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Category: New Mexico
23 Articles
Orange arrow New Mexico Tax Due

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  Make payment online Follow this link to make payment online at the state website: https://tap.state.nm.us/tap/_/ Mailing a Payment and Voucher Do the following when mailing any payment by check or money order: • Make it payable to New Mexico Taxation and Revenue Department • Write yo...
Posted in: States, New Mexico

Orange arrow Part-Year Resident

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  • Resident. New Mexico full-year residents and individuals who were physically present in New Mexico for 185 days or more during the tax year, but were not first-year residents or certain military servicemembers and their qualifying spouses. • First-Year Resident. If you moved into New...
Posted in: States, New Mexico

Orange arrow How do I know if I am required to file a New Mexico tax return?

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  Who is required to file? Two situations require you to file personal income tax returns in New Mexico: 1. If you are required to file a federal tax return with the IRS and you are a New Mexico resident, you must file a state income tax return. 2. If you are required to file a federal income t...
Posted in: States, New Mexico

Orange arrow Can my New Mexico state refund be seized to pay off outstanding debts?

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  COLLECTION OF DEBTS FROM YOUR REFUND If you owe other taxes to the Department, the Department keeps all or part of your overpayment. The Department applies that amount to your liability. By law, the Department is required to transfer all or part of your overpayment to certain claimant agencies if...
Posted in: States, New Mexico

Orange arrow New Mexico Rural Job Tax Credit

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  Rural Job Tax Credit. A Rural Job Tax Credit is available for employers in rural areas of New Mexico who qualify for Job Training Incentive Program assistance. Eligible employers may earn the rural job tax credit for each qualifying job created after July 1, 2000. The employer must certify the wage...
Posted in: States, New Mexico

Orange arrow New Mexico Job Mentorship Tax Credit

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  Job Mentorship Tax Credit. A taxpayer owning a New Mexico business may claim a Job Mentorship Tax Credit for employing qualified students who take part in a career preparation education program. The credit equals 50% of gross wages paid to a maximum of ten qualified students. The business must empl...
Posted in: States, New Mexico

Orange arrow New Mexico Technology Jobs Tax Credit

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  Technology Jobs and Research and Development Tax Credit. This credit is 5% of qualified expenditures for conducting research and development. An additional 5% credit is available if the taxpayer increases its annual payroll by at least $75,000 for every $1 million in qualified expenditures it claim...
Posted in: States, New Mexico

Orange arrow New Mexico Credit for Electronic Identification Card Reader

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  Credit for Electronic Card-Reading Equipment. New Mexico has a one-time income tax credit for businesses that purchase electronic identification card-readers for age verification. A business may claim this credit on a New Mexico personal income tax return or corporate income and franchise tax retur...
Posted in: States, New Mexico

Orange arrow New Mexico Cultural Properties Preservation Credit

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  Preservation of cultural property credit The credit for preservation of cultural property is 50% of the approved eligible costs of a project for the restoration, rehabilitation, or preservation of cultural property listed on the official New Mexico Register of Cultural Properties, not to exceed $...
Posted in: States, New Mexico

Orange arrow New Mexico Film Production Tax Credit

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  New film production tax credit For film companies that commence principal photography on or after July 1, 2019, a credit is available in an amount equal to 25% of direct production and direct postproduction expenditures made in New Mexico that are subject to taxation and directly attributable to ...
Posted in: States, New Mexico

Orange arrow New Mexico Credit for Taxes Paid to Another State

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  A resident of New Mexico who must pay tax to another state on income that is also taxable in New Mexico may take a credit against New Mexico tax for tax paid to the other state. IMPORTANT: This credit is for tax that another state imposes on any part of income that by law is included in New Mexic...
Posted in: States, New Mexico

Orange arrow New Mexico Child Care Credit

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  New Mexico Child Day Care Credit The child day care credit may not exceed $1,200 or, for a married taxpayer filing a separate return, $600. Married individuals maintaining a household for one or more qualifying dependents, but filing separate returns for a tax year, may each claim only half the...
Posted in: States, New Mexico

Orange arrow New Mexico Medical Care Credit

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  Refundable Medical Care Credit for Persons 65 or Older If you or your spouse are 65 years of age or older, and you paid unreimbursed and uncompensated medical care expenses of $28,000 or more during tax year 2019, you may claim a tax credit of $2,800. The medical care expenses can be for the care...
Posted in: States, New Mexico

Orange arrow New Mexico Los Alamos County and Santa Fe County Property Tax Rebate

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  Additional Low Income Property Tax Rebate for Los Alamos and Santa Fe County Residents Only This low income property tax rebate is for property tax paid during tax year 2019 on your principal place of residence (defined later in this section) in Los Alamos or Santa Fe County. This property tax re...
Posted in: States, New Mexico

Orange arrow New Mexico Property Tax Rebate for Persons 65 or Older

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  Property Tax Rebate for Persons 65 or Older This rebate is for property tax billed or rent paid during tax year 2019 on your principal place of residence in New Mexico. The property tax rebate cannot exceed $250 or, for a married taxpayer filing a separate return, the rebate cannot exceed $125. ...
Posted in: States, New Mexico


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