New Mexico – New business tax filing system launches in July

The redesign of the Taxation and Revenue Department’s business tax filing system will launch in July with new forms for businesses that are tailored to the particular tax programs that apply to them. Also coming in July will be a Continue reading New Mexico – New business tax filing system launches in July

New Mexico – New laws clarify and update New Mexico tax code

New Mexico Taxation and Revenue Secretary Stephanie Schardin Clarke applauded the Legislature’s passage of several bills recently signed into law by Gov. Michelle Lujan Grisham that clarify and update the state’s tax codes. House Bill 98, which was introduced on Continue reading New Mexico – New laws clarify and update New Mexico tax code

New Mexico – Payment deadlines approaching for 2020 tax relief

The Taxation and Revenue Department is reminding taxpayers that payment deadlines are approaching for taxpayers who took advantage of payment extensions granted in 2020. The payment deadline to avoid penalties and interest on 2019 Personal, Corporate and fiduciary income tax Continue reading New Mexico – Payment deadlines approaching for 2020 tax relief

New Mexico – Hearing scheduled April 29 on new Gross Receipts Tax regulations

The New Mexico Taxation and Revenue Department will hold a public hearing April 29 on proposed new regulations governing how businesses report their Gross Receipts Taxes. The proposed regulations are needed to administer changes mandated by a 2019 law. Starting Continue reading New Mexico – Hearing scheduled April 29 on new Gross Receipts Tax regulations

New Mexico – Guidance on $600 Income Tax Rebates

Certain taxpayers who qualify for the New Mexico Working Families Tax Credit will also be eligible for the extra $600 Personal Income Tax rebate recently signed into law by Gov. Michelle Lujan Grisham. The rebates are available to taxpayers who Continue reading New Mexico – Guidance on $600 Income Tax Rebates

New Mexico – Tax Workshops open for registration and available on YouTube

The New Mexico Taxation and Revenue Department will present its tax workshop for new businesses online Tuesday, Feb. 23 from 9:45 a.m. to 11 a.m. and its workshop for new employers from 11 a.m. to noon. Following those workshops, the Continue reading New Mexico – Tax Workshops open for registration and available on YouTube

New Mexico – Taxation and Revenue responds to pandemic, budget challenges

Modified enforcement, improvements to customer service and technology The New Mexico Taxation and Revenue Department is continuing to find ways to improve its service to New Mexicans amid the challenges imposed by the COVID-19 pandemic. Cabinet Secretary Stephanie Schardin Clarke Continue reading New Mexico – Taxation and Revenue responds to pandemic, budget challenges

New Mexico – Albuquerque offices move to new location Nov. 16

The Albuquerque offices of the New Mexico Taxation and Revenue Department will move into new space at the Copper Pointe office complex near I-40 and Eubank on Nov. 16. The Department’s current lease at the Bank of the West Building Continue reading New Mexico – Albuquerque offices move to new location Nov. 16

New Mexico – Delivered groceries may not be taxable

The New Mexico Taxation and Revenue Department has issued new guidance on when grocery deliveries may be subject to gross receipts taxes. Receipts from food sold at a retail food store can be deducted by grocers when filing their gross Continue reading New Mexico – Delivered groceries may not be taxable

NEW MEXICO – Mulls State-Run Pot Shops, Subsidized Medical Use

The idea for state-run pot shops comes from a trio of GOP state senators who broke with local Republican Party orthodoxy to embrace legal marijuana with a decidedly big-government approach that would have the state directly oversee most sales — Continue reading NEW MEXICO – Mulls State-Run Pot Shops, Subsidized Medical Use