New Mexico Supreme Court Ruled That Franchise Fees Paid By New Mexico Franchisees To An Out-of-state Corporation For The Right To Operate Fast Food Restaurants In New Mexico Were Not Subject To New Mexico Gross Receipts Tax
But, legislation was enacted clarifying that receipts from selling property located in New Mexico or licensing property employed in New Mexico are subject to the gross receipts and compensating taxes, effective July 1, 2006.
Source: www.carnahanlaw.com
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