New Mexico Form 709 2024-2025

New Mexico Form 709: What You Should Know

Please contact the CRS if you have questions. Tax Form & Publications from Tax Foundation Forms & Publication from New Mexico Department of Taxes New Mexico State Department of Revenue New Mexico State Department of Taxation (Form CRS) New Mexico Tax Law Enforcement (Forms and Publications): As a resident of New Mexico, you are still required to comply with state and local tax laws, including those that apply in regard to gift and estate taxes. Tax Law Enforcement (Forms and Publications): As a resident of New Mexico, you are still required to comply with state and local tax laws, including those that apply in regard to gift and estate taxes. New Mexico Department of Taxation New Mexico Department of Revenue (Form 609) New Mexico Tax Law Enforcement (Form CRS, Form 715, and New Mexico Gift and Estate Tax) New Mexico Revenue Division (Form CRS and New Mexico Gift and Estate Tax) New Mexico Department of Revenue (Form 649 and New Mexico Gift and Estate Tax) New Mexico Sales and Use Tax Division (Form 855-K) New Mexico Department of Financial Services (Form 649W) Municipal Corporations All municipal corporations, including limited liability companies, have to report New Mexico's annual individual income tax and sales tax as well the non-New Mexico property tax (if applicable) on the corporation's annual filing. See N.M. Revenue and Taxation Code. Form-Sole and Form-Nolle Prose New Mexico is an “inclusive” state. This means that an individual's state-level income is divided among all New Mexico residents. In a “non-inclusive” state where state-level income is divided among only one person, individuals must make a choice. If they are in an “inclusive” state, they divide the state-level income between their residents. Since New Mexico (like many states) does not have a “flat” tax rate, you only report the income you actually receive (i.e., if you have received more New Mexico income than you paid in or paid in less), then your state total and your individual federal tax return will be the same. As residents of all New Mexico states, the individual income tax and sales tax are assessed at the same rate, which is generally the state's individual income tax rate plus 0.3% New Mexico sales tax.

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