Show Subnavigation

If I am a grantor trust, do I need to file a fiduciary return?

Generally, grantor trusts are not required to file Form FID-1, New MexicoFiduciary Income Tax Return . However, if a grantor trust has become irrevocable upon the grantor's death, the grantor trust must file a FID-1.  If the grantor trust, including a living trust, distributes taxable New Mexico net income that exceeds $20,000 in a calendar year, the grantor trust must file a FID-1.

A grantor trust is a pass-through entity (PTE) and subject to withholding on New Mexico net income distributed when the income distributed is taxable to the beneficiary. The grantor trust must also file FID-D, An­nual Withholding of Net Income From a Fiduciary Detail Report.

back to list
View Our Most Popular Pages & Services
Latest News:
Governor Susana Martinez

Governor Susana Martinez

Learn more about governor Martinez
Secretary Demesia Padilla

Secretary Demesia Padilla,CPA

Learn more about secretary Padilla

Online Services

Find an Online Service to Serve Your Needs

Taxation and Revenue New Mexico

1100 South St. Francis Drive
Santa Fe, NM 87504
(505) 827-0700

TRD Home          Privacy & Security          Site Policies          Accessibility/Non-Discrimination Statement          
About Us          Contact Us      Site MapLink to New Mexico Tax and Revenue Facebook Page

call us E-Mail Contact Us