If services are performed both inside and outside of Texas, then the receipts are attributed to Texas in proportion to the fair value of the services that are rendered in Texas. Texas law apportions receipts from providing services to the location where the services are performed. Perhaps the most significant change is the revised general rule for sourcing service receipts, which is applied if the service is not specifically addressed elsewhere (there are special rules for certain types of receipts, e.g., advertising services, internet hosting services, loan servicing activities). An example of this: The revised general rule for sourcing service receipts "is an exposition of the Comptroller's current interpretation of the sourcing statute, which has been endorsed in part by the Court of Appeals opinion in the Sirius XM Radio litigation." Because the rule is applied both prospectively and retroactively, taxpayers must reassess past plays and think about upcoming audits. The explanatory text in the register provides that many of the additions or revisions are expositions of existing comptroller policy. As amended, this regulation significantly revises the rules for sourcing receipts to Texas, and almost all taxpayers, particularly those engaged in service industries, will be affected by the rule changes. This is somewhat like what happened when the Texas Comptroller's Office published the final version of revised Administrative Rule Section 3.591, Margin: Apportionment, in the Texas Register. Preparing tax returns is not as fun as watching a good football game, but in neither situation do taxpayers expect the rules to change at halftime. At times, these calls can and do change the outcome of the game. From peewee to NFL games, Texans are well accustomed to seeing flags thrown and penalties called midgame. Allow the pop-ups and double-click the form again.Texas is the consummate football state. Note: Your browser may ask you to allow pop-ups from this website. Expand the folders below or search to find what you are looking for.
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More information on this standard is available in FYI-206: Gross Receipts Tax and Marketplace Sales.įor a complete overview of the gross receipts tax, see FYI-105: Gross Receipts and Compensating Taxes: An Overview.ĭirections 1. Please see FYI 200 for more information on choosing the correct location and tax rate for your receipts.īusinesses that do not have a physical presence in New Mexico, including marketplace providers and sellers, also are subject to Gross Receipts Tax if they have at least $100,000 of taxable gross receipts in the previous calendar year.
Receipts 2021 license#
‘Professional services’ are services that either require a license from the state to perform or require a master’s degree or better to perform. One exception is if the services performed meet the definition of ‘professional services’ found in statute.
Receipts 2021 code#
The Department posts new tax rate schedules online and in the GRT Filer’s Kit, which can be found at the bottom of this page.īusinesses will generally use the location code and tax rate corresponding to the location where their goods or the product of their services is delivered. The business pays the total Gross Receipts Tax to the state, which then distributes the counties’ and municipalities’ portions to them.Ĭhanges to the tax rates may occur twice a year in January or July. It varies because the total rate combines rates imposed by the state, counties, and, if applicable, municipalities where the businesses are located. The Gross Receipts Tax rate varies throughout the state from 5.125% to 9.4375%. Although the Gross Receipts Tax is imposed on businesses, it is common for a business to pass the Gross Receipts Tax on to the purchaser either by separately stating it on the invoice or by combining the tax with the selling price.
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Gross receipts are the total amount of money or other consideration received from the above activities. Selling research and development services performed outside New Mexico, the product of which is initially used in New Mexico.Performing services in New Mexico, and performing services outside of New Mexico, the product of which is initially used in New Mexico.Granting a right to use a franchise employed in New Mexico.Leasing or licensing property employed in New Mexico.Gross receipts are the total amount of money or value of other consideration received from: