Wednesday, July 21, 2010

New Mexico: Some firms must now e-file taxes

New Mexico trucking companies with two or more trucks and businesses that pay more than $20,000 a month in Combined Reporting System (CRS) taxes are now required to file their taxes online, the New Mexico Taxation and Revenue Department said.
The electronic filing can be done through a new Web site the tax department is offering. To find it, go online and click on the Online Services button, which will lead to a tutorial called “How to E-File Your CRS Tax.”

The affected companies are required to start filing their CRS taxes online by August 25 for the July 2010 tax period. The weight and distance taxes must be filed online by October 31 of this year. All other monthly filers will be phased in over the next year.

The requirement was brought about by 1995 legislation that authorized the department to require electronic filing. The department didn’t have the systems in place to do that until recently, it said.

Tax and Revenue Secretary Designate Duffy Rodriguez said that e-filing is “easy, fast, reliable and convenient.”

The department has launched a new campaign called E-file in Style to alert more than 146,000 monthly tax filers to the requirement to file online.

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