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Nm Cit 1 Instructions Form

Nm Cit 1 Instructions Form

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hello everybody my name is matt pacheco i am a tax partner at burton company cpas here in albuquerque new mexico what i'd like to talk about today is the gross receipts tax system in new mexico if you are new to business or new to doing business in new mexico might have several questions regarding gross receipts tax it is a tax on persons engaged in businesses in new mexico for the privilege of doing business in new mexico what does that mean it means that unlike different states this is a tax that is the responsibility of the business owner now no money should actually ever come out of the business owner's pocket what happens is the customer will pay the business the business collects the money and then remits it to the state this is uh done by filing form crs report uh combined reporting system you can do this online there is a tap taxpayer access point on the new mexico taxation and revenue department's website it's relatively straightforward you can

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