New Mexico state taxes are an important part of any business in the state. However, understanding applicable business taxes can present a bit of a challenge. Business owners should use the many New Mexico state and local tax resources provided on the Internet from the New Mexico Department of Taxation & Revenue to aid them in their understanding of New Mexico taxes.

Using the Internet, business owners can register a new business in New Mexico, learn about applicable business taxes, locate New Mexico tax forms and even file many business taxes online in a secure manner. Business owners should be sure to:

1. Obtain information about New Mexico taxes from New Mexico state and local tax resources.
2. Gather any necessary New Mexico tax forms.
3. File New Mexico state and local taxes online.
4. Take advantage of online New Mexico tax tools to aid with tax related tasks.

Action Steps
The best contacts and resources to help you get it done

Obtain New Mexico tax information for businesses

The website for the New Mexico Taxation & Revenue Department offers many online New Mexico state and local tax resources for business owners. These resources, ranging from tax publications to frequently asked questions and answers, all can help business owners understand business taxes in New Mexico.

I recommend: View the many online tax publications for information about business taxes in New Mexico. Obtain answers to commonly asked tax questions in the frequently asked questions online. Look up the New Mexico gross receipts tax rates online.

Locate applicable New Mexico tax forms

Business owners can easily download and review necessary business tax forms from the website of the New Mexico Taxation & Revenue Department. Here, you can find corporate income tax forms, withholding tax forms, gross receipts tax forms and a wide variety of other business tax forms.

I recommend: Download and view corporate income tax forms. Obtain withholding, compensating and gross receipts tax forms. Locate other business tax forms by category.

File New Mexico state taxes and local taxes online

Businesses in New Mexico can file New Mexico state taxes and local taxes using one of two online applications. You can take care of your New Mexico state tax filing online using the new NMWebFile application or by using New Mexico's Online Combined Reporting System (CRS-NET). If you don't already have accounts set up with either of these applications, you can set up a new account online.

I recommend: Complete your New Mexico state tax filing online using NMWebFile. File business taxes in New Mexico online using the CRS-NET application.

Use the various online New Mexico tax tools for businesses

New Mexico businesses have various online tools at their disposal from the New Mexico Taxation & Revenue Department. First, businesses can register for a Taxpayer Access Point (TAP) account online in order to access and manage New Mexico tax accounts on the Internet. Using the online Taxpayer Access Point (TAP), new business owners can also register their new businesses and obtain their CRS (combined reporting system) identification number.

I recommend: Sign up for a Taxpayer Access Point (TAP) account online. Register your new business in New Mexico with the New Mexico Taxation & Revenue Department using the Taxpayer Access Point (TAP).

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Consider attending one of the many CRS workshops for information on various New Mexico state taxes including compensating taxes, gross receipts taxes and withholding taxes. Find a workshop schedule and location list online on the New Mexico Taxation & Revenue Department's website.