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Get Fyi 201 Crs Taxes New Mexico Form

This publication provides general information on the application of gross receipts tax to food sold in New Mexico. In the 2004 legislative session, the New Mexico Legislature repealed the general gross receipts tax on food for home consumption and tied the terms directly to the federal Supplemental Nutrition Assistance Program. It also repealed a long-standing .5% credit that businesses within municipal boundaries were using to remain competitive with similar businesses in unincorporated areas o.

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