Localities can add as much as 2.74%, and the average combined rate is 7.62%, according to the Tax Foundation. Technically, the sales tax in New Mexico is not sales at all. It is a gross receipts ...

New Mexico’s gross receipts tax (what the state calls its sales tax) is generally imposed on receipts derived by the seller from performing ...

But there are caveats regarding included items and local taxes may still apply. So, here’s what to know about the New Mexico gross receipts tax holiday. Profit and prosper with the best of ...