New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 12 - LIABILITY OF USER FOR PAYMENT OF COMPENSATING TAX
Section 3.2.12.8 - SEPARATE STATING OF THE TAX
Universal Citation: 3 NM Admin Code 3.2.12.8
Current through Register Vol. 35, No. 18, September 24, 2024
A seller of property who is required to collect and pay over to the department the compensating tax due on the value of property sold for delivery into New Mexico must separately state the compensating tax on the invoice. If the compensating tax is not separately stated on the invoice, it will be presumed that it was not collected and paid over and the buyer must pay the compensating tax. The seller who is liable to collect and pay over the compensating tax may become liable for penalties and interest if the seller fails to collect and pay over.
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