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Get NM TRD FYI-104 2020-2022

4 FYI-104 REV. 01/2020 page 1 New Mexico Taxation and Revenue Department GENERAL INFORMATION FOR NEW MEXICO WITHHOLDING TAX New Mexico withholding tax is like federal withholding tax. It is based on an estimate of an employee s New Mexico income tax liability and is credited against the employee s actual income tax liability on the New Mexico personal income tax return. Changes for 2020 The Federal government has issued a revised W-4 form for tax year 2020.

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