Hi @Kim4599
As a fellow host I totally get how confusing the Gross Receipts Tax (GRT) can be. Here’s what I’ve learned from my experience:
You need to register with the New Mexico Taxation and Revenue Department. Once registered, you’ll receive a Combined Reporting System (CRS) identification number, which you’ll use to report and pay your GRT.
Secondly even though you are not NM residents, you still need to file the GRT. I'll advise you file quarterly to keep things manageable. The filing process is straightforward through the NM Taxation and Revenue Department’s online portal. They also have good resources and FAQs to guide you.
It's also important you keep all your rental income records well-organized. It helps a lot when it’s time to file.
The GRT rate can vary depending on the location within NM, so make sure you’re using the correct rate for Angel Fire.
You can, set up automated payments through your bank to avoid missing deadlines.
Also, platforms like Airbnb and VRBO sometimes collect and remit GRT on your behalf, but it’s crucial to check your account settings and confirm if they’re handling it for you. If not, you’ll need to do it manually.
I hope you find the tips shared helpful, you can always reach out to me.
