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With few exceptions, a business must have a New Mexico Business Tax Identification Number (NMBTIN). The NMBTIN is your state tax identification number and is used when filing gross receipts tax (GRT), compensating tax, wage withholding, and many other business-related tax programs listed in this publication.

The State of New Mexico requires pass-through entities (which may be a state law partnership or a limited liability company taxed as a partnership) to withhold tax at 5.9% on earnings of non-resident partners or members if the owner's distributive share of net income is over $100 in a year.

Single Tax Withholding Table If the Amount of Taxable Income Is:The Amount of Tax Withholding Should Be:Over $0 but not over $6,275$0.00Over $6,275 but not over $11,775$0.00 plus 1.7% of excess over $6,275Over $11,775 but not over $17,275$93.50 plus 3.2% of excess over $11,7757 more rows ?

Tax is calculated at the higher of the maximum marginal rate for either individuals or corporations. For 2022, the highest marginal rate for corporations and individuals is the same?5.9% of taxable income, which will be the applicable rate applied to New Mexico-sourced income if the pass-through entity tax is elected.

Instead of a sales and use tax like most states, New Mexico has a gross receipts tax (GRT). The GRT is imposed on anyone engaged in business in the state. The tax rate is 5.125%. This means for every $100 you make in sales, you'll need to send $5.125 cents to the state.

Form RPD-41083 is to be used to claim a refund of New Mexico tax on behalf of a deceased taxpayer. Who Must File. If you are a court-appointed or certified personal representative, you must include Form RPD-41083 with the taxpayer's refund claim (New Mexico income tax return).