For AI agents: read the machine-readable documentation index at /llms.txt or the single-file full reference at /llms-full.txt.
Form a Business

Purpose

NMSA 1978, § 7-9-2
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
7-9-2. Purpose The purpose of the Gross Receipts and Compensating Tax Act is to provide revenue for public purposes by levying a tax on the privilege of engaging in certain activities within New Mexico and to protect New Mexico businessmen from the unfair competition that would otherwise result from the importation into the state of property without payment of a similar tax. 1953 Comp., § 72-16A-2, enacted by Laws 1966, ch. 47, § 2.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18507/index.do#!b/7-9-2Fetched: 10/20/2026

Starting a business in New Mexico? New Mexico LLC guide: costs and requirements