Effective July 1, 2023, New Mexico’s state-level gross receipts tax rate is reduced from 5% to 4.875%. The rate decrease is a result of legislation enacted by Gov. Michelle Lujan Grisham in 2022. The state-level gross receipts tax rate had previously been reduced from 5.125% to 5% on July 1, 2022. (Release, New Mexico Department of Taxation and Revenue, June 27, 2023)