New Mexico has a state income tax, so tax time here means two returns — your federal return and your New Mexico return. Compass Tax Center handles both, personally, year-round, and 100% virtually. From Albuquerque to Las Cruces to the Four Corners, we're a secure upload and a phone call away.
A federal return and a New Mexico return, prepared together so they agree and you claim every credit you're owed. New Mexico works a little differently — a gross receipts tax instead of a normal sales tax, and a Social Security break for many retirees.
Two returns instead of one means more to keep straight. We handle the whole picture, federal and state, and we're here after April, too.
Instead of a normal sales tax, New Mexico charges a gross receipts tax that falls on businesses — including many services and freelancers, not just retail. It often gets passed along to customers, but the legal responsibility sits with the business, which surprises a lot of new business owners.
If you're self-employed or run a business here, this matters. We help you handle gross receipts tax correctly alongside your income-tax returns — and make sure retirees get the Social Security break New Mexico now offers.
New Mexico's income tax is the main event, but its gross receipts tax works unlike a normal sales tax. If any of these are you, they're firmly in our wheelhouse.
You don't need a tax office down the road — you need the right person handling both your returns. Everything we do is secure and fully virtual, so working with us is exactly as easy from Taos as it is from Albuquerque. And since we serve all 50 states, if life moves you out of New Mexico, your tax help doesn't have to change.
Start now or book a free consultation. We're here year-round — for tax season and everything after it.