us-nm/stat
NMSA 1978, § 7-9-6 — Separately stating the gross receipts tax
A.
Taxpayers subject to the Gross Receipts and Compensating Tax Act, when
billing a customer, shall separately state the amount of tax associated with the
transaction or provide a statement affirmatively indicating that the gross receipts tax is
included in the amount billed.
B.
When the gross receipts tax is stated separately on the books of the seller or
lessor, and if the total amount of tax that is stated separately on transactions reportable
within one reporting period is in excess of the amount of gross receipts tax otherwise
payable on the transactions on which the tax was stated separately, the excess amount
of tax stated on the transactions within that reporting period shall be included in gross
receipts.
Source: official text