New Mexicans seeking financial relief have access to various rebates and credits designed to alleviate their tax burdens, thanks to the state's thoughtful approach to assisting its residents. Specifically, the 2013 PIT-RC New Mexico Rebate and Credit Schedule stands out as a vital tool for individuals who qualify for these financial benefits. To be eligible, one's circumstances must align with the criteria outlined across different sections of the form, touching on aspects such as income levels, age, and residency within specific counties. For instance, seniors over 65 with a modest income could see a reduction in property taxes, while families with lower incomes might benefit from child day care credits. The form also caters to those with even more specific qualifications, such as residents of Los Alamos or Santa Fe Counties who are eligible for additional property tax rebates, emphasizing the state's commitment to a more equitable tax system. Besides guiding through the process of claiming these concessions, the form requires details on income from various sources to ensure rightful claims. Moreover, it touches on refundable tax credits for medical care for those 65 and older, adoption of children with special needs, renewable energy production, and film production, further showcasing New Mexico's support across different facets of its citizens' lives. Including this schedule with one's Personal Income Tax Return is a step towards gaining valuable financial relief, making it an essential component of the taxation process for eligible New Mexico residents.
| Question | Answer |
|---|---|
| Form Name | New Mexico Form Pit Rc |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | 13a, 17a, 18b, 17c |
2013
NEW MEXICO REBATE AND CREDIT SCHEDULE
This schedule may be used by individuals who qualify for one or more refundable rebates and credits offered by New Mexico. Include Schedule
Print your name (irst, middle, last)
*130380200*
YOUR SOCIAL SECURITY NUMBER
SECTION I: QUALIFICATIONS FOR REBATES AND CREDITS REPORTED IN SECTIONS II THROUGH V. Complete Section I to claim the following rebates and credits in Sections II through V. To claim any refundable tax credits in Section VI, you do not need to complete Section I.
Persons with Modiied Gross Income of:
$16,000 or less who are age 65 or older may qualify for the Property Tax Rebate. $30,160 or less may qualify for the New Mexico Child Day Care Credit. $22,000 or less may qualify for the Low Income Comprehensive Tax Rebate.
$24,000 or less who live in Los Alamos or Santa Fe County ONLY may qualify for a Low Income Property Tax Rebate.
FOR COMPLETE ELIGIBILITY REQUIREMENTS, READ REBATE AND CREDIT SCHEDULE INSTRUCTIONS.
Qualiications for Credits and Rebates Reported in Sections II to V. You and your spouse, if applicable, must mark the box to indicate whether the statement is true. If the statement is not true, leave the box blank. If you are not married, leave the boxes in the spouse column blank.
A. I was a resident of New Mexico during any part of the tax year |
TAXPAYER |
SPOUSE |
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TRUE |
..................... TRUE |
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B. In 2013, I was physically present in New Mexico for at least six months |
TRUE |
..................... TRUE |
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C. In 2013, I was NOT eligible to be claimed as a dependent of another taxpayer for income tax purposes |
TRUE |
..................... TRUE |
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D. In 2013, I was NOT an inmate of a public institution for a period of more than six months |
TRUE |
..................... TRUE |
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CALCULATE ALLOWABLE HOUSEHOLD MEMBERS AND EXTRA EXEMPTIONS |
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1. |
Number of exemptions from Form |
1 |
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2. |
a. Enter number of household members who DO NOT qualify. If all exemptions qualify, leave blank |
2a |
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b. Subtract 2a from 1. Number of allowable household members |
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c. Extra Exemption: Enter 1 if you or your spouse (if married iling jointly) are blind for federal income |
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tax purposes. Enter 2 if you and your spouse (if married iling jointly) are blind |
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d. Add lines 2b and 2c |
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e. If you are 65 or older, enter 2 |
2e |
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f. If married iling jointly and your spouse is 65 or older, enter 2 |
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g. Add lines 2d, 2e, and 2f |
2g |
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h. If you checked iling status (3) married iling separately on your Form |
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if any, your spouse claimed on line 2g of his or her |
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3. Total. Add lines 2g and 2h. Enter here and on line 13a on page 2 of this form |
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CALCULATE MODIFIED GROSS INCOME. Modiied gross income, generally, is all income of the taxpayer and household members, both taxable and nontaxable, and undiminished by losses. See instructions for types of income you do not need to include in modiied gross income. NOTE: If married iling separately, be sure to include your spouse's income.
4. |
Wages, salaries, tips, etc |
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Social security beneits, pensions, annuities, and Railroad Retirement |
+ |
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Unemployment and Workers' Compensation beneits |
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Public assistance, TANF, welfare beneits, and Supplemental Security Income (SSI) |
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Net proit from business, farm, or rentals. If a loss, enter zero. DO NOT enter a negative number |
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Capital gains undiminished by capital losses |
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10. Gifts of cash or marketable tangible items received. (You must give the items a reasonable value.) |
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11. All other income such as interest, dividends, gambling winnings, insurance settlements, scholarships, |
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grants, VA beneits, trust income and inheritance, alimony, and child support |
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Modiied Gross Income. Add lines 4 through 11. Enter the total on line 12 and on line 13 of page 2. |
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(Total must equal or exceed Federal Adjusted Gross Income from Form |
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11 |
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12 |
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2013 |
*130390200* |
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NEW MEXICO REBATE AND CREDIT SCHEDULE |
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YOUR SOCIAL SECURITY NUMBER |
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SECTION II: LOW INCOME COMPREHENSIVE TAX REBATE (If line 13 is MORE than $22,000, DO NOT complete line 14.)
13.Enter Modiied Gross Income from line 12 ...............................................................................................................................
a. Enter Total Exemptions from line 3......................................................................................................................................
14.Low Income Comprehensive Tax Rebate. On Table 1 in the instructions, ind the Modiied Gross Income range that includes the amount on line 13, then move across to the column that matches the number of exemptions on
line 13a. Married couples iling separately must divide the result by two. .............................................................................
SECTION III: PROPERTY TAX REBATE FOR PERSONS 65 OR OLDER. (If line 13 is more than $16,000, DO NOT complete this section.)
15.PROPERTY OWNED. Tax billed for the calendar year on principal place of residence
16.PROPERTY RENTED
a. Amount of rent paid during the tax year for principal place of residence .......................................................................................................................................
b. If the amount entered on line 16a includes rent a government entity paid on your behalf, mark here |
16b |
c.Multiply line 16a by 0.06 and enter the amount here ....................................................................................................................
17.REBATE AMOUNT
a.Add lines 15 and 16c and then enter the total here............................................................................................................
b.Find the Modiied Gross Income range, on Table 2 in the instructions, that corresponds to the amount on line 13. Read across the table to the column showing your maximum property tax liability and enter the amount here.................
c.Property Tax Rebate. Subtract line 17b from 17a.
Do not enter more than $250 or if married iling separately, more than $125 ..............................................................................
SECTION IV: ADDITIONAL LOW INCOME PROPERTY TAX REBATE for Los Alamos or Santa Fe County |
18.LA |
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residents only. (If line 13 is over $24,000, DO NOT complete this section.) |
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18.SF |
18.REBATE AMOUNT
a.PROPERTY OWNED only. Tax billed for the calendar year on principal place of residence.............................................
b.Find the Modiied Gross Income range, on Table 3 in the instructions, that corresponds to the amount on line 13. Read across the table to the column showing your property tax rebate percentage and enter here..................................
c. Multiply line 18a by line 18b and enter here.
Do not enter more than $350 or if married iling separately, more than $175 .....................................................................
SECTION V: NEW MEXICO CHILD DAY CARE CREDIT. If Modiied Gross Income on line 13 is $30,160 or less, use the worksheet in the instructions to calculate your available Child Day Care Credit. Attach the worksheet and Forms
19. Enter either the total of Column G on the worksheet or $1,200, WHICHEVER IS LESS ........................................................
13 |
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13a |
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14 |
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15 |
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16a |
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16c |
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17b |
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17c |
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18a |
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18b |
% |
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18c |
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19 |
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20. |
Number of qualiied dependents under age 15 receiving child day care |
20 |
21. |
Enter the portion of the Federal Child Care Credit applied against your federal tax from Form 1040 or 1040A |
21 |
22. |
New Mexico child day care credit. Subtract line 21 from line 19. |
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Married couples iling separately must divide the result by two |
22 |
SECTION VI: REFUNDABLE TAX CREDITS. |
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23. |
Refundable medical care credit for persons 65 or older. See |
23 |
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24.Special needs adopted child tax credit.........................................................................................................................
25.Renewable energy production tax credit. Attach Form
26.Refundable portion of the ilm production tax credit. Attach Form
SECTION VII: TOTAL REBATES AND CREDITS CLAIMED.
27. Add lines 14, 17c, 18c, 22, 23, 24, 25, and 26. Enter here and on Form
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