New Mexico compliance for bookkeepers
- Sales tax: 4.88% state rate. Applies to services. GRT (gross receipts tax) 4.875% applies broadly including services.
- Late fees: Up to 1.5% per month under N.M. Stat. §56-8-3. Default 8.75%/yr; contract rates allowed.
Avg invoice
$685
Net terms
15 days
Deposit
0%
State
NM