NM Gross Receipts Tax Location Codes & Rates

NM Gross Receipts Tax Location Codes & Rates

A space for the New Mexico Gross Receipts Tax Location Code has been added to RANM Form 1106: Listing Agreement - Exclusive Right to Sell, for the listing REALTOR® to fill in so that the proper amount of Gross Receipts Tax is computed and collected by the title company.

There are a few ways to determine the proper location code:

  • table-icon Use a Tax Rate Table
    The New Mexico Dept. of Tax & Revenue publishes a table listing the municipalities, counties, and other tax zones in the state along with their location codes and tax rates. Drawbacks: It can sometimes prove difficult to determine exactly where the property in question lies, since the descriptions of some of the tax zones can be vague. Also, the table is subject to change every 6 months (in June and December), so be sure to download a new version if yours is outdated.
  • googleearthicon Create a Tax Rate Map (using Google Earth installed on your PC or Mac)
    A simpler and potentially more accurate way to look up the location code is with a tax rate map, which you can create yourself in minutes. All that's required is to download and install Google Earth, then download a map overlay (.KMZ file) from the NM Dept. of Tax & Revenue website. Once you have Google Earth and the map overlay installed,
    1. Find your property's location using an address search;
    2. Click the property on the map;
    3. The GRT location code and rate will be displayed in a pop-up box.
    Drawbacks: The map overlay (.KMZ file) is also subject to change every June and December, so you must remember to keep it updated. Also, this requires you to install (and keep up-to-date) Google Earth on your computer, which is a very large download. Credit for this method goes to Larry Brotman of the NM Dept. of Tax & Revenue, Nadine Thomason of Platinum Realty Group, and Nick Fowler at GAAR.
  • googlemapsicon Use a Tax Rate Map (from any Web browser) (RECOMMENDED)
    For an even simpler method that requires no software installation on your computer, and is kept up to date by the NM Tax & Revenue Dept.,, simply navigate to the following web page, then:
    1. Find your property's location by filling in the address and clicking the search icon;
    2. Click the property on the map;
    3. The GRT location code and rate will be displayed in a pop-up box.
    Credit for the original version of this goes to Tego Venturi of Keller Williams in Albuquerque.

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