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New Mexico tax bonds.
From $100.

The New Mexico Taxation and Revenue Department can require this bond to secure tax it collects. The most common version is the out-of-state contractor gross-receipts tax bond under NMSA 7-1-55, sized to the tax on a construction contract. The premium is 1% of the bond amount, $100 minimum.

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Required of an out-of-state prime construction contractor under NMSA 7-1-55, or where the Department asks for tax security

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Amount equals the gross receipts under the contract × the applicable GRT rate — it tracks the tax at risk

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From $100 — enter the required amount and see your exact price in the application

1% of bond amount$100 minimumInstantapproval for mostNo SSNin the application

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How it works

Three steps. One sitting.

No underwriting queue for the standard tax bond — enter your amount, pay, and file with Taxation and Revenue. Here is the whole thing:

TODAY · ONLINE

Apply online

Your business details, the bond amount the Department or contract required, and the effective date — that is the entire application.

INSTANTLY

Issued on the spot

The application collects no credit information — no waiting on a pull. The executed bond is generated as soon as you pay. Larger amounts may get a quick review.

SAME DAY

File with Taxation and Revenue

Submit the executed bond to the Taxation and Revenue Department to secure the tax. Wet-ink originals mailed whenever the Department insists.

About this bond

What it is and who needs it.

What the tax bond actually covers

New Mexico's gross receipts tax (GRT) applies to most business done in the state. For an out-of-state contractor with no principal place of business in New Mexico taking a prime construction contract, NMSA 7-1-55 requires a surety bond — or other acceptable security — to secure the GRT on that contract.

The bond amount equals the gross receipts to be paid under the contract multiplied by the applicable GRT rate (state plus any local-option rates). If the contract value changes by 10% or more after the bond is filed, the contractor must adjust the bond within 14 days.

More broadly, the Taxation and Revenue Department can require a tax bond as security in other situations. The bond stands behind the tax you owe — if you fail to remit, the Department can recover against it. Enter the amount required — pricing starts from $100, and the application collects no credit information.

NMSA 1978, § 7-1-55 (Contractor's GRT bond)NMSA 1978, Section 7-1-55 requires an out-of-state contractor with no principal place of business in New Mexico, on entering a prime construction contract performed in the state, to furnish the Department a surety bond (or other acceptable security) equal to the contract gross receipts times the applicable gross receipts tax rate, including local-option rates, to secure the tax. If the contract sum changes by 10% or more, the bond must be adjusted within 14 days. Confirm the required amount on your Department notice.

You need this bond if you are

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An out-of-state contractor taking a prime construction contract performed in New Mexico

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Asked by Taxation and Revenue to post security for gross receipts or other tax

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Adjusting a bond after a contract value changed by 10% or more

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Bidding NM public or private work that conditions award on the GRT bond

One application, issued on the spot.

Submit the application with the bond amount the Department or your contract requires — the executed bond is generated instantly, ready to file.

Start the application →

FAQ

Common questions.

How much is the New Mexico tax bond?The premium is 1% of the bond amount, $100 minimum. For an out-of-state contractor the amount equals the contract gross receipts times the applicable GRT rate. Enter that figure to see your exact price.

Who has to file the contractor tax bond?Under NMSA 7-1-55, an out-of-state contractor with no principal place of business in New Mexico who enters a prime construction contract performed in the state. The bond secures the gross receipts tax on that contract.

What if my contract amount changes?If the total to be paid under the contract changes by 10% or more after you file the bond, you must increase or decrease the bond within 14 days. Send us the new contract value and we re-issue.

Is there a credit check?The application collects no credit information, so most applications approve instantly. Larger bond amounts may get a quick soft-pull review — never a hard inquiry, no impact on your credit score.

Can I post cash instead?NMSA 7-1-55 allows a surety bond or other acceptable security. A surety bond is usually cheaper — you pay a small premium rather than tying up the full tax amount in cash.

Which A-rated carriers underwrite these bonds?Typically Arch Insurance Company (A.M. Best A+) or Nationwide Mutual Insurance Company (A.M. Best A). Which one writes your bond depends on the bond type and your state. The carrier's name and official signature are printed on the bond you receive.

How do I contact Light RFP about this bond?Email insurance@lightrfp.com. It reaches the bond team at Light RFP Risk Management Services LLC (NY DFS License # PC-1978982). Write to us about quotes, applications, bond forms or certificates. We will respond within 24 hours.

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Other New Mexico bonds.

Tax bond, issued today.

Pricing from $100. Enter the amount to be secured and file the same day.

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