New Mexico Income Tax Forms Rates & Services

You must file a New Mexico return if you meet any of the following conditions:

• You have to file a federal return.
• You want to claim a refund of any New Mexico taxes withheld from your pay.
• You want to claim any New Mexico rebates or credits.

A New Mexico income tax exemption is allowed for individuals who are low and middle-income taxpayers. The maximum is $2,500 for each qualified exemption for federal income tax purposes.

Native Americans who worked or lived on lands outside the Native American nation, tribe or pueblo of which they are members are subject to New Mexico personal income tax. Enrolled members of a Native American nation, tribe or pueblo who lived on the lands of the Native American nation, tribe or pueblo where they are members, and whose entire income was earned from work on those lands, are exempt from filing a New Mexico income tax return.

Working parents may qualify for the Child Day Care Credit. To be eligible the following criteria must be met:

• Modified gross income of $21,424* or less for the year,
• Resident of this state during the tax year,
• Furnish more than half the cost of maintaining a home for one or more qualifying dependents for the part of the year for which you claim the credit,
• Be gainfully employed for the part of the year for which you claim the credit,
• Not have received public assistance under a program of temporary assistance for needy families —or a similar program — for the part of the year claimed, and
• Neither you, nor your spouse, were an inmate of a public institution for more than six months during the tax year.

As a New Mexico resident 65 years or older you are entitled to special income tax and property tax benefits including the Energy Tax Rebate that many, but not all, New Mexicans received in the mail in November 2005.

Other Helpful Links:
State of New Mexico Taxation and Revenue: http://www.tax.state.nm.us/
New Mexico Personal Income Tax Questions: http://www.tax.state.nm.us/oos/PersonalIncomeTaxFAQ.pdf
New Mexico/Native American Tribal Agreements: http://www.tax.state.nm.us/tribal.htm
State of New Mexico Tax Forms: http://www.tax.state.nm.us/trd_form.htm
Internal Revenue Service: http://www.irs.gov/

Liberty currently has 10 offices in New Mexico to suit all your tax preparation needs. We're becoming known for our customer service throughout the country. We treat our customers as number one, and we guarantee our service 100%.

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