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RPD41299 Int. 07/2005 New Mexico Taxation and Revenue Department GROSS RECEIPTS TAX HOLIDAY WHO MUST FILE THIS FORM. Taxpayers reporting the deduction from gross receipts tax for the Gross Receipts

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What is gross receipts tax holiday?

The gross receipts tax holiday is a period of time during which certain businesses are exempt from paying taxes on their gross receipts.

Who is required to file gross receipts tax holiday?

Businesses that meet specific criteria, such as being in a certain industry or having a certain level of gross receipts, are required to file for the gross receipts tax holiday exemption.

How to fill out gross receipts tax holiday?

To fill out the gross receipts tax holiday, businesses need to provide information about their gross receipts during the specified tax holiday period and demonstrate that they meet the eligibility criteria.

What is the purpose of gross receipts tax holiday?

The purpose of the gross receipts tax holiday is to provide temporary tax relief to certain businesses, encouraging economic growth and stimulating the economy.

What information must be reported on gross receipts tax holiday?

On the gross receipts tax holiday, businesses must report their total gross receipts during the tax holiday period and provide supporting documentation to demonstrate their eligibility for the exemption.

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