![]() The estimated payments are made using voucher AMD-FAR. The law allows PTE to make estimated payments in anticipation of having to file a Federal Adjustment Report (Form #RPD41413) with a composite return (Form #RPD-41367). In 2022, the State Legislature passed House Bill 102, which was signed into law. For more information and guidance, refer to the 2022 PTW-D Pass-Through Entity Withholding Detail Report (NM Form #RPD-41367) Beginning, all federal adjustments will be reported on form TRD-41413, Federal Adjustment Report. The law allows PTEs to pay the withholding tax due from an owner as the result of a positive federal adjustment. In 2021, the State Legislature passed Senate Bill 410, which was signed into law. The PTE may request approval by filing form RPD-41350, E-file Exception Request Form. The request must be received by the Department at least 30 days before the taxpayer’s electronic report is due. If the PTE has more than 50 New Mexico payees, and is unable to file electronically because a hardship exists and there is no reasonable access to the Internet in the taxpayer’s community, the PTE may request Department approval to file by paper. Annual statements of withholding should not be submitted to the Department, but must be submitted to the taxpayer using form RPD-41359, Annual Statement of Pass-Through Entity Withholding, or 1099-Misc. If more than 50 payees, this report must be filed electronically. Form RPD-41367 can be filed and paid electronically on the Department’s web file services page or through a third-party software. The pass-through entity must file and pay the tax using form RPD-41367, Annual Withholding of Net Income From a Pass-Through Entity Detail Report. See Bulletin B-200.25 for a description of the new requirements. The tax withheld is required to be remitted to the Department annually. If your business is a pass-through entity, file in New Mexico on or before the due date of your federal return for the tax year. New Mexico also requires you to deduct and withhold tax from each non-resident owner’s allocable share of net income.
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