Pass-Through Entity : Businesses - Taxation and Revenue New Mexico
A pass-through entity may elect on an annual basis to pay tax at the entity level for each tax year. The election is made by the entity by filing the required return for New Mexico and allows the …
Jan 27, 2023 · The PTE will make the election to file the Entity Level Tax by filing the RPD-41367, PTW-D Pass-Through Entity Withholding Detail Report and selecting the “Entity Level Tax” …
New Mexico Adopts Elective Pass-Through Entity Tax Regime
May 4, 2022 · For 2022, the highest marginal rate for corporations and individuals is the same—5.9% of taxable income, which will be the applicable rate against New Mexico-sourced …
New Mexico’s Elective Pass-Through Entity Tax Regime - Moss …
May 14, 2023 · This election, first available for tax years beginning in 2022, allows certain pass-through entities, such as partnerships, limited liability companies (LLCs), and S corporations, …
New Mexico’s Pass-Through Entity Tax (PTET): What Changed in …
Jan 8, 2024 · In 2022, New Mexico adopted a pass-through entity tax (PTET) provision, allowing certain Limited Liability Companies (LLCs) – partnerships and S Corporations to elect to pay …
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NEW MEXICO BULLETIN
credit for entity-level tax on owner’s income tax return. Those owners electing to have an entity file composite income tax on their behalf will also support this credit using the RPD-41359 issued …
an annual election to pay an entity level state tax for taxable years beginning on or after January 1, 2022. This Tax Alert summarizes some of the provisions of the New Mexico pass-through …
legislation provides an annual election for some pass-through entities to pay a new entity-level income tax. If elected, the new PTE tax would be imposed on the distributed net income of the …
The PTE will make the election to file the Entity Level Tax by filing the RPD-41367, PTW-D Pass- Through Entity Withholding Detail Report and selecting the “Entity Level Tax” under Section D. …
When does the PTE have to make the election to be taxed directly? The PTE will make the election to be taxed directly at the entity level when it files its Form PTW-D, the Pass-Through …
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