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New Mexico Form 1040: What You Should Know
Department of the Treasury Aug 22, 2024 — New Mexico State Department of Revenue. Department of Workforce Solutions · Employment Services. New Mexico Employment Services Agency. Department of the Treasury Aug 22, 2024 — New Mexico State Bureau of Investigation. Department of the Treasury. Mar 8, 2024 — New Mexico State Board of Equalization. New Mexico Income Tax Law You are required by law to pay New Mexico income taxes each year. You are required to file a New Mexico individual income tax return to report and pay personal income tax. There are a variety of forms that you can use to report and pay personal income tax in New Mexico, plus some additional forms you may be required to provide (for example, a certificate of loss of job, wage stubs, copies of certain tax forms, or copies of documents related to an estate, estate planning, or income tax return). The law allows the Bureau of Investigation to review, audit, and require returns and returns from individuals, partnerships, corporations and trusts when necessary to ensure their compliance with the tax laws. You are also required to return any New Mexico income tax due, unless exempt, to the Division for the Review and Audits of New Mexico Taxes by the due date stated on the return. New Mexico Income Tax Return 2018 All of your New Mexico personal income tax returns must be filed through Form 8888, New Mexico Individual Income Tax Return. New Mexico Individual Income Tax Returns — 1040.com Sep 25, 2024 — New Mexico — Individual Income Tax Returns for 2024 You must file a New Mexico individual income tax return if you were an owner of a qualifying business at any time during the tax year. The qualifying time is when you: owned more than 10% of the business when it was established, or you received more than half of all your compensation from the business. If you do not have an owner-employer relationship with a business at any time during the year, you may complete a form NL-2, Notice of No Self-Employment Status to Report. If you do not have any self-employment income, and you do not pay income taxes, you may use Form NL-1, Notice to Self-Employed Persons. If you are a business owned by a person, and you pay personal income tax on personal income from the business, use Form PIT-1, New Mexico Personal Income Tax Return.
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