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The New Mexico Taxation and Revenue Department suspended its in-person workshops in March in response to the public health emergency. The Department resumed tax workshops for New Businesses and now New Employers in a virtual format using the Zoom online meeting platform. Participants will be able to direct their questions via New.Businesses@state.nm.us which will be posted during the presentation.
New Business Workshop
The New Business Workshop presented by NM Taxation & Revenue is a comprehensive look at the Combined Reporting System (CRS) for Gross Receipts, Withholding and Compensating Tax programs. It covers such topics as Non-Taxable Transaction Certificates, Estimated income tax payments for business owners, deductions and exemptions from Gross Receipts, special tax programs and audits. We also present e-file training.
New Business Workshop Presentation
Registration is available using this link: https://zoom.us/meeting/register/tJIpdOyhpjovEtH9XNMhIxRXzjup9J2T9ocz
A recording of the workshop can be found on the Department’s YouTube channel here
New Employers Workshop
The New Employers Workshop will provide the new employer with training in computing and reporting withholding taxes for New Mexico employees. It covers calculating and filing of NM Withholding, and using NM Taxpayer Access Point (TAP) to file and pay.
New Employers Workshop Presentation
Registration is available using this link: https://zoom.us/meeting/register/tJcodumprDopE9zwblSAy8BUBIhcl4ERdaeI
Below is a list of Dates and Time for New Businesses and New Employers workshops:
|New Businesses||New Employers|
|September 8, 2020||10:00 am||11:00am|
|September 22, 2020||10:00 am||11:00am|
|October 6, 2020||10:00 am||11:00am|
|October 20, 2020||10:00 am||11:00am|
|November 3, 2020||10:00 am||11:00am|
|November 17, 2020||10:00 am||11:00am|
|December 1, 2020||10:00 am||11:00am|
|December 15, 2020||10:00 am||11:00am|
|December 29, 2020||10:00 am||11:00am|
|January 12, 2021||10:00 am||11:00am|
|January 26, 2021||10:00 am||11:00am|
|February 9, 2021||10:00 am||11:00am|
|February 23, 2021||10:00 am||11:00am|
|March 9, 2021||10:00 am||11:00am|
|March 23, 2021||10:00 am||11:00am|
|April 6, 2021||10:00 am||11:00am|
|April 20, 2021||10:00 am||11:00am|
|May 4, 2021||10:00 am||11:00am|
|May 18, 2021||10:00 am||11:00am|
|June 1, 2021||10:00 am||11:00am|
Following the NM Taxation and Revenue Department workshops, the IRS will conduct new businesses workshops beginning at 1:00pm.
The IRS New Business Workshop provides important tax information to people starting a new business, particularly those who have spent their working careers as W-2 employees. Topics of special interest to those who will be classified as self-employed include recordkeeping requirements, self-employment tax & requirements to prepay taxes & deductions, also referred to as estimated taxes.
These workshops are presented on behalf of the IRS by CPAs, Enrolled Agents and experienced tax accountants who volunteer their time and knowledge to help inform new business owners of their federal tax responsibilities.
Course Agenda as follows:
- Retaining Tax Records
- Record Keeping
- Self-employment tax
- Estimated taxes
- Employee or Independent Contractor?
Registration is available using this link:https://zoom.us/meeting/register/tJcod-ihqjIvHtSsCYAYrJITUcBD9C3M3zEz