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A Nontaxable Transaction Certificate (NTTC) obtained from the Taxation and Revenue Department allows you as a seller or lessor to deduct the receipts from qualified transactions from your gross receipts.

Sales of tangible personal property for resale are not subject to GRT. For example, when a wholesaler sells to a retailer, to avoid double-taxation, the retailer gives the wholesaler an NTTC Type 2 that states the wholesaler's product is being resold by the retailer.

New Mexico About 26,000 low-income New Mexicans began receiving $500 or $1,000 "economic relief" payments last month, state officials said. The stimulus payments, all of which have been issued, were part of a $15 million effort to distribute state surplus funds, ing to New Mexico's Human Services Department.

Important information on the rebates and relief payments includes: A refundable income tax rebate of $1000 for married couples filing joint returns, heads of household and surviving spouses and $500 for single filers and married individuals filing separately.

Economic relief payments for low-income New Mexicans were approved by the Legislature and signed into law by Gov. Michelle Lujan Grisham during the 2023 legislative session. The one-time payment is for qualified New Mexico households who applied and have the lowest incomes.

Payments will be provided to qualified households with the highest need first and there will be a limited number of applicants accepted based on funding availability. Applicants can begin to submit their information online 9AM June 12, 2023 and must complete their application by June 5PM, June 30, 2023.