New Mexico Gross Receipts Tax: Fundamentals and Strategies
Credits Available
| Credit | Status | Total | Until |
|---|---|---|---|
| New Mexico CLE |
|
6 Total | 08-04-2027 |
Buy This Course
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or
Overview
Stay in Compliance With Gross Receipts Tax Regulations
Handling the gross receipts tax is rarely simple with its multiple levels of taxation. You need to stay abreast of new ways businesses can control the amount of taxes they pay, while keeping up to date with changing legislation. This online seminar will provide you with an overview of the gross receipts tax, relevant issues and tax strategies. Register today!
- Avoid penalties for non-compliance by following registration, permit and reporting requirements.
- Minimize tax exposure by staying current with regulatory changes.
- Claim key exemptions: don't miss any important details that can save your clients money.
- Find out if your client is overpaying taxes on interstate transactions, and how to reclaim the money.
- Build your industry-specific knowledge so you can tailor your advice to a diversified client base.
- Help clients reclaim lost profits from excessive taxation with detailed knowledge of the process.
- Let our distinguished faculty be your guide: get answers to your tough questions to expand your knowledge.
Abbreviated Agenda
- Overview of Gross Receipts Tax
- Gross Receipts Taxation of Manufacturers
- Gross Receipts Taxation of Services: Analysis of Relevant Statutes and Regulations
- Non-Taxable Transaction Certificates
- Gross Receipts Taxation of Construction Services
- Gross Receipts Selected Health Care Services
- Tax Disputes
Credit Details
Credits Available
| Credit | Status | Total | Until |
|---|---|---|---|
| New Mexico CLE |
|
6 Total | 08-04-2027 |
Select Jurisdiction
CLE
Agenda
-
Overview of Gross Receipts Tax
- Imposition of Gross Receipts Tax
- Definition of Gross Receipts
- Exemptions
- Deductions
- Recent Developments
-
Gross Receipts Taxation of Manufacturers
- Introduction
- Double Tax Potential; Overview of Statutory Scheme
- Materials Purchases
- Subcontracted (Manufacturing) Services
- Other Services
- Sales of Manufactured Products by Manufacturer
- Sale for Resale
-
Gross Receipts Taxation of Services: Analysis of Relevant Statutes and Regulations
- General Rules for Gross Receipts Taxation of Services
- Services Performed in State
- Services Performed Out of State
- Sales of Service for Resale
-
Non-Taxable Transaction Certificates
-
Gross Receipts Taxation of Construction Services
- Introduction
- Taxation of Construction Services: Prime Contractors
- Taxation of Construction Materials Suppliers
- Taxation of Subcontractors
- Sale of Service for Resale
- Compensating Tax
-
Gross Receipts Selected Health Care Services
- Health Care Service Provided to Medicare Beneficiaries
- Sales of Commercial Contract Services and Medicare Part C Services
-
Tax Disputes
- Generally
- Protesting an Assessment
- Claims for Refund
Who Should Attend
This intermediate level online seminar is designed for professionals dealing with the gross receipts tax:
- CPAs and Accountants
- Attorneys
- CFOs
- Controllers
- Accounts Payable Professionals
Speakers
Speaker bio
Timothy R. Van Valen
is an attorney with Van Valen State Tax Law, LLC in Albuquerque. His practice has focused almost exclusively on state and local tax matters for large international, national and regional businesses. Mr. Van Valen has substantial experience with most New Mexico taxes, including corporate income, gross receipts and compensating, property, severance, and related New Mexico tax incentives. He has extensive experience addressing federal constitutional limitations and pre-emption of New Mexico's jurisdiction to tax non-New Mexico businesses and income earned outside the United States. Mr. Van Valen represents clients in administrative tax matters, including audits, administrative protests, taxpayer-specific administrative rulings, drafting and commenting on regulations, refund claims, and tax incentive claims in all courts of New Mexico. He also participates in legislative affairs, including drafting of legislation and testimony to legislative committees. Mr. Van Valen contributes to two annually published American Bar Association Tax Section publications, and is co-editor-in-chief of the Property Tax Deskbook. He also publishes articles in Tax Notes State, and is a frequent speaker locally and nationally on New Mexico tax issues. Mr. Van Valen was recently inducted into the American College of Tax Counsel based upon his experience in the national state tax community. He earned his B.S. degree from Kalamazoo College and his J.D. degree from Washington University.
Speaker bio
James P. O'Neill
is the principal of O'Neill Consulting LLC, a firm focusing on New Mexico tax law and tax policy. He represents private and governmental clients before legislative bodies, building on his 19 years as director of tax policy with the New Mexico Taxation and Revenue Department. Mr. O'Neill is a member both the Association of Commerce and Industry and the Greater Albuquerque Chamber of Commerce, serving as a board member for several years. He is a founding member of the New Mexico Tax Research Institute, serving on its board and for a few years as its secretary. Mr. O'Neill earned his B.S. degree from Fordham University and his M.S. degree from the University of New Mexico.
Speaker bio
Richard L. Anklam
is the President and Executive Director of the New Mexico Tax Research Institute, a member supported non-profit organization dedicated to good tax policy education in New Mexico. In that capacity, he is a regular speaker to legislative committees, business groups, trade associations, and he regularly lends his expertise to legislators, their staff, executive agencies, economic development organizations, local governments, and social organizations. Mr. Anklam has over thirty years of state and local tax experience, having led two state and local tax practices for two international accounting and consulting firms, Grant Thornton LLP, and KPMG LLP in their Albuquerque/Phoenix/El Paso offices. He also worked for the New Mexico Taxation and Revenue Department twice, where he most recently served as Assistant Secretary/Director of Tax Policy. Mr. Anklam is a CPA and recently served as chairman of the board of the New Mexico Society of CPAs. Until its legislative reorganization, he also served on the board of New Mexico's healthcare exchange, the New Mexico Healthcare Alliance. Mr. Anklam serves on various other charitable and business related boards and committees, and is a graduate of the University of New Mexico's Anderson School of Management.
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