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.

Florida Exempts Generators Used in Assisted Living...

Thursday, May 24th, 2018 -Florida recently adopted an emergency rule on exempt sales of emergency generators for use at nursing homes an...

Washington Penalty Reduction Program

Monday, May 21st, 2018 -Businesses that apply to register with Washington's Marketplace Fairness Penalty Reduction Program by June 30,...

Fuel Used to Heat Detached Garages Taxable in Maine

Monday, May 21st, 2018 -Maine Revenue Services recently released a publication explaining that sales tax applies to fuel that is used ...

Cloud Software No Longer Taxable in Indiana

Thursday, May 17th, 2018 -Effective July 1, 2018, cloud software will no longer be taxable in Indiana. Indiana taxes the sale, lease,...

Sales Tax Increase in the Historic Triangle Region of...

Monday, May 14th, 2018 -Effective July 1, 2018, there will be an additional one percent (1%) regional sales and use tax imposed in the...

Sales by Charitable Organizations Generally Exempt in...

Friday, May 11th, 2018 -The Arkansas Department of Finance and Administration recently addressed the taxability of sales made by a non...