Eversheds Sutherland LLP (LexBlog Mexico)

18 results for Eversheds Sutherland LLP (LexBlog Mexico)

  • SALT trivia – August 16, 2023

    Calling all trivia fans! Don’t miss out on a chance to show off your SALT knowledge! We will award prizes for the smartest (and fastest) participants. This week’s question: New Mexico recently updated guidance for online marketplace providers and sellers reflecting that out-of-state taxpayers pay gross receipts tax at what new reduced rate? E-mail your...

  • New Mexico updates guidance regarding marketplace sales

    The New Mexico Taxation and Revenue Department recently updated FYI-206, which describes the gross receipts tax collection responsibilities for online marketplace providers and sellers. The updated guidance reflects the new reduced gross receipts tax rate used for out-of-state taxpayers, 4.875%. Additionally, the updated guidance provides that marketplace providers may use Form TRD-31117,...

  • What’s the skinny on the MTC?

    In this week’s episode of the SALT Shaker Podcast policy series, our typical format is switched up! Eversheds Sutherland Associate Jeremy Gove tries his hand in the policy space and interviews Partner Nikki Dobay about the latest updates from the MTC. The MTC just held its spring meetings in Albuquerque, New Mexico in April, including...

  • What’s the skinny on the MTC?

    In this week’s episode of the SALT Shaker Podcast policy series, our typical format is switched up! Eversheds Sutherland Associate Jeremy Gove tries his hand in the policy space and interviews Partner Nikki Dobay about the latest updates from the MTC. The MTC just held its spring meetings in Albuquerque, New Mexico in April, including...

  • Legal Alert: Updates from the MTC’s Uniformity Committee Spring Meeting

    The Multistate Tax Commission (MTC) held its spring meetings in Albuquerque, New Mexico on April 19 through 22. The Uniformity Committee meeting took place on April 20 – some highlights from the meeting are included in our full legal alert. Read the full legal alert here.

  • Legal Alert: Updates from the MTC’s Uniformity Committee Spring Meeting

    The Multistate Tax Commission (MTC) held its spring meetings in Albuquerque, New Mexico on April 19 through 22. The Uniformity Committee meeting took place on April 20 – some highlights from the meeting are included in our full legal alert. Read the full legal alert here.

  • New Mexico updates guidance regarding taxation of marketplace sales

    The New Mexico Taxation and Revenue Department recently updated FYI-206, describing the gross receipts tax collection responsibilities for online marketplace providers and marketplace without physical presence in New Mexico. Marketplace providers and marketplace sellers with at least $100,000 of taxable gross receipts in New Mexico in the previous calendar year have a tax collection obligation....

  • A look inside the work of the New Mexico Tax Research Institute

    Richard Anklam, President and Executive Director of the New Mexico Tax Research Institute (NMTRI), joins host and Eversheds Sutherland Partner Nikki Dobay on this episode of the SALT Shaker Podcast policy series. Richard and Nikki discuss the work of NMTRI and tax legislation that passed during the recent legislative session. In particular, New Mexico conformity...

  • Intangible Impact: New Mexico Court of Appeals Excludes Power Purchase Agreement from Valuation of Electric Plant

    On January 6, 2021, the Court of Appeals of New Mexico held that a power purchase agreement (PPA), entered into by a wholesale electricity generator to secure compensation in exchange for providing electricity, constituted intangible property that is not subject to property taxation and cannot be included in the value of the wholesaler’s electric plant...

  • New Mexico Court of Appeals Invalidates Refund-Claim Requirement Not Found In Statute

    The New Mexico Court of Appeals held that a taxpayer’s refund claim was timely even though it did not comply with a requirement found in the Department of Revenue’s regulation.  Specifically, the court concluded that the Department’s regulatory requirement to provide a “fully completed amended return” was not required prior to the expiration of the...

  • New Mexico Administrative Hearings Office Approves UPS’s Alternative Apportionment Method

    The New Mexico Administrative Hearings Office determined that UPS may depart from the statutory apportionment method for trucking companies, based on mileage driven in the state, because it produces a result that bears no rational relationship to UPS’s New Mexico business activity. Echoing a 1992 Montana Supreme Court case also involving UPS, the Administrative Hearings...

  • Marketplace Monday: The July Wave of Marketplace Collection Laws

    On July 1, 2019, eight (8) more states had marketplace collection laws go into effect. These states include Arkansas, Indiana, Kentucky, New Mexico, Rhode Island, Virginia, West Virginia and Wyoming. With this new wave of states, approximately 22 states now have effective marketplace collection laws with many more expected to become effective this fall. Why...

  • New Mexico Administrative Hearings Office Rejects Department’s Attempt to Eliminate Payroll Factor from Apportionment Factor Calculation

    The State of New Mexico Administrative Hearings Office held that the New Mexico Taxation and Revenue Department could not remove the payroll factor from the apportionment factor calculation of a taxpayer in the credit card and personal lending business. The Hearings Office determined that “the party seeking to depart from the proscribed apportionment method,” which,...

  • New Mexico Finds No Obstacle to Inclusion of Foreign Dividends and Subpart F Income in Consolidated Return Base

    The New Mexico Administrative Hearings Office affirmed the Taxation and Revenue Department’s assessment based on General Electric’s exclusion of foreign dividend and Subpart F income from its base income in its New Mexico consolidated return. In this case of first impression, the Hearings Office held that New Mexico’s inclusion of dividends and Subpart F income...

  • Tread Lightly: New Mexico Finds Gain from Stock Sale Is Business Income

    By Chelsea Marmor and Charlie Kearns The New Mexico Administrative Hearings Office affirmed the Taxation and Revenue Department’s assessment to Agman Louisiana Inc. based on the taxpayer’s gain from the sale of stock of a corporation in which the taxpayer owned less than a 50% interest. The Hearings Office ruled that such gain was apportionable...

  • New Mexico Hearing Officer Rules Equitable Recoupment Does Not Offset Gross Receipts Tax on Seller of Software Licenses

    By Chris Mehrmann and Charlie Kearns A New Mexico Taxation and Revenue Department administrative hearing officer found that a seller could not use equitable recoupment as a defense to offset gross receipts (sales) tax assessed on its sales of software licenses. In support of its equitable recoupment argument, the seller maintained that third-party lenders that...

  • Multistate Tax Commission Targets Summer 2015 Implementation of Transfer Pricing Effort

    On July 28, the Arm’s Length Adjustment Services Advisory Group (Group) of the Multistate Tax Commission (MTC) met for the third time at the MTC Annual Conference in Albuquerque, New Mexico. The Group began this effort on June 2 and met again on June 25 in furtherance of a Summer 2015 deadline to implement its...

  • “Functional Equivalent” Nexus: When Goodwill Goes Bad in New Mexico

    The New Mexico Court of Appeals held that for purposes of imposing the state’s gross receipts tax, Barnes & Noble Booksellers, Inc.’s (Booksellers) in-state activities may be imputed to an out-of-state retailer (Taxpayer) based on the use of common Barnes & Noble trademarks. New Mexico Tax. & Revenue Dep’t v. Barnesandnoble.com LLC, No. 31, 231...

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