New Mexico Gross Receipts Tax: Fundamentals and Strategies

Agenda / Content Covered

All times are shown in Mountain time

1. OVERVIEW OF GROSS RECEIPTS TAX
   9:00 - 9:45, James Ortiz
   1. Imposition of Gross Receipts Tax
   2. Definition of Gross Receipts
   3. Exemptions
   4. Deductions
   5. Recent Developments
2. GROSS RECEIPTS TAXATION OF MANUFACTURERS
   9:45 - 10:30, James Ortiz
   1. Introduction
   2. Double Tax Potential; Overview of Statutory Scheme
   3. Materials Purchases
   4. Subcontracted (Manufacturing) Services
   5. Other Services
   6. Sales of Manufactured Products by Manufacturer
   7. Sale for Resale
3. GROSS RECEIPTS TAXATION OF SERVICES: ANALYSIS OF RELEVANT STATUTES AND REGULATIONS
   10:45 - 12:00, Vanessa C. Kaczmarek and Zachary L. McCormick
   1. General Rules for Gross Receipts Taxation of Services
   2. Services Performed in State
   3. Services Performed Out of State
   4. Sales of Service for Resale
4. NON-TAXABLE TRANSACTION CERTIFICATES
   1:00 - 1:45, Vanessa C. Kaczmarek and Zachary L. McCormick
5. GROSS RECEIPTS TAXATION OF CONSTRUCTION SERVICES
   1:45 - 2:30, Bobbi Kay Nelson
   1. Introduction
   2. Taxation of Construction Services: Prime Contractors
   3. Taxation of Construction Materials Suppliers
   4. Taxation of Subcontractors
   5. Sale of Service for Resale
   6. Compensating Tax
6. GROSS RECEIPTS SELECTED HEALTH CARE SERVICES
   2:45 - 3:45, Bobbi Kay Nelson
   1. Health Care Service Provided to Medicare Beneficiaries
   2. Sales of Commercial Contract Services and Medicare Part C Services
7. TAX DISPUTES
   3:45 - 4:30, James Ortiz
   1. Generally
   2. Protesting an Assessment
   3. Claims for Refund

Accreditation Details:

VANESSA C. KACZMAREK is an attorney with Modrall Sperling where she focuses her practice in the areas of federal taxation, estate planning, and non-profit law. She has experience with tax matters for a variety of business transactions including forming and liquidating companies, mergers and acquisitions, and real estate deals. Ms. Kaczmarek has experience representing taxpayers in tax controversy matters. She has assisted with the preparation of private letter rulings, and also has experience establishing and representing non-profit organizations. Ms. Kaczmarek earned her undergraduate degree, cum laude, from Smith College and her J.D. degree, magna cum laude, from Brooklyn Law School. She earned her LL.M. degree in taxation from New York University.

ZACHARY L. MCCORMICK is a shareholder with Modrall Sperling where his practice encompasses a wide range of civil litigation, employment law, education law, and appeals (both judicial and administrative.) He has represented private individuals, corporations, school districts, and cities and counties in New Mexico. Mr. McCormick earned his B.A. and M.A. degrees from the University of New Mexico; his Ph.D. degree from Oklahoma State University; and his J.D. degree, summa cum laude, from Southern Methodist University Dedman School of Law. He is admitted to practice in New Mexico, U.S. District Court for the District of New Mexico, U.S. Court of Appeals for the Tenth Circuit, U.S. Court of Federal Claims and the U.S. Tax Court.

BOBBI KAY NELSON is a certified public accountant with Nelson & Company CPA, LLC, and has more than 30 years of public accounting experience. Ms. Nelson brings a unique perspective to helping business owners and entrepreneurs in providing opportunities to capitalize on tax incentives. She has spent years building her skills and credentials in personal and corporate tax compliance, consulting, cost segregation, and audit services. As a former business owner, and through her work with businesses of all sizes, industries, and complexities, Ms. Nelson has become an expert in finding cost savings opportunities for clients. She is a member of the New Mexico Society of CPAs, American Institute of Certified Public Accountants (AICPA), and serves on the local boards of National Association of Industrial and Office Properties (NAIOP), Commercial Real Estate Women (CREW), and Associated General Contractors (AGC). Ms. Nelson holds a B.B.A. degree from the University of New Mexico, and is a certified public accountant certified to practice in New Mexico and Arizona.

JAMES ORTIZ is a SALT senior accountant with REDW CPAs | Business & Financial Advisors. Mr. Ortiz is REDW's sales and use tax expert. With more than eight years of experience focusing exclusively in the state and local tax area, he has dealt with sales and use tax compliance for every state in the U.S. and Canada. In addition to his time working with a multi-national retailer, Mr. Ortiz spent four years working with the New Mexico Taxation & Revenue Department in multiple divisions, including the Audit & Compliance Division, as well as assisting the department in the development of internal policies and procedures for auditing specialty refund claims. He also has experience preparing and providing audit defense for a variety of state and federal tax credit filings and unique property tax situations involving tribal entities and specialty exemptions. Mr. Ortiz earned his B.B.A. degree from the University of New Mexico and his M.S. degree in accountancy from the University of Phoenix.