New Mexico compliance for tile setters
- 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
$2,400
Net terms
14 days
Deposit
33%
State
NM