New Mexico Tax Department Publishes Revised Guidance on Income, Withholding Information Tax Returns, Filing Methods

The New Mexico Taxation and Revenue Department (TRD) Feb. 1 published revised guidance detailing requirements for filing annual income and withholding statements electronically or by paper, for individual income and corporate income tax purposes. The guidance outlines obligations for employers, payers, remitters of oil and gas proceeds, pass-through entities, and gambling establishment operators. Businesses responsible for withholding income tax for individuals must file annual income and withholding statements for each individual. The TRD issues information on: 1) utilizing Taxpayer Access Point or the Combined Federal or State Filing Program for filing statements; 2) providing due dates for withholding statements for ...