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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.

It often applies to independent contractors who are, in effect, subcontractors whose services are resold in a transaction that is subject to GRT. The buyer of the services issues an NTTC Type 5 to their customer as proof that the customer's services are not subject to GRT.

Personal Income Tax and Corporate Income Tax forms for the 2021 tax year are now available online. Taxpayers, tax professionals and others can access the new forms and instructions at tax.newmexico.gov by opening the Forms & Publications page and then the Income Taxes folder.

Public Access to Court Records As provided by the New Mexico Supreme Court Order and the Case Access Policy for Online Court Records, there are three ways to access New Mexico public court records: Case Lookup for the general public. Secured Odyssey Public Access (SOPA) for registered users.

A customer must provide a nontaxable transaction certificate (NTTC) to a vendor as evidence of a deductible transaction. Without the NTTC, the vendor must pay gross receipts (sales) tax on a particular transaction. The vendor usually recovers tax costs from the purchaser just like any other overhead costs.

Examples include durable medical equipment, some medical services, and purchases made with food stamps. We recommend businesses review the laws and rules put forth by the New Mexico Taxation & Revenue Department to stay up to date on which goods are taxable and which are deductible or exempt, and under what conditions.