Trucking companies that meet the de minimis nexus standard must file the appropriate tax returns with New Mexico. If the trucking company is a C-corporation, it files a CIT return and apportions income to New Mexico based on the regulation for calculating payroll, property and sales factors. It is also subject to corporate income tax and corporate franchise tax. If the trucking company is an S-corporation or a partnership, it files a New Mexico Pass-Through Entity (PTE) return. Withholding tax for non-resident shareholders is required unless there is a Non-Resident Owner Income Tax Agreement (PTE-TA) on file releasing the S-corporation from its withholding obligation. New Mexico resident shareholders file New Mexico PIT returns and apportion income to New Mexico based on the trucking company regulation. Only S-corporations are subject to the corporate franchise tax. An interstate motor carrier having nexus with New Mexico is required to file CRS-1 Forms to report its gross receipts from services performed in this state, even though its receipts may be deductible under interstate commerce. To file CRS-1 Forms, a business must obtain a New Mexico CRS identification number.