Sherman Oaks, CA asked in Tax Law for New Mexico

Q: If I was receiving Medicaid, and earned income far below Federal Poverty figure, how can I owe NM Gross Receipts tax?

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1 Lawyer Answer
Concetto Kirk Di Giacomo
Concetto Kirk Di Giacomo
Answered
  • Tax Law Lawyer
  • Scottsdale, AZ

A: NM Gross Receipts Tax is a unique tax in that anyone who sells a good or service in New Mexico owes it. It’s similar to a “sales tax” but is only levied on the seller and not the buyer. While there are a few exceptions, unless you qualify for one of them and timely file an NTTC, you are responsible for paying this tax.

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