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Corporations that generate income from activities or sources in New Mexico and that are required to file federal income tax returns as corporations must pay corporate income tax to the state. [14] Corporate income is taxed at the rate of 4.8% for the first $500,000, 6.4% for the next $500,000 (up to total income of $1 million), and 7.6% for ...
New Mexico Taxation and Revenue Department; Department overview; Type: Taxation & Revenue Services: Jurisdiction: State of New Mexico: Headquarters: 1100 South St. Francis Drive Santa Fe, New Mexico 87504-1028: Employees: 803: Annual budget: US$ 90,078,526.00 [1] Department executive
Lawmakers amended the Income Tax Act in 2019 to allow non-residents to claim a deduction on the benefits they receive from an estate or trust in New Mexico. But again, the law only allows claims ...
IRS Free File has been providing free tax preparation and filing since 2003. IRS Direct File is new for tax year 2023. IRS Direct File provides a new type of software that will hopefully improve ...
Tax-loss harvesting is a smart move for investors looking to offset gains. “If you sold a profitable stock earlier in the year, selling a loss-making stock can help reduce your capital gains ...
EFTPS allows individuals and businesses to make their tax and estimated tax payments securely online using their bank accounts. Payments can be made only after enrolling in the system, and the enrollment process can take about a week (initial online enrollment is followed by relevant information being sent by physical mail, after which the online enrollment process may be completed).
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