New Mexico compliance for freelance developers
- 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
$6,800
Net terms
15 days
Deposit
25%
State
NM