New Mexico 1099 Reporting Requirements

Does New Mexico mandate you file 1099 Forms?

Yes, the New Mexico Taxation and Revenue Department requires you file 1099 forms.

Does New Mexico participate in the CF/SF program?

Yes, the State of New Mexico participates in the CF/SF program. As IRS will automatically forward copies of 1099 forms to New Mexico, direct state filing is not mandatory.

What types of 1099 forms does New Mexico require?

New Mexico requires the following Federal forms 1099-R, and 1099-MISC, (for oil and gas proceeds and pass-through entity withholding). Additionally, any other income and withholding return (1099-INT, 1099-DIV, 1099-S, 1099-B) that includes New Mexico income tax withheld must be sent to the Taxation and Revenue Department.

Does New Mexico have any additional requirements when you file 1099 forms?

The state of New Mexico mandates that you file the Form RPD-41072 with the Form 1099-R if you paper filed.

What is Form RPD-41072?

Form RPD-41072 is used to reconcile the total amounts shown as withheld on annual statement of withholding information returns furnished to recipients (Federal Form 1099) with the total tax withheld and paid to New Mexico on CRS-1 returns.

What are the due dates to file 1099 & Form RPD-41072 electronically?

The filing due date for both the Form 1099 & Form RPD-41072 is the last day of February.

What are the requirements to file 1099 online?

The state of New Mexico mandates filing electronically if you are submitting 50 or more 1099s.

What is the penalty for filing Federal Form 1099 and New Mexico State Form RPD-41072 late?

The negligence penalty for late filing or late payment applies if you file late and owe tax, or if you do not pay your tax when due. The penalty is 2% of the tax due for each month or part of a month the return is not filed or the tax is not paid, to a maximum of 20%. Learn more about the late Form 1099 filing penalties by visiting https://www.taxbandits.com/form-1099-series/1099-penalties/.

Where do I mail my 1099 tax filing for New Mexico?

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Upcoming Deadline: IRS Form 941 1st Quarter deadline is on April 30, 2019.