us-nm/stat
NMSA 1978, § 7-9-3.5 — Definition; gross receipts
A.
As used in the Gross Receipts and Compensating Tax Act:
(1) "gross receipts" means the total amount of money or the value of other
consideration received from selling property in New Mexico, from leasing or licensing
property employed in New Mexico, from granting a right to use a franchise employed in
New Mexico, from selling services performed outside New Mexico, the product of which
is initially used in New Mexico, or from performing services in New Mexico. In an
exchange in which the money or other consideration received does not represent the
value of the property or service exchanged, "gross receipts" means the reasonable
value of the property or service exchanged;
(2) "gross receipts" includes:
(a) any receipts from sales of tangible personal property handled on
consignment;
(b) the total commissions or fees derived from the business of buying, selling
or promoting the purchase, sale or lease, as an agent or broker on a commission or fee
basis, of any property, service, stock, bond or security;
(c) amounts paid by members of any cooperative association or similar
organization for sales or leases of personal property or performance of services by such
organization;
(d) amounts received from transmitting messages or conversations by
persons providing telephone or telegraph services;
(e) amounts received by a New Mexico florist from the sale of flowers, plants
or other products that are customarily sold by florists where the sale is made pursuant
to orders placed with the New Mexico florist that are filled and delivered outside New
Mexico by an out-of-state florist;
(f) the receipts of a home service provider from providing mobile
telecommunications services to customers whose place of primary use is in New
Mexico if: 1) the mobile telecommunications services originate and terminate in the
same state, regardless of where the services originate, terminate or pass through; and
2) the charges for mobile telecommunications services are billed by or for a customer's
home service provider and are deemed provided by the home service provider. For the
purposes of this section, "home service provider", "mobile telecommunications
services", "customer" and "place of primary use" have the meanings given in the federal
Mobile Telecommunications Sourcing Act; and
(g) receipts collected by a marketplace provider engaging in business in the
state from sales, leases and licenses of tangible personal property, sales of licenses
and sales of services or licenses for use of real property that are sourced to this state
and are facilitated by the marketplace provider on behalf of marketplace sellers,
regardless of whether the marketplace sellers are engaging in business in the state; and
(3) "gross receipts" excludes:
(a) cash discounts allowed and taken;
(b) New Mexico gross receipts tax, governmental gross receipts tax, leased
vehicle gross receipts tax, and cannabis excise tax payable on transactions for the
reporting period;
(c) taxes imposed pursuant to the provisions of any local option gross
receipts tax that is payable on transactions for the reporting period;
(d) any gross receipts or sales taxes imposed by an Indian nation, tribe or
pueblo; provided that the tax is approved, if approval is required by federal law or
regulation, by the secretary of the interior of the United States; and provided further that
the gross receipts or sales tax imposed by the Indian nation, tribe or pueblo provides a
reciprocal exclusion for gross receipts, sales or gross receipts-based excise taxes
imposed by the state or its political subdivisions;
(e) any type of time-price differential;
(f) amounts received solely on behalf of another in a disclosed agency
capacity; and
(g) amounts received by a New Mexico florist from the sale of flowers, plants
or other products that are customarily sold by florists where the sale is made pursuant
to orders placed with an out-of-state florist for filling and delivery in New Mexico by a
New Mexico florist.
B.
When the sale of property or service is made under any type of charge,
conditional or time-sales contract or the leasing of property is made under a leasing
contract, the seller or lessor may elect to treat all receipts, excluding any type of time-
price differential, under such contracts as gross receipts as and when the payments are
actually received. If the seller or lessor transfers the seller's or lessor's interest in any
such contract to a third person, the seller or lessor shall pay the gross receipts tax upon
the full sale or leasing contract amount, excluding any type of time-price differential.
Source: official text