What Is Exempt From New Mexico Gross Receipts Tax?

Are you curious about what’s exempt from New Mexico’s Gross Receipts Tax (GRT), especially if you’re part of the LGBTQ+ community considering business ventures or travel-related services in the state? gaymexico.net is here to help you navigate the complexities of New Mexico tax laws and discover relevant exemptions. Understanding these exemptions can lead to significant savings and better financial planning. This guide provides clarity, ensuring you can confidently explore opportunities in New Mexico.

1. Understanding New Mexico Gross Receipts Tax (GRT)

What is the New Mexico Gross Receipts Tax (GRT) and how does it work?

The New Mexico Gross Receipts Tax (GRT) is a tax on the total gross receipts of a business. Instead of a sales tax, New Mexico levies the GRT on businesses for revenue earned from selling property, performing services, or leasing property in the state. It’s common for businesses to pass this tax on to the consumer, either by stating it separately or combining it with the price. The GRT rate varies throughout the state, typically ranging from 4.875% to 8.9375%, combining state, county, and municipal rates.

This tax affects various sectors, including those frequented by the LGBTQ+ community, such as hospitality, entertainment, and retail. Knowing how the GRT works is essential for both businesses and consumers. According to the New Mexico Taxation and Revenue Department, understanding the GRT helps businesses comply with tax laws and allows consumers to understand the final cost of goods and services.

2. Key Exemptions from New Mexico GRT

What are the primary exemptions from the New Mexico Gross Receipts Tax that could benefit businesses?

Several exemptions from the New Mexico Gross Receipts Tax (GRT) can significantly benefit businesses. These exemptions can lower the tax burden and promote economic growth. Knowing these exemptions helps businesses, especially those in the LGBTQ+ community, to plan finances and invest strategically. Some of the key exemptions include:

Interstate Commerce: Receipts from transactions where goods are shipped out of state are often exempt.
Sales to the Federal Government: Sales made directly to the U.S. Federal Government are generally exempt.
Certain Healthcare Services: Specific healthcare services provided by licensed professionals may be exempt.
Agricultural Products: Sales of certain agricultural products and livestock can be exempt under specific conditions.
Manufacturing: There are exemptions for manufacturers, particularly those who export products out of state.
Renewable Energy: Businesses involved in renewable energy projects may qualify for exemptions.

These exemptions are particularly relevant for LGBTQ+-owned businesses in sectors like tourism, arts, and technology. According to the New Mexico Taxation and Revenue Department, businesses must meet specific criteria to qualify for these exemptions, often requiring detailed record-keeping and documentation.

3. Specific GRT Exemptions for the LGBTQ+ Community

Are there specific exemptions or tax incentives that are particularly beneficial for LGBTQ+ individuals or businesses in New Mexico?

While there aren’t specific GRT exemptions exclusively for the LGBTQ+ community in New Mexico, certain general exemptions can be particularly beneficial. Businesses in the tourism, arts, and service sectors, which often see significant LGBTQ+ involvement, can leverage these exemptions to reduce their tax liabilities. Some key areas include:

Non-profit Organizations: Many LGBTQ+ community centers and organizations operate as non-profits, making them eligible for exemptions on certain receipts related to their mission.
Arts and Cultural Events: New Mexico promotes arts and culture, and exemptions may be available for certain cultural events and performances, providing an advantage for LGBTQ+ artists and event organizers.
Tourism-Related Services: Businesses offering services to tourists, such as accommodations, tours, and entertainment, may find exemptions related to interstate commerce or specific tourism incentives applicable.

Businesses should consult with a tax professional to determine eligibility for these exemptions. According to the Human Rights Campaign, understanding these tax benefits can empower LGBTQ+ entrepreneurs to contribute more to the state’s economy.

4. How to Claim GRT Exemptions in New Mexico

What steps should businesses take to claim Gross Receipts Tax (GRT) exemptions in New Mexico?

To claim Gross Receipts Tax (GRT) exemptions in New Mexico, businesses must follow a detailed process that ensures compliance with state regulations. Proper documentation and adherence to guidelines are essential for a successful claim. The key steps include:

Identify Applicable Exemptions: Review the New Mexico Taxation and Revenue Department’s publications to identify exemptions relevant to your business activities.
Gather Documentation: Collect all necessary documents, such as invoices, contracts, and certificates, that prove eligibility for the exemption.
Complete Form CRS-1: Fill out Form CRS-1, the New Mexico Gross Receipts Tax Return, accurately. Ensure that all exempt receipts are correctly reported.
Attach Supporting Documents: Submit all supporting documents with Form CRS-1 to validate the exemption claim.
Maintain Records: Keep detailed records of all transactions and documents related to the exemption for at least three years, in case of an audit.

Businesses, especially LGBTQ+-owned enterprises, should consult with a tax advisor to navigate this process effectively. The New Mexico Taxation and Revenue Department provides resources and workshops to assist businesses in understanding and complying with GRT regulations.

5. Common Mistakes to Avoid When Filing for GRT Exemptions

What are some frequent errors businesses make when trying to claim Gross Receipts Tax (GRT) exemptions, and how can they be avoided?

Businesses often make mistakes when claiming Gross Receipts Tax (GRT) exemptions, leading to potential penalties or disallowed claims. Awareness of these common errors can help businesses ensure compliance and maximize their benefits. Some frequent errors include:

Incorrectly Identifying Exemptions: Businesses may misinterpret which activities qualify for exemptions. Thoroughly review the New Mexico Taxation and Revenue Department’s guidelines and seek professional advice.
Inadequate Documentation: Failing to provide sufficient documentation to support exemption claims is a common issue. Maintain detailed records and ensure all necessary documents are included with the GRT return.
Misreporting Receipts: Incorrectly classifying receipts as exempt can trigger audits. Ensure that all receipts are accurately categorized based on state regulations.
Missing Deadlines: Failing to file the GRT return and supporting documents by the deadline can result in penalties. Keep track of filing deadlines and submit all required information on time.
Not Staying Updated: Tax laws and regulations change frequently. Stay informed about the latest updates from the New Mexico Taxation and Revenue Department to avoid outdated information.

LGBTQ+-owned businesses can benefit from workshops and consultations offered by the state to prevent these errors. The Small Business Administration (SBA) also provides resources to help businesses navigate tax compliance.

6. GRT and Interstate Commerce: What You Need to Know

How does the New Mexico Gross Receipts Tax (GRT) apply to businesses engaged in interstate commerce?

The New Mexico Gross Receipts Tax (GRT) has specific implications for businesses involved in interstate commerce, particularly those selling goods or services across state lines. Understanding these rules is crucial for businesses to avoid overpayment or underpayment of taxes. Key considerations include:

Exemptions for Out-of-State Sales: Generally, gross receipts from the sale of tangible personal property that is shipped out of New Mexico are exempt from GRT.
Nexus Considerations: Businesses with a physical presence in New Mexico or that meet certain economic thresholds may be subject to GRT on sales made to New Mexico customers, even if the business is located out of state.
Drop Shipment Rules: Special rules apply to drop shipments, where goods are shipped from one state to another, impacting which state can impose its tax.
Services Performed Out of State: Receipts from services performed entirely outside of New Mexico are typically not subject to GRT. However, if the service benefits a New Mexico resident or business, it may be taxable.

LGBTQ+-owned businesses engaged in e-commerce or providing services nationally should pay close attention to these rules. According to the Streamlined Sales Tax Governing Board, understanding nexus and interstate commerce regulations is essential for businesses to comply with state tax laws.

7. GRT Exemptions for Non-Profit Organizations

What GRT exemptions are available for non-profit organizations in New Mexico?

Non-profit organizations in New Mexico may qualify for specific Gross Receipts Tax (GRT) exemptions that can significantly reduce their tax burden. These exemptions support their mission and community work. Understanding these exemptions is vital for non-profits to manage their finances effectively. Key exemptions include:

Exemption for Specific Receipts: Non-profits may be exempt from GRT on receipts from certain activities related to their charitable purpose, such as donations and grants.
Government Grants: Grants received from government entities are typically exempt from GRT.
Sales of Goods and Services: Sales of goods and services that directly support the non-profit’s mission may be exempt under certain conditions.
Fundraising Activities: Receipts from fundraising events, such as galas and auctions, may be exempt if the proceeds benefit the non-profit’s charitable activities.

LGBTQ+ community centers and advocacy groups organized as non-profits can benefit significantly from these exemptions. The New Mexico Association of Grantmakers offers resources and guidance to help non-profits navigate these tax benefits.

8. Renewable Energy and GRT Exemptions

Are there any GRT exemptions available for businesses in New Mexico’s renewable energy sector?

Yes, New Mexico offers Gross Receipts Tax (GRT) exemptions to support and encourage the growth of the renewable energy sector. These incentives aim to promote sustainable energy development and reduce the state’s reliance on fossil fuels. Key exemptions include:

Equipment and Materials: Purchases of equipment and materials used in renewable energy projects may be exempt from GRT.
Construction Services: Services related to the construction and installation of renewable energy facilities may also be eligible for exemptions.
Sales of Renewable Energy: Sales of electricity generated from renewable sources may qualify for specific GRT deductions or exemptions.
Research and Development: Businesses engaged in research and development of renewable energy technologies may receive tax benefits.

LGBTQ+-owned businesses involved in renewable energy projects can benefit significantly from these incentives. The New Mexico Renewable Energy Industries Association provides resources and support to businesses in this sector, helping them understand and leverage available tax benefits.

9. GRT on Professional Services: Understanding the Rules

How is the Gross Receipts Tax (GRT) applied to professional services in New Mexico, and what should service providers know?

The application of Gross Receipts Tax (GRT) to professional services in New Mexico requires a clear understanding of the rules to ensure compliance. Professional service providers, including those in fields like law, accounting, and consulting, must navigate specific regulations. Key aspects include:

Taxable Services: Generally, GRT applies to receipts from professional services performed in New Mexico. This includes services provided to clients located both within and outside the state.
Location of Service: The location where the service is performed determines the applicable GRT rate. If services are performed in multiple locations, the rate may vary.
Deductions and Exemptions: Some deductions and exemptions may apply to specific professional services, such as those provided to non-profit organizations or government entities.
Interstate Services: For services provided to clients in other states, the GRT may still apply if the service benefits a New Mexico resident or business.

LGBTQ+ professionals offering services in New Mexico need to stay informed about these regulations. The New Mexico Society of Certified Public Accountants provides resources and updates on tax laws affecting professional services.

10. Audits and GRT Exemptions: Preparing Your Business

What should businesses do to prepare for potential audits related to Gross Receipts Tax (GRT) exemptions?

Preparing for potential audits related to Gross Receipts Tax (GRT) exemptions is crucial for businesses in New Mexico to ensure compliance and avoid penalties. Proactive measures can help streamline the audit process and demonstrate adherence to tax laws. Key steps include:

Maintain Accurate Records: Keep detailed and organized records of all transactions, receipts, and supporting documents related to GRT exemptions.
Understand Exemption Requirements: Thoroughly understand the eligibility criteria and documentation requirements for each claimed exemption.
Regularly Review Compliance: Conduct periodic internal reviews to ensure ongoing compliance with GRT regulations and identify any potential issues.
Seek Professional Advice: Consult with a tax professional or accountant to review your GRT filings and ensure accuracy.
Cooperate with Auditors: If audited, cooperate fully with the New Mexico Taxation and Revenue Department by providing requested information promptly and accurately.

LGBTQ+-owned businesses can benefit from workshops and resources offered by the Small Business Administration (SBA) to prepare for audits. Being proactive and informed can help businesses navigate audits successfully.

11. Upcoming Changes to GRT Laws: Staying Informed

How can businesses stay informed about upcoming changes to New Mexico’s Gross Receipts Tax (GRT) laws?

Staying informed about upcoming changes to New Mexico’s Gross Receipts Tax (GRT) laws is essential for businesses to ensure compliance and avoid surprises. Tax laws can change frequently, so proactive monitoring is necessary. Effective strategies include:

Subscribe to Updates: Sign up for email updates from the New Mexico Taxation and Revenue Department to receive notifications about law changes, policy updates, and important announcements.
Monitor Legislative Activity: Keep track of legislative sessions and proposed bills that could impact GRT laws. Websites like the New Mexico Legislature Online provide access to legislative information.
Attend Seminars and Workshops: Participate in tax seminars and workshops offered by professional organizations, such as the New Mexico Society of Certified Public Accountants, to learn about the latest developments.
Consult with Tax Professionals: Regularly consult with a qualified tax professional or accountant who stays current on GRT laws and can provide personalized advice.
Join Industry Associations: Become a member of relevant industry associations that advocate for businesses and provide updates on regulatory changes.

LGBTQ+-owned businesses can also benefit from resources offered by the Human Rights Campaign and the National LGBT Chamber of Commerce, which provide insights into business-related legal and regulatory matters.

12. GRT and Marketplace Sales: What Businesses Need to Know

What do businesses need to know about Gross Receipts Tax (GRT) and marketplace sales in New Mexico?

Businesses selling through online marketplaces in New Mexico must understand the implications of Gross Receipts Tax (GRT) to ensure compliance. Marketplace sales involve unique tax considerations, and clarity is essential for both marketplace facilitators and sellers. Key points include:

Marketplace Facilitator Responsibilities: Marketplace facilitators (e.g., Amazon, Etsy) may be required to collect and remit GRT on behalf of their sellers if they meet certain thresholds.
Seller Responsibilities: Sellers are responsible for understanding their obligations, including providing accurate information to the marketplace facilitator and maintaining proper records.
Nexus and Physical Presence: Even if a seller does not have a physical presence in New Mexico, they may still be subject to GRT if they meet economic nexus thresholds through marketplace sales.
Exemptions and Deductions: Sellers must be aware of any exemptions or deductions that may apply to their sales and provide appropriate documentation.

LGBTQ+-owned businesses using online marketplaces should review the New Mexico Taxation and Revenue Department’s guidance on marketplace sales and consult with a tax professional. The Marketplace Fairness Act also provides additional context on state taxation of online sales.

13. Common GRT Exemptions for Small Businesses

What are some of the most commonly used Gross Receipts Tax (GRT) exemptions for small businesses in New Mexico?

Small businesses in New Mexico can benefit from several commonly used Gross Receipts Tax (GRT) exemptions that reduce their tax liabilities and support their growth. Understanding these exemptions is vital for small business owners to manage their finances effectively. Key exemptions include:

Small Business Deduction: New Mexico allows a small business deduction that reduces the amount of gross receipts subject to GRT. This deduction is particularly helpful for businesses with lower revenues.
Interstate Commerce Exemption: Receipts from sales where goods are shipped out of state are exempt, supporting businesses that export products.
Sales to Governmental Entities: Sales to the U.S. Federal Government and other governmental entities may be exempt, providing relief for businesses that contract with government agencies.
Resale Exemption: Sales of goods purchased for resale are exempt, preventing double taxation along the supply chain.

LGBTQ+-owned small businesses can leverage these exemptions to reinvest in their operations and expand their contributions to the community. The New Mexico Small Business Development Centers (SBDC) offer resources and counseling to help small businesses navigate these tax benefits.

14. The Impact of GRT on Tourism and Hospitality Businesses

How does the New Mexico Gross Receipts Tax (GRT) affect businesses in the tourism and hospitality sectors?

The New Mexico Gross Receipts Tax (GRT) significantly impacts businesses in the tourism and hospitality sectors, influencing their pricing strategies and profitability. Given that tourism is a major industry in New Mexico, understanding these effects is crucial for businesses in this sector. Key considerations include:

Tax on Services: GRT applies to a wide range of services provided by tourism and hospitality businesses, including lodging, dining, tours, and entertainment.
Local GRT Rates: GRT rates vary by location, with some municipalities and counties imposing higher rates, affecting the competitiveness of businesses in those areas.
Impact on Pricing: Businesses often pass the GRT on to customers, which can increase prices and potentially affect demand, especially in price-sensitive markets.
Exemptions for Specific Activities: Certain activities, such as sales to government entities or specific types of events, may qualify for exemptions, providing some relief.

LGBTQ+-friendly hotels, restaurants, and tour operators should factor GRT into their financial planning and pricing strategies. The New Mexico Tourism Department offers resources and support to help businesses navigate these tax considerations.

15. Navigating GRT for LGBTQ+ Events and Festivals

How can organizers of LGBTQ+ events and festivals in New Mexico navigate the Gross Receipts Tax (GRT) requirements?

Organizers of LGBTQ+ events and festivals in New Mexico need to understand the Gross Receipts Tax (GRT) requirements to ensure compliance and effective financial management. These events often involve complex transactions and revenue streams, making it essential to navigate the tax landscape accurately. Key considerations include:

Taxable Revenue: GRT applies to revenue from ticket sales, vendor fees, sponsorships, and other sources related to the event.
Exemptions for Non-Profits: If the event is organized by a non-profit organization, certain exemptions may apply to specific types of revenue.
Vendor Responsibilities: Event organizers should ensure that vendors participating in the event are aware of their GRT obligations and comply with state regulations.
Interstate Sales: For events that attract attendees from out of state, understanding the rules related to interstate commerce is essential.

LGBTQ+ event organizers can benefit from consulting with a tax professional experienced in event taxation. The New Mexico Arts Commission also provides resources and guidance to support cultural events in the state.

16. Understanding GRT on Digital Products and Services

How does the Gross Receipts Tax (GRT) apply to digital products and services sold in New Mexico?

The application of Gross Receipts Tax (GRT) to digital products and services in New Mexico is an evolving area of tax law. With the increasing prevalence of online commerce, understanding these rules is essential for businesses selling digital goods and services. Key considerations include:

Definition of Digital Products: Digital products include items such as e-books, software, digital music, and streaming services.
Taxability of Digital Products: New Mexico generally taxes the sale of digital products and services, with the GRT applied to the gross receipts from these sales.
Sourcing Rules: The location of the customer determines the applicable GRT rate, which can vary depending on the municipality and county.
Nexus Considerations: Out-of-state businesses selling digital products and services to New Mexico customers may be subject to GRT if they meet economic nexus thresholds.

LGBTQ+-owned businesses offering digital products and services should stay informed about the latest tax rulings and regulations. The New Mexico Technology Council provides resources and support to businesses in the tech sector.

17. Best Practices for GRT Compliance in New Mexico

What are the best practices for ensuring compliance with New Mexico’s Gross Receipts Tax (GRT) regulations?

Ensuring compliance with New Mexico’s Gross Receipts Tax (GRT) regulations requires a proactive and systematic approach. Implementing best practices can help businesses avoid penalties and maintain accurate financial records. Key steps include:

Maintain Accurate Records: Keep detailed records of all sales, purchases, and expenses, including invoices, receipts, and bank statements.
Understand GRT Rates: Stay informed about current GRT rates for your business location, as rates can vary by municipality and county.
File Returns on Time: Submit GRT returns and payments by the due dates to avoid penalties and interest charges.
Seek Professional Advice: Consult with a qualified tax professional or accountant to ensure compliance with GRT regulations and optimize tax planning.
Conduct Internal Audits: Regularly conduct internal audits to identify and correct any errors or inconsistencies in your GRT filings.

LGBTQ+-owned businesses can benefit from resources offered by the National LGBT Chamber of Commerce and local business associations to support their compliance efforts.

18. Resources for LGBTQ+ Businesses on GRT Compliance

What resources are available to help LGBTQ+ businesses in New Mexico navigate Gross Receipts Tax (GRT) compliance?

LGBTQ+ businesses in New Mexico have access to a variety of resources that can help them navigate Gross Receipts Tax (GRT) compliance and optimize their financial strategies. These resources provide valuable support and guidance tailored to the unique needs of LGBTQ+ entrepreneurs. Key resources include:

New Mexico Taxation and Revenue Department: The department provides publications, workshops, and online resources to help businesses understand GRT regulations.
Small Business Development Centers (SBDC): SBDCs offer free counseling and training to small businesses, including assistance with tax compliance.
National LGBT Chamber of Commerce (NGLCC): The NGLCC provides resources and advocacy for LGBTQ+ businesses, including information on tax-related issues.
Human Rights Campaign (HRC): HRC offers resources and support for LGBTQ+ individuals and businesses, promoting equality and inclusion in the workplace.
Local LGBTQ+ Business Associations: Local business associations provide networking opportunities, educational programs, and advocacy for LGBTQ+ businesses in New Mexico.

By leveraging these resources, LGBTQ+ businesses can enhance their GRT compliance and contribute to a thriving and inclusive business community in New Mexico.

19. Case Studies: GRT Exemptions in Practice

Can you provide some case studies illustrating how businesses have successfully utilized GRT exemptions?

Examining case studies of businesses that have successfully utilized Gross Receipts Tax (GRT) exemptions in New Mexico can provide valuable insights and practical guidance. These examples highlight how businesses can leverage exemptions to reduce their tax liabilities and improve their financial performance. Here are a few illustrative cases:

Renewable Energy Company: A solar energy company in New Mexico successfully claimed GRT exemptions on the purchase of equipment and materials used in the construction of solar panel installations. By documenting these expenses and meeting the eligibility criteria, the company reduced its tax burden and increased its profitability.
Small Retail Business: A small retail business located near the border successfully utilized the interstate commerce exemption by documenting sales to out-of-state customers. By keeping accurate records of shipping addresses and customer locations, the business reduced its GRT liability.
Non-Profit Organization: A non-profit organization providing services to homeless individuals successfully claimed GRT exemptions on donations and grants received from government entities and private donors. By demonstrating that these funds were used to support their charitable activities, the organization reduced its tax obligations.

These case studies demonstrate the importance of understanding GRT exemptions and maintaining accurate records to support exemption claims. Businesses, especially LGBTQ+-owned enterprises, can learn from these examples and apply similar strategies to their own operations.

20. Expert Advice: Maximizing GRT Exemptions for Your Business

What expert advice can you offer to businesses looking to maximize their Gross Receipts Tax (GRT) exemptions?

To maximize Gross Receipts Tax (GRT) exemptions, businesses need to adopt a proactive and strategic approach. Seeking expert advice and implementing best practices can help businesses identify and leverage available exemptions to reduce their tax liabilities. Key recommendations include:

Consult with a Tax Professional: Engage a qualified tax professional or accountant who specializes in New Mexico GRT regulations to review your business operations and identify potential exemptions.
Conduct a GRT Audit: Perform a comprehensive audit of your GRT filings to identify any errors or missed opportunities for exemptions.
Stay Informed about Law Changes: Keep abreast of changes to GRT laws and regulations, as new exemptions may become available or existing exemptions may be modified.
Document Everything: Maintain meticulous records of all transactions, expenses, and supporting documents to substantiate your exemption claims.
Take Advantage of Training Opportunities: Participate in GRT workshops and seminars offered by the New Mexico Taxation and Revenue Department and other organizations.

By following this expert advice, businesses, including LGBTQ+-owned enterprises, can maximize their GRT exemptions and improve their financial performance.

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FAQ Section: New Mexico Gross Receipts Tax (GRT)

1. What is the New Mexico Gross Receipts Tax (GRT)?

The New Mexico Gross Receipts Tax (GRT) is a tax imposed on businesses for revenue received from selling property, performing services, or leasing property within the state. It is similar to a sales tax but is levied on the business rather than the consumer, although businesses often pass the tax on to consumers.

2. What types of transactions are subject to GRT?

Transactions subject to GRT include selling tangible property, performing services, leasing or licensing property, and granting the right to use franchises within New Mexico.

3. How do I determine the correct GRT rate to charge?

The GRT rate varies by location in New Mexico, combining state, county, and municipal rates. You should use the rate corresponding to the location where the goods or product of your services is delivered. Check the New Mexico Taxation and Revenue Department’s website for current rates.

4. Are there any exemptions from GRT for sales to the federal government?

Yes, sales made directly to the U.S. Federal Government are generally exempt from New Mexico Gross Receipts Tax (GRT).

5. How does GRT apply to businesses engaged in interstate commerce?

Generally, gross receipts from the sale of tangible personal property that is shipped out of New Mexico are exempt from GRT. However, businesses with a physical presence or that meet certain economic thresholds may be subject to GRT on sales to New Mexico customers, even if located out of state.

6. What GRT exemptions are available for non-profit organizations in New Mexico?

Non-profit organizations may be exempt from GRT on receipts from activities related to their charitable purpose, such as donations, grants, and certain sales of goods and services that support their mission.

7. Are there GRT exemptions for the renewable energy sector?

Yes, New Mexico offers GRT exemptions to support the renewable energy sector. These may include exemptions for equipment and materials used in renewable energy projects, construction services, and sales of renewable energy.

8. What are some common mistakes businesses make when filing for GRT exemptions?

Common mistakes include incorrectly identifying exemptions, inadequate documentation, misreporting receipts, missing filing deadlines, and not staying updated with changes in tax laws.

9. How can businesses stay informed about upcoming changes to New Mexico’s GRT laws?

Businesses can subscribe to updates from the New Mexico Taxation and Revenue Department, monitor legislative activity, attend seminars and workshops, consult with tax professionals, and join industry associations.

10. What resources are available to help LGBTQ+ businesses in New Mexico navigate GRT compliance?

Resources include the New Mexico Taxation and Revenue Department, Small Business Development Centers (SBDC), National LGBT Chamber of Commerce (NGLCC), Human Rights Campaign (HRC), and local LGBTQ+ business associations.