Ithhold a portion of New Mexico income tax from salaries or wages, from pension or annuity income, or from gambling winnings, may use Form RPD-41072, Annual Summary of Withholding Tax, to reconcile the total amounts shown as withheld on annual statement of withholding information returns furnished to withholdees (Federal Forms W-2, W-2G or 1099R) with the total tax withheld and paid to New Mexico on the CRS-1, Wage Withholding, and/or Non-wage Withholding Tax returns. Do not include tax withheld.
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How to fill out the NM TRD RPD-41072_DSA online
The NM TRD RPD-41072_DSA, or Annual Summary of Withholding Tax form, is an essential document for employers and payers to reconcile income tax withheld from various sources. This guide will provide clear, step-by-step instructions on how to accurately complete the form online.
Follow the steps to fill out the NM TRD RPD-41072_DSA online.
- Click ‘Get Form’ button to obtain the NM TRD RPD-41072_DSA and open it in the editor.
- In Part I, enter your business information, including your NMBTIN, the reporting year, business name, address, and city, state, ZIP code.
- Select your filing frequency by checking the appropriate box for monthly, quarterly, or semiannually.
- In Part II, for each month of the reporting year, input the amounts of New Mexico income tax withheld and reported. Ensure the reporting month corresponds to when taxes were withheld.
- At the end of Part II, calculate the total amount withheld for the year and enter it in the designated total field.
- In Part III, complete the qualifying information section by entering the number of annual statements submitted, the total New Mexico income tax withheld for the taxable year, and the total tax withheld that was reported.
- Subtract the total reported from the total withheld in Part III, line 2, and enter the difference in line 4.
- In Part IV, sign and date the form acknowledging that the information provided is true and complete.
- If applicable, prepare and attach any required documents before finalizing the form.
- Save any changes, and then download, print, or share the completed form as needed.
Start completing your NM TRD RPD-41072_DSA online now.
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Get answers to your most pressing questions about US Legal Forms API.
What is the state tax withholding in New Mexico?
Single Tax Withholding Table If the Amount of Taxable Income Is:The Amount of Tax Withholding Should Be:Over $6,475 but not over $11,975$0.00 plus 1.7% of excess over $6,475Over $11,975 but not over $17,475$93.50 plus 3.2% of excess over $11,975Over $17,475 but not over $22,475$269.50 plus 4.7% of excess over $17,4757 more rows • Mar 30, 2022
What is nm rpd 41072?
New Mexico W-2 State Filing Requirements Form W-2 - Wage and Tax Statements. Form RPD-41072 - Annual Summary of Withholding Tax.
What is NM payroll tax?
New Mexico's SUI rates range from 0.33% to 6.4%. The taxable wage base in 2023 is $30,100 for each employee, up from $28,700 in 2022.
What is the New Mexico non resident withholding tax?
The State of New Mexico requires pass-through entities (which may be a state law partnership or a limited liability company taxed as a partnership) to withhold tax at 5.9% on earnings of non-resident partners or members if the owner's distributive share of net income is over $100 in a year.
What is the phone number for the IRS in New Mexico?
The Division provides customer services through the Call Center (1-866-285-2996) and at district offices in Albuquerque, Santa Fe, Las Cruces, Roswell and Farmington.
What is NM withholding?
Employers must withhold a part of the employee's wages for payment of income tax. New Mexico bases its withholding tax on an estimate of an employee's State income tax liability. The State credits taxes withheld against the employee's actual income tax liability on the New Mexico personal income tax return.
Where is my NM gas rebate?
So, if you haven't received a rebate from last year, you should contact the Taxation and Revenue Department. You can check the status of your tax returns by logging on to the state's Taxpayer Access Point at tap.state.nm.us. And you can call 1-866-285-2996 if you still have not received any of the rebates.
What withholding status should I use?
Single: W-4 Single status should be used if you are not married and have no dependents. Married: W-4 married status should be used if you are married and are filing jointly.
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