The standard state rate is 5. General Merchandise Taxable Most tangible personal property sold at retail.
New Mexico Tangible Goods Tax Rules: Understanding Sales Tax on Physical Products
The Role of Use Tax in Equivalent Transactions When a taxable item is purchased from a seller who does not have a physical presence or nexus in New Mexico, the retailer is not required to collect sales tax. Service-based businesses must also be aware that while many professional services are exempt, the sale of tangible goods incidental to a service may still be taxed.
However, certain items are specifically exempt from taxation. 125%, but local jurisdictions, including counties and municipalities, are permitted to add their own rates.
New Mexico Tangible Goods Tax Rules and Compliance for Sellers
Prescription medications also usually escape sales tax, though non-prescription items often do not. For businesses operating within the state, or for individuals purchasing goods from out-of-state vendors, the rules governing when tax is owed can be complex.
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