Bill > SB264

This bill proposes several changes to New Mexico's taxation laws related to internet sales: 1. It defines the "place of business" for persons engaging in business without a physical presence in the state as the location where the property or service being sold is delivered. 2. It allows a refund of gross receipts tax owed to a person to be applied against compensating tax owed by that person's customer as a result of transactions with that person. 3. It clarifies that a person without physical presence in the state that has less than $100,000 in gross receipts is not considered to be "engaging in business" under the Gross Receipts and Compensating Tax Act. 4. It bars the Taxation and Revenue Department from enforcing the collection of gross receipts tax for tax periods prior to July 1, 2017 on persons engaging in business without physical presence in the state who did not report taxable gross receipts during those periods. The bill aims to address taxation issues related to internet sales and out-of-state vendors without a physical presence in New Mexico.

Budget and Finance, Transportation and Infrastructure

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=264&year=17