CRS Redesign Project FAQs
I usually file a return only to report my gross receipts and pay the Gross Receipts Tax. Will I have to fill out all those other forms?
Taxpayers will only have to fill out returns for the tax programs that apply to them. So, if you only report under the Gross Receipts Tax, that is the only return you will need to file. The Department will have separate returns for Gross Receipts Tax, Governmental...
Why are you redesigning the Combined Reporting System?
The original idea behind the Combined Reporting System (CRS) was to simplify the filing of business-related tax returns. In practice, it has too often required taxpayers to submit “supplemental” or amended returns and manual intervention by the Department to correct...
What will the new filing system look like?
Taxpayers will have separate, targeted returns for General Gross Receipts Tax; Governmental Gross Receipts Tax; Leased Vehicle Surcharge and Gross Receipts Tax; Wage Withholding Tax; Non-Wage Withholding Tax; Compensating Tax (with state and local options filed on one...
If each of these programs require a separate return, won’t that mean more work for taxpayers?
The goal is to ask taxpayers to enter the same or less data and decrease the overall time to report for most taxpayers. Of the tax programs contained within CRS today, the vast majority of taxpayers file only GRT or only GRT and Wage Withholding tax. About half of...
When will the new filing system start?
Taxpayers will begin filing using the new returns in July 2021. It is important to note that new destination-based sourcing required under state law begins July 1, 2021, which will impact return filing beginning in August 2021. back to list
What is destination-based sourcing?
Most businesses today report Gross Receipts Tax using the rate in effect at their place of business, though there are exceptions, such as in the construction industry. Out-of-state remote sellers now pay only the statewide rate of 5.25%. Under destination-based...
I need to use my CRS number for a variety of reporting requirements in addition to filing my taxes. Will I have to get a new one?
Current taxpayers will continue to use the number they have now, but it will be renamed the Business Tax Identification Number (BTIN). The Department will reach out to other state and local government agencies to inform them of the name change. back to list
Will this do anything to make it easier to get a refund?
Improvements are being made to the Taxpayer Access Point will make filing amended returns and refund requests simpler and clearer. Often, taxpayers are unaware that in addition to filing an amended return or multiple amended returns, they must also submit a request...
Will I get to see the new forms before I need to start using them to file?
Yes. The Department will have webinars and other training opportunities available beginning early in 2021. Webinars will be recorded and posted on the Department YouTube channel, New Mexico Taxation and Revenue. back to list
What changes are you making to the Taxpayer Access Point (TAP)?
We are deploying leading edge technology to create a more intuitive, user-friendly filing experience. In the new version of TAP, there will be an “Action Center” that will provide reminders and help guide users through their filing and payment transactions. The new...