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Reporting Locations and Claiming Deductions for Gross Receipts Tax
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=wf9QGINzSKA
On July 1, 2021, New Mexico began requiring most businesses to report Gross Receipts Taxes (GRT) using the locations where their goods or the product of their services are delivered. • This video explains how to file a GRT return for multiple locations using the Taxpayer Access Point (TAP) at tax.newmexico.gov. It also shows users how to claim deductions on a GRT return. • IMPORTANT UPDATE: The GRT return now only provides codes for deductions that are required by law to be separately reported. Although other codes are no longer listed, the underlying deductions are still available to taxpayers who have valid Non-Taxable Transaction Certificates on file from their customers, or who can provide alternative evidence to establish they are entitled to a particular deduction. • More information is available in the GRT filers kit, which can be found in the Business Taxes folder of the Forms Publications page at tax.newmexico.gov. • Information about GRT deductions is available in publication FYI 105, and information about determining reporting locations for GRT is available in FYI 200. Both are in the publications folder of the Forms Publications page at tax.newmexico.gov. • Help for TAP filers is available through email at [email protected]. Help with GRT questions is available through email at [email protected] or by calling 1-866-285-2996. • 00:00 Introduction • 03:15 Information needed to complete a GRT return • 05:28 Reporting locations and deductions • 12:40 Making a payment by e-check
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