New Mexico Municipal League - Serving the Municipalities ...
NMML GRT Calculator InstructionsThis GRT calculator was created by the New Mexico Municipal League to assist its members with calculating the impact of the COVID-19 Pandemic on gross receipts taxes. Located below are instructions for the “NMML GRT Calculator” excel workbook. Please do not hesitate to contact us if there are any questions.Step 1: Visit to access the RP-500 report which provides valuable economic activity data.Step 2: On the following screen, identify distribution month that you want to analyze, distribution month February 2019 has been selected. To download this file, select the RP500 link in the green box, the download should be generated.Step 3: For the tab portion of the downloaded file, which is located towards the bottom of the spreadsheet, select “Industry”: Step 4: Search the file for your local government, in this example Albuquerque has been selected (the search function is ctrl+f):Step 5: Open the NMML Impact Model Excel, the first industry listed is as “Ag”:Step 6: Select the total amount for matched taxable gross receipts and agriculture:Step 7: Enter this figure into cell B5 of the model. Step 8: Notice that the mining, oil, and gas sector are excluded from these calculations as those impacts are separate from the Covid-19 impact.Step 9: Check your local government’s increment rate on the Taxation and Revenue Department’s website located here: select the most recent enactment table to download. Please note that although the picture below has highlighted the January 2020 Enactment Table, choose the file named July 2020 Enactment Table.Step 10: In this example we will look up Albuquerque’s current city-imposed rate, 1.5625%.271462450165000 Step 11: Insert the city-imposed rate into the “Increment%” column (column C) Step 12: A formula in excel will generate column E and column G, Column F are the assumed level of activity that continues through a stay-at-home order.Step 13: Repeat steps 6 to 7 until all industries are completedStep 14: Cell E25 will demonstrate the total revenue for all industries that would have been generated without the impact of a covid-19 stay-at-home order, and Cell G25 will demonstrate the revenue that would be generated with the covid-19 stay-at-home order. Step 15: The total amount of revenue lost due to the covid-19 stay-at-home provisions will be demonstrated in the bottom of the worksheet (These figures are for visual representation purposes and are in no way representative of any local governments lost revenue or percentage of lost revenue). ................
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