New Mexico has published a revised version of its FYI-104, New Mexico Withholding Tax. Publications may be found here.
There are several changes of which filers should take note.
Starting tax year 2019, the Department will be requiring electronic submission of income and withholding information returns if you have more than 25 employees and the information will be due at the end of January. Returns will be submitted through New Mexico’s Taxpayer Access Point. Filers may currently use TAP to transmit tax year 2018 returns.
This publication no longer contains the “look up” tables. However, the percentage method instructions for calculating withholding amounts are still provided and remain the same.
