Steps to Complete the CRS-1 Form
Use FormsPal's free PDF editor to fill out each section of the CRS-1 Long Form accurately. The steps below follow the standard field order on the New Mexico Combined Reporting System form.
- Enter your CRS taxpayer number - Your CRS number is assigned by the New Mexico Taxation and Revenue Department when you register your business. Enter it at the top of the form.
- Provide your business name and address - Fill in your legal business name and primary address in New Mexico.
- Select the reporting period - Enter the month, quarter, or semi-annual period you are reporting for, as determined by your TRD filing frequency.
- Report gross receipts by location - List total gross receipts for each business location or activity during the reporting period. Separate entries are required for each locality code.
- Apply eligible deductions - Enter deductions for which your business qualifies. Common deductions include receipts from exempt organizations, certain services, and interstate sales.
- Calculate net taxable gross receipts - Subtract total deductions from gross receipts to find your taxable amount for each location.
- Apply the gross receipts tax rate - Multiply net taxable gross receipts by the applicable rate for each locality. New Mexico gross receipts tax rates vary by municipality.
- Total your tax liability - Add up tax due across all locations and enter the combined amount at the bottom of the form.
- Sign and date the form - An authorized person must sign the completed CRS-1 form before submission to the New Mexico Taxation and Revenue Department.
Related New Mexico Forms
If you need to update your CRS account registration, the ACD-31075 Tax Registration Update form handles changes to business information on file with the TRD. For businesses forming a new entity in the state, review the New Mexico LLC Operating Agreement templates. Other CRS-related reporting forms are also available through the CPI CRS Form 13-146 page.