New Mexico Exchange

New Mexico Tax Free Exchange Package
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State:
New Mexico
Control #:
NM-P064-PKG
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Description

The Tax-Free Exchange Package contains essential forms to successfully complete a tax-free exchange of like-kind property.

This package contains the following forms:

(1) Exchange Agreement
(2) Exchange Addendum
(3) Certification Of No Info Reporting On Sale Of Exchange
(4) Like-Kind Exchanges
(5) Sale of Business Property
(6) Personal Planning Information and Document Inventory Worksheets

Detailed Information on each form:

1. Exchange Agreement - This form is used to establish the intent to enter into an exchange agreement and to otherwise qualify the contemplated transactions under the qualified intermediary safe harbor.

2. Exchange Addendum - In this form, the parties amend an existing contract to buy and sell real estate and agree that the Exchanging Party's rights under the contract are assignable prior to closing to structure an exchange of the property under Section 1031. The Cooperating Party agrees to reasonably cooperate in such exchange with the Exchanging Party.

3. Certification Of No Info Reporting On Sale Of Exchange - Complete this form to determine whether the sale or exchange should be reported to the seller, and to the Internal Revenue Service on Form 1099-S, Proceeds From Real Estate Transactions.

4. Like-Kind Exchanges - This form is used to report each exchange of business or investment property for property of a like kind to the Internal Revenue Service.

5. Sale of Business Property - This form is used to report gains, losses and recapture amounts from the sale of business property and involuntary conversions.

How To Fill Out New Mexico Tax Free Exchange Package?

US Legal Forms is really a special platform where you can find any legal or tax document for filling out, including New Mexico Tax Free Exchange Package. If you’re sick and tired of wasting time searching for appropriate examples and spending money on record preparation/lawyer charges, then US Legal Forms is precisely what you’re searching for.

To reap all of the service’s benefits, you don't need to download any application but simply choose a subscription plan and register your account. If you have one, just log in and get a suitable sample, save it, and fill it out. Downloaded documents are kept in the My Forms folder.

If you don't have a subscription but need to have New Mexico Tax Free Exchange Package, have a look at the recommendations listed below:

  1. Double-check that the form you’re looking at is valid in the state you want it in.
  2. Preview the example and look at its description.
  3. Simply click Buy Now to reach the register webpage.
  4. Select a pricing plan and carry on registering by providing some info.
  5. Pick a payment method to complete the sign up.
  6. Download the document by choosing your preferred format (.docx or .pdf)

Now, fill out the file online or print it. If you are unsure about your New Mexico Tax Free Exchange Package form, contact a attorney to analyze it before you send or file it. Begin without hassles!

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FAQ

Is New Mexico tax exempt?

What is the gross receipts tax rate in Albuquerque NM?

How is boot taxed in a 1031 exchange?

Who must pay New Mexico Gross Receipts Tax?

How do I avoid taxes on a 1031 exchange?

Do you have to pay taxes on a 1031 exchange?

Does New Mexico have a gross receipts tax?

Who is exempt from New Mexico Gross Receipts Tax?

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