Prescription Drugs Non-Taxable Medication required for medical purposes. Prescription medications also usually escape sales tax, though non-prescription items often do not.
New Mexico Sales Tax Penalty Avoidance Strategies
Non-Taxable Items Not all products and services are treated equally under New Mexico tax law. Groceries, for example, are generally not taxed, although prepared foods or hot foods purchased in a restaurant are typically taxable.
This framework places a shared responsibility on both sellers and buyers to comply with tax regulations. In these scenarios, the use tax comes into play.
Avoiding New Mexico Sales Tax Penalties and Use Tax Compliance
Prepared Food Taxable Food sold by restaurants for immediate consumption. Economic nexus rules mean that a retailer can be required to collect and remit sales tax even without a physical store or warehouse in the state.
More About New mexico sales use tax
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