Welcome to the MDTAXES Message Board

The MDTAXES Network is an affiliation of CPAs that specialize in the tax planning and preparation for young health care professionals.  Please leave your questions or comments for our CPAs, who visit the message board regularly, or review the answers, suggestions and ideas posted in response to your colleagues' questions.

Please check out our other Message Boards available at www.FindAGoodCPA.com.

Please note: We are NOT affiliated with the Maryland Tax Department. If you're looking for information about Maryland income taxes, go to www.marylandtaxes.com.

Original MDTAXES Forum
Start a New Topic 
Author
Comment
View Entire Thread
Re: estimated tax

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

--- --- --- --- --- --- --- --- ---

Replying to:

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