For a comprehensive description of NTTC Types, please refer to FYI-204: Nontaxable Transaction Certificates (NTTCs) or Form ACD-31050, Application for Nontaxable Transaction Certificates (NTTC). If you are a seller or lessor. Legal liability for New Mexico gross receipts tax is placed on sellers and lessors.

Sellers or lessors, depending on the deduction or exemption claimed, may be able to request a Nontaxable Transaction Certification (NTTC) from the buyer or lessee. This FYI describes the NTTCs that are available from the Department and what other documentation can be used in place of an NTTC.

FYI-204 Rev. 07/2017 Page 2 INTRODUCTION TO NTTCS Unlike most states, New Mexico imposes a gross receipts tax rather than a sales tax. Gross receipts tax applies to receipts from property sold in New Mexico, services performed in New Mexico, leases or licenses of property used in this state and granting of

Nontaxable Transaction Certificates (NTTC) are a mechanism to avoid the double taxation (known as pyramiding) that can occur when sales are business-to-business. NTTCs are issued by buyers or lessors to sellers or lessees and are the best proof of that a seller's gross receipts are not subject to gross receipts tax (GRT).

FYI-204: Nontaxable Transaction Certificates (NTTCs)

NTTC FYI 204 For Your Information: Mail or fax the completed forms to Secretara De Economa ; Mexico Taxation and Revenue Department will send you a Mexico Business ID Number and CRS -1 Filer's Kit. You will receive NTTC certificates from …

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For more information on the use of different types of NTTCs and special reporting requirements please see publication FYI-204: Nontaxable Transaction Certificates online at …

FYI-204 - Free download as PDF File (.pdf), Text File (.txt) or read online for free.

Transaction Certificates, online at www.tax.newmexico.gov/forms-publications/ or request FYI-204 from your local district tax office. • Type 2: for tangibles for resale, lease or re-lease, or for purchase of tangibles by a manufacturer that is an ingredient or component part.