If the entity, a C or S Corporation, exercises its franchise in New Mexico during the tax year, it is responsible for filing and paying franchise tax. The entity must be registered with the Taxation and Revenue Department or with the Secretary of State, Corporations...
Yes, provided the IRS granted the election. Please provide a copy of the approved election when filing the S corporation return.
Liquor Excise Tax, Local Liquor Excise Tax To correctly complete Form RPD-41129, Liquor Excise Tax Return, do not report negative amounts on either the form or on its schedules. A common reason for reporting negative numbers is entering incorrectly the number of...
File returns monthly even if no tax is due. The LLQ return is due on or before the 25th of the month following close of the calendar month.
The local liquor excise tax rate is 5% of the price that the retailer paid for the alcoholic beverages.
Use Form RPD-41277, Local Liquor Excise Tax Return
To change registration information for: Cigarette Tax Gaming Tax Liquor Excise Tax Local Liquor Excise Tax Telecommunications Relay Service Surcharge Water Conservation Fee Use Form ACD-31015 Business Tax Registration to make changes and submit to the following...
Local Liquor Excise Tax Complete a corrected Form RPD-41277, Local Liquor Excise Tax Return and Form RPD-41071, Application for Tax Refund . If alcoholic beverages for which the local liquor excise tax was paid in a prior period were destroyed in shipment, spoiled, or...
Depending on whether the county assessor agrees, there must be a bona fide primary agricultural use of the land and the capacity to produce agricultural products. The property owner must initially apply for this classification. Refer to Section 7-36-20 NMSA 1978
As Section 7-36-16 NMSA 1978 requires, property is valued as “current and correct.”