New Mexico Tax Department Issues Bulletin Updating Requirements for Use of Special Payment Methods

The New Mexico Taxation and Revenue Department issued a bulletin announcing updates to the requirements for the state’s largest taxpayers to use specific payment methods, called special payment methods, when remitting tax payments. The updated rules require all taxpayers whose average monthly tax liability for the previous year exceeded $25,000 to use any of the special payment methods. The special payment methods include Automated Clearing House (ACH) deposits, Fedwire transfers, checks from in-state or out-of-state banks with certain advance receipt timelines, and online electronic payments. [N.M. Tax’n & Revenue Dep’t, Bulletin FYI-401, 02/01/25]

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