2023 New Mexico State Tax Deadlines
New Mexico Individual Income Tax Filing deadlines and extensions for 2023.
If you are a resident or have been involved in significant business operations within New Mexico then you might be required to file New Mexico State Taxes. We look at the most important tax deadlines and tax extensions for New Mexico in 2023.
C Corporation
New Mexico C Corporation Tax Deadlines for 2023
You must file & pay Corporate Income Taxes in New Mexico by April 16, 2024
Applicable form:
Form CIT-1 - New Mexico Corporate Income and Franchise Tax Return
Extension to File Taxes in New Mexico for 2023
You must send payment for taxes in New Mexico for the fiscal year 2023 by April 16, 2024.
The Extension Deadline is October 15, 2024 to file your New Mexico income tax return.
New Mexico automatically grants 6 months extensions on filing corporate income tax returns if a federal extension is filed. If the corporation has not received a federal extension and needs additional time to file CIT-1, request an extension from the Department. New Mexico requires the request by letter or by filing RPD-41096, Extension of Time to File, on or before the due date of the return.
This is an extension to FILE, not an extension to PAY - payment is still due April 16, 2024.
Pass-Throughs
New Mexico S Corporation & Partnership Tax Deadlines for 2023
You must file & pay Corporate Income Taxes in New Mexico by March 15, 2024.
Applicable forms:
S-Corp - New Mexico Sub-Chapter S Corporate Income and Franchise Tax Return
Form PTE - New Mexico Information Return for Pass-Through Entities
Extension to File S Corporation & Partnership Taxes in New Mexico for 2023
You must send payment for taxes in New Mexico for the fiscal year 2023 by March 15, 2024.
The Extension Deadline is September 16, 2024 to file your New Mexico income tax return.
New Mexico automatically grants 6 months extensions on filing pass-through entity income tax returns if a federal extension is filed. If the pass-through entity has not received a federal extension and needs additional time to file the S-Corp or PTE return, request an extension from the Department. New Mexico requires the request by letter or by filing RPD-41096, Extension of Time to File, on or before the due date of the return.
This is an extension to FILE, not an extension to PAY - payment is still due March 15, 2024.
New Mexico Individual Tax Deadlines for 2023
Estimated Tax Deadline for New Mexico 2023
Estimated tax payments should be made:
- April 18, 2023
- June 15, 2023
- November 15, 2023
- January 15, 2024
See Form NM PIT-ES or the amount to pay with each voucher.
Individual Tax Deadline for New Mexico 2023
You must file & pay Individual Income Taxes in New Mexico by April 16, 2024.
Applicable forms:
Form PIT-1 - Full Time Residents, Non-Residents & Part-Year Residents
Extension to File Taxes in New Mexico for 2023
You must send payment for taxes in New Mexico for the fiscal year 2023 by April 16, 2024.
The Extension Deadline is October 15, 2024 to file your New Mexico Individual Income tax return.
New Mexico will automatically grant a 6 months extension on filing personal income taxes if a federal extension is filed. This means you do not need to file for an extension in New Mexico if you file a federal extension. If you do NOT file a federal extension, file Form 41096 and pay 100% of tax liability to avoid penalties.
This is an extension to FILE, not an extension to PAY - payment is still due April 16, 2024.
Estates Tax Deadline for New Mexico 2023
New Mexico does not have an Estate Tax.
Farmer and Fisherman Taxes for New Mexico 2023
If at least 2/3 of your gross income for the taxable year is derived from farming, you may pay estimated tax at any time on or before January 15, 2024. If you wait until January 15, 2024, you must pay the entire balance of the estimated tax. However, if farmers file their tax return on or before March 1, 2024, and pay the total tax at that time, they need not file estimated tax.
Sources
- https://www.tax.newmexico.gov/individuals/file-your-taxes-overview/estimated-payments/
- https://www.tax.newmexico.gov/individuals/wp-content/uploads/sites/5/2020/10/FYI-320__PIT-ES-Personal-Income-Tax-Estimated-Payments_6-14.pdf
- https://www.tax.newmexico.gov/forms-publications/
- https://www.tax.newmexico.gov/businesses/corporate-income-franchise-tax-overview/filing-requirements/
- https://www.tax.newmexico.gov/businesses/request-an-extension-to-file/
- 2021cit-ins.pdf (amazonaws.com)
- 2021pte-ins.pdf (amazonaws.com)
The material discussed on this page is meant for general illustration and/or informational purposes only and is not to be construed as investment, tax, or legal advice. You must exercise your own independent professional judgment, recognizing that advice should not be based on unreasonable factual or legal assumptions or unreasonably rely upon representations of the client or others. Further, any advice you provide in connection with tax return preparation must comply in full with the requirements of IRS Circular 230.
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