N.M. Code R. § 3.2.2.14 – Accrual and Cash Basis Reporting

A. Cash basis taxpayers report as gross receipts or governmental gross receipts all cash and other consideration received during the tax reporting period.
B. Accrual basis taxpayers report as gross receipts or governmental gross receipts amounts of sales, including cash and charge sales, made during the tax reporting period.
[1/21/85, 4/2/86, 11/26/90, 6/28/91, 11/15/96; 3.2.2.14 NMAC - Rn, 3 NMAC 2.11.14, 4/30/01]