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    • Gross Receipts
      • Overview
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      • Overview
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      • Overview
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    • Overview
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      • About the Bureau
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      • County Evaluations
      • Sales Ratio Study
      • Useful Links
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      • Delinquent Property Tax Auctions
      • Active Property Tax Installments By County
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Businesses Sidebar

Tax Policy Advisory Committee meets Wednesday

10/5/2020

B-200.34 – Delivered Groceries

9/2/2020

Delivered groceries may not be taxable

9/2/2020

TRD Audit and Compliance Division to start outbound calling

8/25/2020

Changes Coming to Combined Reporting System

8/24/2020

Back-to-School Tax Holiday is this weekend

8/04/2020

Modified enforcement extended through August

7/30/2020

July new business workshop to be presented online

7/27/2020

New multi-year tax forms available

7/24/2020

Hearing scheduled on new rules for New Mexico driver’s licenses

7/21/2020

Filing Requirements

Corporate Income and Franchise Tax Return Filing

If you are a business, you must annually file Form CIT-1, New Mexico Corporate Income and Franchise Tax Return. The return is due on the 15th day of the fourth month following the close of the tax year.

Fiscal year and short year returns must be filed using the form for the tax year in which the fiscal or short year begins. For example, use a 2010 return for fiscal years or short years beginning in 2010, even if the fiscal year or short year ends in 2011.

If your business does not file a federal Corporate Income Tax Return, New Mexico may require you to file one of the following forms instead:

  • New Mexico Income and Information Return for Pass-Through Entities (PTE);
  • New Mexico Personal Income Tax Return (PIT-1), or
  • New Mexico Fiduciary Income Tax Return (FID-1).

Links

FYI-106: Claiming Business-Related Tax Credits for Individuals and Businesses
FYI-350: Corporate Income Tax and Corporate Franchise Tax

Corporate Income Tax Forms

Latest News

Changes Coming to Combined Reporting System

Back-to-School Tax Holiday is this weekend

Modified enforcement extended through August

July new business workshop to be presented online

New multi-year tax forms available

Hearing scheduled on new rules for New Mexico driver’s licenses

Tax Policy Advisory Committee meets Wednesday

Delivered Groceries

Delivered groceries may not be taxable

TRD Audit and Compliance Division to start outbound calling

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