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Employers must register with the Taxation and Revenue Department in order to file.<\/p>\n
For more information on registering a business see Who must register a business?<\/strong><\/a><\/p>\n Employers must withhold a part of the employee\u2019s wages for payment of income tax. New Mexico bases its withholding tax on an estimate of an employee\u2019s State income tax liability. The State credits taxes withheld against the employee\u2019s actual income tax liability on the New Mexico personal income tax return. State withholding tax is like federal withholding tax. <\/em>Wage withholding is filed Form TRD-41414<\/strong>, Wage-withholding Tax Return<\/em> located below.<\/p>\n An employer who withholds a portion of an employee\u2019s wages for payment of federal income tax must withhold state income tax. This includes employers of some agricultural workers. There is a limited exception for certain non-resident employees; income earned from active-duty military service; and income wholly earned by a Native American member of a New Mexico federally recognized Indian nation, tribe or pueblo on the lands of the nation, tribe or pueblo where the individual is enrolled and lives.<\/p>\n Definitions to be aware of:<\/p>\n The amount of tax withheld may vary depending on how many allowances an employee claims on the federal W-4 form and how often wages are paid. Employers should refer to the New Mexico State Wage Withholding Tax Rates<\/strong><\/a> to determine the proper amount to withhold.<\/p>\n Income and withholding information returns are generally required to be reported to the New Mexico Taxation and Revenue Department (Department) by the last day of February. For more information, see the WWT forms below or the FYI-330 Income and Withholding Information Returns and Filing Methods<\/strong><\/a>.<\/p>\n The non-wage withholding tax return is for individuals who withhold New Mexico withholding tax from payments for pensions and annuities, gambling winnings, or some other purpose that does not include wages paid to employees. Non-wage withholding is filed on Form TRD-41409<\/strong>, None-Wage-withholding Tax Return<\/em> located below.<\/p>\n Every employer who elects or is required to be covered by the Workers\u2019 Compensation Act, and every employee covered by the Workers\u2019 Compensation Act, is assessed a fee for funding the administration of the Workers\u2019 Compensation Administration (Section 52-5-19 NMSA 1978<\/strong><\/a>). The Taxation and Revenue Department collects the fee paid using the Form TRD-41431<\/strong>, Workers\u2019 Compensation Fee Return and Employees\u2019 Quarterly Wage and Withholding Report<\/em>.<\/p>\n Any additional questions can be answered by the Workers\u2019 Compensation Administration<\/a><\/strong>.<\/p>\nWithholding<\/strong><\/h3>\n
Who Must Withhold<\/strong><\/h3>\n
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Amount to Withhold<\/strong><\/h3>\n
Reporting Tax Withheld<\/strong><\/h3>\n
Non-Wage Withholding<\/strong><\/h3>\n
Workers\u2019 Compensation<\/strong><\/h3>\n