Rpd 41359 Form New Mexico – Fill Out and Use This PDF

The RPD-41359 form is an Annual Statement of Pass-Through Entity Withholding, required by the New Mexico Taxation and Revenue Department. It is designed for pass-through entities to report and withhold New Mexico tax based on each owner's share of net income allocable to New Mexico. Owners must attach this form to their New Mexico state income tax return to claim the amount of tax withheld against their personal or corporate income tax due. Click the button below to start filling out the form efficiently.

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Rpd 41359 Form New Mexico PDF Details

In the realm of New Mexico taxation and regulatory compliance, the RPD-41359 form serves as a crucial document for Pass-Through Entities (PTEs) and their owners. Revised on August 27, 2014, by the New Mexico Taxation and Revenue Department, this form embodies an annual statement highlighting the New Mexico state income tax withheld from each owner's share of net income derived from the pass-through entity. PTEs, including partnerships, S corporations, and certain trusts and estates, which allocate their income, deductions, and credits to their owners, must adhere to the reporting and withholding guidelines as dictated by the Oil and Gas Proceeds and Pass-Through Entity Withholding Tax Act. By furnishing detailed information such as the entity’s and owner's identification numbers alongside the net income attributable to New Mexico and the corresponding state tax withheld, this form plays a pivotal role in ensuring transparency and facilitating owners to claim withheld amounts against their state income tax liabilities. Moreover, it outlines the procedural specifics for both the entities responsible for withholding and distributing the forms by a specified deadline, and for owners on how to duly attach and file these statements with their New Mexico income tax returns. The intricate details offered by the RPD-41359 form underscore its significance in the broader framework of state tax compliance, serving as an indispensable tool for both pass-through entities and their contributing members in navigating their tax obligations within New Mexico.

Question	Answer
Form Name	Rpd 41359 Form New Mexico
Form Length	3 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	45 sec
Other names	nm ptes income, rpd 41359 new mexico, pass ptes mexico, new mexico pass through withholding

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RPD-41359 Rev. 08/27/2014

New Mexico Taxation and Revenue Department

Annual Statement of Pass-Through Entity Withholding

Tax Year	Pass-through entity’s federal employer identiication number
	(FEIN)

Pass-through entity’s name, street address, city,	Pass-through entity’s CRS identiication number (optional)
state, ZIP code, and phone number

Mark box if address	Owner’s federal identiication number	Mark one	FEIN
outside the U.S.		box	SSN
		box	SSN

Owner’s name, street address, city, state, and	New Mexico net income of the owner from the pass-through
ZIP code	entity

Mark box if address	New Mexico state tax withheld
Mark box if address
outside the U.S.

Owners must attach this form to the New Mexico state income tax return to claim the amount of tax withheld against personal income or corporate income tax due.

RPD-41359 Rev. 08/27/2014

New Mexico Taxation and Revenue Department

Annual Statement of Pass-Through Entity Withholding

Tax Year	Pass-through entity’s federal employer identiication number
	(FEIN)

Pass-through entity’s name, street address, city,	Pass-through entity’s CRS identiication number (optional)
state, ZIP code, and phone number

Mark box if address	Owner’s federal identiication number
Mark box if address	Mark one	FEIN
outside the U.S.	box	SSN
Owner’s name, street address, city, state, and	New Mexico net income of the owner from the pass-through
ZIP code	entity

	New Mexico state tax withheld
Mark box if address
outside the U.S.

Owners must attach this form to the New Mexico state income tax return to claim the amount of tax withheld against personal income or corporate income tax due.

RPD-41359 Rev. 08/27/2014

New Mexico Taxation and Revenue Department

Annual Statement of Pass-Through Entity Withholding

Tax Year	Pass-through entity’s federal employer identiication number
	(FEIN)

Pass-through entity’s name, street address, city,	Pass-through entity’s CRS identiication number (optional)
state, ZIP code, and phone number

Mark box if address	Owner’s federal identiication number
Mark box if address	Mark one	FEIN
outside the U.S.	box	SSN
	box	SSN
Owner’s name, street address, city, state, and	New Mexico net income of the owner from the pass-through
ZIP code	entity

Mark box if address	New Mexico state tax withheld
Mark box if address
outside the U.S.

Owners must attach this form to the New Mexico state income tax return to claim the amount of tax withheld against personal income or corporate income tax due.

RPD-41359 Rev. 08/27/2014

New Mexico Taxation and Revenue Department

Annual Statement of Pass-Through Entity Withholding

Instructions

page 1 of 2

About This Form. Pass-through entities (PTEs) that are subject to report and withhold New Mexico tax from each owner’s share of net income allocable to New Mexico, ac-

cording to the Oil and Gas Proceeds and Pass-Through Entity Withholding Tax Act (Sections 7-3A-1 through 7-3A-9

NMSA 1978), are required to annually submit RPD-41359,

Annual Statement of Pass-Through Entity Withholding, Form 1099-MISC, or pro forma Form 1099-MISC (the PTE may

use any of these three forms) to owners.

Owners (including partners, members, and beneiciaries,

which are all considered owners) must attach the forms received from PTEs to their New Mexico state income tax returnstoclaimtheamountofincomeandtaxwithheldagainst their personal income or corporate income tax due.

IMPORTANT: If no owners received net income from the

PTE for a calendar year, no ilings are required for that year.

An estate or trust that distributes New Mexico net income that is taxable to its recipients is a PTE and subject to

withholding pursuant to the Oil and Gas Proceeds and Pass- Through Entity Withholding Tax Act (Sections 7-3A-1 through

7-3A-9 NMSA 1978). As a PTE, the trust or estate is also required to withhold from the non-resident recipient’s share of the trust or estates taxable New Mexico net income.

An entity that has had tax withheld cannot pass a withholding statement directly to another taxpayer. Generally, the recipi- ent of the withholding statement must ile and report the tax

withheld on its New Mexico income tax return.

For Help. To get help with this form and corporate income taxes, in Santa Fe call (505) 827-0825, call toll free (866) 809-2335 and select option 4, or send email to cit.taxreturn-

help@state.nm.us.

INSTRUCTIONS FOR PASS-THROUGH ENTITIES

This section is for PTEs. If you are an owner, see page 2,

Instructions for Owners.

What to File. To report the New Mexico net income and the state tax withheld for each owner, you are required to ile RPD-41367 with the New Mexico Taxation and Revenue

Department and one of these forms to owners (any of these forms is acceptable):

•New Mexico Form RPD-41359

•Form 1099-MISC

•A pro forma Form 1099-MISC

If the net income you paid on Form 1099-MISC is a combi- nation of income from multiple states, separately state the

income from New Mexico and the amount of New Mexico tax withheld.

Other Reporting Requirements. PTEs are required to pro- vide suficient information to enable owners to comply with the

provisions of the Income Tax Act and the Corporate Income

and Franchise Tax Act, with respect to an owner’s share of

the net New Mexico income. A PTE that uses a Schedule

K-1, or equivalent form to report to owners their share of the net income, must also provide one of the following to report to owners the allocable net income and the New Mexico tax withheld:

•New Mexico Form RPD-41359

•Form 1099-MISC

•A pro forma Form 1099-MISC

Due Date to Send Forms to Owners. Send the forms (RPD-41359, Form 1099-MISC, or pro forma Form

1099-MISC) to owners by February 15 of the year following

the year for which you withheld New Mexico state tax from their net income. If February 15 falls on a Saturday, Sunday, or a state or national legal holiday, the return is timely if the postmark bears the date of the next business day.

How to Complete RPD-41359

Column 1

Year and Contact Information

1.Enter the tax year.

2.Enter your PTE name, address, and phone number. If the address is outside the U.S., mark the box.

3.Enter the owner’s name and address. If the address is outside the U.S., mark the box.

Column 2

Identiication Numbers, Net Income, and State Tax Withheld

1.Enter your PTE federal employer identiication number

(FEIN) using hyphens in XX-XXXXXXX format.

2.If applicable, enter the owner’s Combined Reporting System (CRS) identiication number using hyphens in

XX-XXXXXX-XXX format.

3.Enter the owner’s federal identiication number using hy- phens. If the number is an FEIN, enter it in XX-XXXXXXX format and mark the FEIN box. If the number is a social security number, enter it in XXX-XX-XXXX format and mark the SSN box.

4.Enter the New Mexico net income the PTE allocated to the owner.

5.Enter the New Mexico state tax withheld.

RPD-41359 Rev. 08/27/2014

New Mexico Taxation and Revenue Department

Annual Statement of Pass-Through Entity Withholding

Instructions

page 2 of 2

Send Each Owner a Copy. After completing RPD-41359

(or Form 1099-MISC or pro forma Form 1099-MISC) for all owners, send each owner a copy of the form by February 15 or the next business day, if February 15 falls on a Saturday, Sunday, or a state or national legal holiday.

ForMoreInformation.See FYI-330, IncomeandWithholding Returns and Electronic Filing.

INSTRUCTIONS FOR OWNERS

This section is for owners. If you are a PTE, see page 1,

Instructions for Pass-Through Entities.

Due Date to File with the State. You are required to ile the RPD-41359, Form 1099-MISC, or pro forma Form

1099-MISC that you received from the PTE with your New Mexico income tax return. The due date is the same date your New Mexico income tax return is due.

How to File. Attach RPD-41359, Form 1099-MISC, or pro forma Form 1099-MISC to and ile it with your New Mexico

income tax return when claiming the New Mexico income and the amount of tax withheld against your personal or corporate income tax due.

IMPORTANT:Unless you are listed as the owner or the recipi- ent of the income, do not attach these forms to your income tax return. When iling your return, you cannot use an income

and withholding statement that is issued to someone else.

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2. Once your current task is complete, take the next step – fill out all of these fields - Owners name street address city, New Mexico net income of the owner, RPD Rev, Tax Year, New Mexico state tax withheld, Mark box if address outside the US, Owners must attach this form to, New Mexico Taxation and Revenue, Annual Statement of PassThrough, Passthrough entitys federal, Passthrough entitys CRS, Passthrough entitys name street, Owners name street address city, New Mexico net income of the owner, and Mark box if address outside the US with their corresponding information. Make sure to double check that everything has been entered correctly before continuing!

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Rpd 41359 Form New Mexico – Fill Out and Use This PDF

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