New employers can find it confusing to navigate New Mexico’s system for computing, reporting and paying business taxes. But the state Tax and Revenue Department expects them to figure it out and comply.

To simplify the process, the TRD offers free workshops, including one in Albuquerque on January 28 that promises to give new employers an overview of state tax laws, walk them through basic legal requirements for workers’ compensation insurance and workplace safety and show them how to add up what they owe on the sales of products or services.

Taxing gross revenue

New Mexico doesn’t have the traditional sales tax most states do. Rather than assessing the buyer a percentage of his or her purchase price, New Mexico requires the seller of a product or service to collect that add-on fee—the gross receipts tax or GRT—and pay it directly to the state. Continue reading →