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Your GRT Account Number is part of a sequence of numbers printed next to ACCOUNT NO at the top of your Business License. The GRT account number can be a minimum of 1 digit and a maximum of 9 digits long.
The Gross Receipts Tax rate varies throughout the state from 5.125% to 9.4375%. It varies because the total rate combines rates imposed by the state, counties, and, if applicable, municipalities where the businesses are located.
If you have no business location or resident salesperson but are liable for gross receipts tax (for instance, because you lease property used in New Mexico or perform a non-construction service in New Mexico), you are liable for tax at the rate for out-of-state businesses, the state gross receipts tax rate of 5.125%.
The minimum combined 2022 sales tax rate for Santa Fe, New Mexico is 7%. This is the total of state, county and city sales tax rates. The New Mexico sales tax rate is currently 4%. The County sales tax rate is 3%.
The second way to obtain a CRS identification number is to apply online. Online registration is available at . A CRS identification number will be automatically generated once registration is complete.
The gross receipts tax rate for purchases made in the metro area ranges from 6.375 to 8.3125 percent throughout the MSA; Albuquerque's Gross Receipts Tax rate is 7.875 percent.
There is not a composite return for New Mexico Subchapter S Corporations, however, the NM income tax withheld is reported on line 13 of NM form PTE. To provide feedback on this solution, please login. Your feedback about this article will help us make it better.
A Nontaxable Transaction Certificate (NTTC) obtained from the Taxation and Revenue Department (TRD) allows you as a seller or lessor to deduct the receipts from qualified transactions from your gross receipts. You need only one NTTC from a customer to cover all transactions of the same type with that customer.
To apply for a CRS ID number or for more information on the topic, visit NM's website at . The CRS ID may be entered under the State ID number in Setup > Firm. If you are not required to have a CRS ID, check the box at the bottom of NM screen 1.
When you register a new business, you will receive a Combined Reporting System (CRS) number which is used to manage all of your state tax accounts. New businesses can be registered via mail (Form ACD-31015, 1-2 weeks), online (immediately), or in-person at many city and town halls (also immediately).