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NM Tax & Rev

Posted on 11 December, 2018 at 14:32

Important Reminders For Employers: 

New Mexico bases its withholding tax on an estimate of an employee’s income tax liability. Employers are required to report and pay withholding taxes to the New Mexico Taxation and Revenue Department (the Department) on their CRS-1 returns. 

Additionally, Annual statements of income and withholding (W-2’s and 1099’s) are required to be reported to the Department by the last day of February. Starting tax year 2019, the Department will be requiring electronic submittal of the annual withholding statements if you have more than 25 employees. The electronic submission will be due at the end of January. In preparation for this transition, the Department will be accepting electronic submissions starting January 5, 2019 for the 2018 tax year via the Taxpayer Access Point (TAP) https://tap.state.nm.us. 

The link below for the Department’s publication FYI-330, describes all the requirements, due dates and filing methods available. 


TAP Technical Assistance 
New Mexico Taxation & Revenue Department 

Categories: Accounting, Bookkeeping, Quickbooks

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Reply Useless Websites
8:09 on 9 February, 2020 
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