the federal government has first granted the status to you under Section 501(c) of the Internal Revenue Code with a classification as an educational or social entity.<\/h2>\n

Your gross receipts may be exempt from gross receipts tax under\u00a0Section 7-9-29 NMSA 1978<\/strong><\/a>.<\/p>\n

Generally, the receipts of a 501(c)(3) or 501(c)(6) organization are exempt from gross receipts tax, except for unrelated trade or business under the Internal Revenue Code. Unrelated business income is fully taxable at state and federal levels.<\/p>\n

What you buy may not be exempt from taxation.\u00a0 Note: Although the gross receipts of a 501(c)(3) organization are exempt, the organization will pay another business\u2019s passed-on gross receipts tax when it buys tangible personal property unless it delivers a nontaxable transaction certificate (NTTC) to the seller and the receipts are eligible for the deduction identified on the NTTC.<\/p>\n

For more information see:<\/p>\n

FYI-103: Information for Non-Profit Organizations<\/a><\/u><\/strong><\/p>\n

FYI-105: Gross Receipts & Compensating Taxes \u2013 An Overview<\/strong><\/a><\/p>\n

Quick Guide 04: 501(c)(3) Nonprofit Groups & New Mexico\u2019s Gross Receipts Tax<\/a><\/u><\/strong><\/p>\n

FYI-204: Nontaxable Transaction Certificates (NTTCs)<\/strong><\/a><\/p>\n

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New Mexico considers you a tax-exempt organization if the federal government has first granted the status to you under Section 501(c) of the Internal Revenue Code with a classification as an educational or social entity. Your gross receipts may be exempt from gross receipts tax under\u00a0Section 7-9-29 NMSA 1978. 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