Businesses, both old and new, must pay Gross Receipts Taxes to the State of New Mexico when they sell a product or service in New Mexico. GRT differs from sales taxes charged by other states in that it applies to all sales – not just tangible items. The business development organization WESST is offering an online workshop at noon on March 7, 2025, to help small business owners understand their GRT obligation.

Participants will learn how GRT applies to business, how often it must be reported, and where to submit it. The workshop helps business owners understand why one business must report and pay GRT monthly while another’s obligation may be reported and submitted less frequently. The workshop also offers advice to those businesses that may have fallen behind on payments.

GRT can also seem confusing and onerous since New Mexico adopted “destination sourcing” in 2021 to determine how much a business must collect from its customer. Destination sourcing, which refers to where the product or service is delivered, will be explained in the WESST workshop.

Register for the March 7, 2025 online workshop, and get a heads up by reading the GRT overview on the state Tax and Revenue Department website. Learn more about WESST, and find all of its workshops here.

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