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CeriseConsultants
Level 1

New Mexico Gross Receipts Tax on 1099-NEC

Hello,

As a sole proprietor LLC, I am completing my 1099-NEC forms for contractors. I am paying the NM GRT. Should this be noted in boxes 5,6, and 7 on the 1099-NEC? Or is GRT not included in the withholdings?

Thanks in advance,

M

 

1 Reply
MinhT1
Employee Tax Expert

New Mexico Gross Receipts Tax on 1099-NEC

No, the GRT is the gross receipts tax.

 

On your contractors' forms 1099-NEC, you report any federal withholding in box 4 and any state income tax withholding in box 5.

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