New Mexico doesn't have a sales tax, but it does have a gross receipts tax which is functionally similar. This tax is the responsibility of the seller, not the buyer. However, in practice, this tax is often passed on to the buyer by the seller.

Important Considerations:

Buying from In-State Dealers: When buying precious metals from a dealer within New Mexico, be sure to inquire about the total tax rate, as it may be included in the price.

Buying from Out-of-State Dealers: Some online dealers located outside of New Mexico may not charge the gross receipts tax. However, you might be liable for a use tax, so it's best to consult a tax professional for clarification.

The state-wide gross receipts tax rate is 5.125%, and with local additions, it can be as high as 8.688%. There are no exemptions for precious metals.