Exemption Certificates Must Be Timely Submitted in New Mexico

Tuesday, January 16th, 2018

 
 
New Mexico State Capitol
Share
Link
New Mexico
Construction

The New Mexico Administrative Hearings Office recently denied a gross receipts tax deduction for construction services because the taxpayer did not submit nontaxable transaction certificates (NTTCs) within 60 days.

The taxpayer operated a plumbing business that received a gross receipts tax assessment. The taxpayer performed subcontracting services for large construction companies, but did not obtain NTTCs for its services. The assessment included notice that the taxpayer had 60 days to obtain any applicable NTTCs.

New Mexico provides a deduction for the sale of construction services to a person engaged in construction. The service provider should obtain an NTTC at the time of the sale, but may also obtain one within 60 days of notification that the NTTC is required. The taxpayer did not receive NTTCs at the time of sale or within 60 days of being notified that NTTCs were required. As a result, the deduction was not allowed.

https://www.ttrus.com/Exemption Certificates Must Be Timely Submitted in New Mexico


About TTR

Transaction (buying or selling things), Tax (the tax on this activity), Resources (our people, our website, our support services) - TTR, Inc.

TTR has a website that companies subscribe to and use daily. This website provides a list of everything that can be bought or sold in the U.S. It provides simple answers to whether buying or selling these items is taxable (subject to a sales tax or other tax), and it provides all the legal authority to support these tax answers.

TTR likes to keep things simple and fun, which is why it has great people who provide help to clients on any support questions they have about transaction tax issues.

Please visit TTR on the web at www.ttrus.com or call 866.578.8193.

Data Survey Services Not Taxable in South Carolina

Monday, June 24th, 2019 -The South Carolina Department of Revenue recently ruled that business data survey services were non-taxable pr...

Senior Center Cafeterias are Taxable in Missouri

Friday, June 21st, 2019 -Missouri's Director of Revenue recently issued a letter ruling taxing the sale of cafeteria food by a 501(c)(3...

Hot-Air Balloon Rides in Missouri are Taxable When...

Wednesday, June 19th, 2019 -Missouri recently released a letter ruling addressing the taxation of hot-air balloon rides. The taxpayer was ...

Nevada Exempts Certain Medical Equipment

Monday, June 17th, 2019 -Effective July 1, 2019, Nevada will exempt durable medical equipment, oxygen delivery equipment, and mobility ...

Participatory Sports are Taxable in New York

Friday, June 14th, 2019 -The New York Division of Tax Appeals recently denied a refund claim made by an instructor-led indoor spin clas...

Marketplace Facilitators to Collect Tax in Vermont

Thursday, June 13th, 2019 -Vermont recently passed a bill requiring marketplace facilitators to collect and remit sales tax on retail sal...