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INSTRUCTIONS FOR 2010 PIT-RC, SCHEDULE OF NEW MEXICO REBATE AND CREDIT SCHEDULE GENERAL INFORMATION SECTION I The questions in SECTION I must be answered to claim any of the rebates or credits reported.

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New Mexico Governor proposes $750, $1500 tax rebates for 2023.

New Mexico provides a number of tax credits and rebates for New Mexico individual income tax filers. The PIT-RC Rebate and Credit Schedule is a separate schedule to claim refundable credits. The balance of any refundable credits, after paying all taxes due, is refunded to you.

As the bill currently stands, the 2023 rebates would be sent to New Mexicans who filed 2021 taxes (those were the returns due by April 2022), regardless of income.

All New Mexico seniors at least 65 years old may claim a special exemption.

It would give $750 to single tax filers and $1,500 to married individuals filing joint returns, heads of households, and surviving spouses. The rebates would be based on 2021 returns, rather than 2022 returns to make processing faster.

As the bill currently stands, the 2023 rebates would be sent to New Mexicans who filed 2021 taxes (those were the returns due by April 2022), regardless of income.

This rebate is for property tax billed or rent paid during tax year 2022 on your principal place of residence in New Mexico. The property tax rebate cannot exceed $250 or, for a married taxpayer filing a separate return, the rebate cannot exceed $125.

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