Follow the steps to efficiently complete the NM RPD-41375 form.

1. Click the ‘Get Form’ button to access the NM RPD-41375 form and open it in the online editor.
2. Begin by entering the taxpayer’s name and Federal Employer Identification Number (FEIN) at the top of the form. This information is vital for identification purposes.
3. In 'Column 1', indicate the tax year during which the net operating loss occurred. Use the specific rows for prior years if applicable.
4. In 'Column 2', input the amount of the NM net operating loss incurred for the indicated tax year. Refer to Worksheet 1 for calculating this amount.
5. In 'Column 3', enter the 2020 NM net income before any NM NOL is applied. Use Worksheet 2 to derive this figure based on your FID-1 tax return.
6. Column 4 requires you to document the 2020 NM loss used. Ensure that the sum equals the total from Worksheet 2, and does not exceed the amount in Column 3.
7. In Columns 5 and 6, record the year the loss was applied and any expired NOL amounts, respectively. Be careful to verify the amounts against your prior records.
8. Finally, review the amounts in Column 7, which represent the NM NOL carryforward available for the next tax year. Make sure these calculations are accurate.
9. After completing the form, you may have the option to save changes, download, print, or share the document. Ensure you keep a record of the completed form.

Start filing your NM RPD-41375 online today to ensure timely and accurate submission.