Form Fyi-210 - Information For The Printing Industry printable pdf download

Form Fyi-210 - Information For The Printing Industry

FYI-210

For Your Information

Tax Information/Policy Office P.O. Box 630 Santa Fe, New Mexico 87504-0630

INFORMATION FOR THE PRINTING

INDUSTRY

This FYI provides general guidance concerning the printing industry's liability for New Mexico gross receipts tax

on receipts from printing services performed in the state of New Mexico.

CONTENTS

Definitions

Nontaxable Transaction Certificates (NTTCs)

Department Requirements

Registration

NTTCs

Filing Requirements

Examples

NTTC Chart

Taxpayer Information

For Further Assistance

DEFINITIONS

"Gross receipts" is defined as any amount of money or other consideration received for the sale of property in

New Mexico, the lease of property used in New Mexico, the sale of a service performed in New Mexico and the

sale of a service performed outside of New Mexico the product of which is initially used in New Mexico [7-9-3

(F)]*.

"Gross receipts tax" is an excise tax levied on persons engaged in business in New Mexico for the privilege of

doing business in New Mexico.

"Engaged in business" means carrying on or causing to be carried on any activity with the purpose of direct or

indirect benefit [7-9-3(E)].

"Service" is defined as all activities engaged in for other persons for a consideration, which activities involve

predominantly the performance of a service as distinguished from selling or leasing property. "Service" includes

activities performed by a person for its members or share holders. In determining what is a service, the intended

use, principal objective or ultimate objective of the contracting parties shall not be controlling [7-9-3(K)].

"Manufacturing" is defined as combining or processing components or materials to increase their value for sale

in the ordinary course of business but does not include construction [7-9- 3(G)].

NONTAXABLE TRANSACTION CERTIFICATES (NTTCs)

The following NTTC's may be issued by a printer:

Type 1 - May be issued for the purchase of tangible personal property which will become an ingredient or

component part of the product being manufactured (see example 1).

Form Fyi-210 - Information For The Printing Industry