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  • Nm Rpd-41375 2023

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New Mexico Taxation and Revenue DepartmentRPD41375 2023 Rev. 08/24/20232023 New Mexico Net Operating Loss Carryforward Schedule for Fiduciary Income TaxTaxpayers nameFEINPurpose of this Form Use this.

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Complete form RPD-41071, Application for Tax Refund to request a refund. If it appears that the notice is not correct and an overpayment has not been made, or the amount of the overpayment in the notice is not correct, you should follow the instructions on the notice to make the correction.

Many small business owners consider New Mexico among the best U.S. states to form an LLC. It offers limited liability protection and privacy protection and requires no tedious annual report filings. Plus, the state fees for LLC formation are among the lowest. However, most of these benefits apply only to domestic LLCs.

Effective July 1, 2021, the Combined Reporting System (CRS) number will be referred to as the New Mexico Business Tax Identification Number (NMBTIN). Many of the documents have been updated to reflect this change. Note: This is the same 11-digit tax identification number.

If you are doing business within New Mexico, the state levies a tax on LLCs for the privilege of doing business. You can expect to pay a franchise tax when you own and operate a business within New Mexico. This franchise tax is a yearly fee of $50.

So, the LLC doesn't pay taxes but the LLC's owners (members) pay and report taxes on their share of the income on their individual returns. New Mexico requires pass-through entities to file an informational income tax return with the TRD. The return is due by the due date of your federal return for your tax year.

The tax is imposed on the gross receipts of persons who: sell property in New Mexico; property includes real property, tangible personal property, including electricity and manufactured homes, licenses (other than the licenses of copyrights, trademarks or patents) and franchises.

LLCs are considered “pass-through entities,” which means the LLC itself does not pay federal income taxes on business income. Instead, income “passes through” to individual members of the LLC, who pay federal income tax earned from the LLC via their own individual tax returns.

Unlike some states, New Mexico doesn't have an annual fee for LLCs ($0). The only thing you have to pay every year is taxes.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232