I work as a locum tenens doctor in NM ( independent contractor). I am about to pay estimated tax. I am told that I will pay 6% gross receipt tax in addition to federal abd state income tax and self employment tax. I si it true?

Zip Code: 87111

Tough question. Probably the best place to find this answer is to visit the New Mexico Tax Department's website at: www.state.nm.us, and click on the link for tax help.

If they want to collect this tax, you would think they would try to make it easy for you to pay it.

Zip Code: 01801

http://www.tax.state.nm.us/oos/GrossReceiptsTaxFAQ.pdf

Here's a link to the New Mexico FAQ re: their Gross Receipts Tax. There is a pretty detailed FAQ page. It appears that the rate you pay varies depending upon the county and city (there is also a fixed state portion).

There are some limited deductions from Gross Receipts, too, so read through the FAQ document.

Good luck!

Gary

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I work as a locum tenens doctor in NM ( independent contractor). I am about to pay estimated tax. I am told that I will pay 6% gross receipt tax in addition to federal abd state income tax and self employment tax. I si it true?

Zip Code: 43232