New Mexico has released two new withholding forms and related instructions. Beginning July 1, 2021 form TRD-41414 is the new wage withholding tax return and form TRD-41409 is the new non-wage withholding tax return. These forms replace the prior CRS-1 semi-annual withholding return form. Where CRS-1 was previously used to report either wage or non-wage withholding, the two types of withholding are now to be reported on the two forms separately.
The frequency and form of reporting has not changed. Filers can still expect to report on the same monthly, quarterly, or semi-annual basis as they did before with the CRS-1 form. In addition, the filing and payment mechanisms remains the same with filing and paying online through the New Mexico TAP system or by mail still being available in the same manner as with the CRS-1.
In addition to the new forms, New Mexico has also released instructions for the new forms.
To review the new forms, follow this link to New Mexico’s Forms & Publications page and search “41414” for the wage withholding form and “41409” for the non-wage withholding form. This will return the form and its instructions for your review.