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Your gross revenue tax (GRT)
In a real estate transaction what is New Mexico’s “Gross Revenue Tax" (GRT), how much is it, and who pays it?
Think of the GRT as New Mexico’s sales tax on services. The percentage varies from county to county but it’s usually a 7-8% tax on the commission you pay. So with Atomic's lower commission you pay a lower tax as well. At closing it is added to the sales commission and Atomic pays it to the state of New Mexico. Generally, this is paid by the seller.