Prepare Free Your New Mexico State Tax Filing 2015 – 2016

Free tax filing online is very suitable to file your New Mexico income tax return using free tax preparation software. Just complete the forms given by the system entering your detail without errors. As you go through the step-by-step guideline, you will complete your New Mexico income tax return preparing without trouble free and your tax return filed within few minutes. Your task will become very easy. You can file online Federal tax and state tax at your convenience.

Basically 3 options to get your New Mexico state tax refund online.

Tax payers can either allow the government directly deposit your income tax refund into bank account, have a check mailed to you, or apply your tax refund to next year’s income tax.

  • New Mexico state tax filing electronically or online is a best option when you expect a refund check. IRS can process your tax return and matter tax refunds much faster than if you mailed a paper return.
  • Filing and preparing your New Mexico state tax directly from your own computer will cost you much less than going to an income tax professional.

Get New Mexico State Tax Filing Form 2016

We are providing to you all the necessary forms of 2015 New Mexico tax return for online state filing. All the required forms are available from our site. We are also providing detailed instructions on the filing of the New Mexico tax returns and also provide instructions, except for the simple forms, that may be easy to complete.

New Mexico State Tax Refund Online

Capital : Santa Fe

Large City City Population
Albuquerque Tax Filing 555,417
Las Cruces Tax Filing 101,047

The New Mexico (NM) state gross receipts tax rate is currently 5.125%.

Depending on local municipalities, the total tax rate can be as high as 8.625%.

New Mexico has a gross receipts tax that is imposed on persons engaged in business in New Mexico. Generally, a business will pass that tax on to the consumer so that it resembles a sales tax. For more details, read the New Mexico Gross Receipts Tax Overview.

Other, local-level tax rates in the state of New Mexico are quite complex compared against local-level tax rates in other states. New Mexico sales tax may also be levied at the city/county/school/transportation and SPD (special purpose district) levels. The combined rates vary from the state rate of 5.125% up to 8.8675% in some areas.

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The state’s portion of the gross receipts tax is determined by state law. Changes only occur once a year, usually in July. County commissioners govern a county’s portion of the gross receipts tax and municipal councils govern local municipality portions. The county and municipal changes are usually effective in January or July of each year. New rate schedules are issued twice a year–the department does not send out separate notices when changes occur so the business needs to track and maintain rate changes through research.

New Mexico gross receipts tax is collected on businesses engaged in any of the following: selling property in New Mexico, leasing or licensing property employed in New Mexico, granting a right to use a franchise employed in NM, performing services, or selling research and development services performed outside NM when the product is first used in NM. Anyone who engages in business in New Mexico is required to register with the Taxation and Revenue Department (TRD).

New Mexico 2015 Tax Updates

Changes to the New Mexico tax code this year were very minor, so you will see very few changes on your return in 2014. New Mexico did update Form PIT-CR, New Mexico Business-Related Income Tax Credit Schedule and now requests a credit approval number for many of these credits. Taxpayers who were victims of identity theft and issued a New Mexico PIN will also be able to include this number on their tax returns. Finally, nonresident U.S. Public Health Servic Members’ active duty pay can now be subtracted from New Mexico income.

The New Mexico Taxation and Revenue Department still allows common credits and deductions including the New Mexico Low- and Middle-Income Exemption, Exemption for Persons Age 65 or Older or Blind, Low Income Comprehensive Rebate, Property Tax Rebate, Deduction of Medical Expenses, and New Mexico Child Day Care Credit.

Supported New Mexico Forms

FreeTaxFilingUSA supports the following New Mexico forms:

  • Form PIT-1
  • Form PIT-RC
  • Form PIT-CR
  • Form PIT-ADJ
  • Form PIT-B
  • Form PIT-D
  • Form PIT-8453
  • Form PIT-S
  • Form PIT-PV
  • Form PIT-ES
  • Form PIT-X (amended)

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