New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 11 - PRESUMPTION OF TAXABILITY AND VALUE
Section 3.2.11.10 - RESTAURANT FOOD FOR EMPLOYEES
Universal Citation: 3 NM Admin Code 3.2.11.10
Current through Register Vol. 35, No. 18, September 24, 2024
A. Restaurant owners are liable for compensating tax on the value of food served to employees where no amount includable in the owner's gross receipts is received from the employees for the food served to them, if such food was purchased by the owner subject to the deduction from gross receipts for sales of tangible personal property for subsequent sale and no compensating tax was paid.
B. For convenience in accounting and auditing, two dollars per day per employee shall be used as the value of the food served to employees in computing the compensating tax due.
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