2025 New Mexico State Tax Deadlines
New Mexico Individual income tax filing deadlines and extensions for 2025
If you are a resident or have been involved in business operations within New Mexico, you might be required to file New Mexico State taxes. New Mexico has a progressive income tax system with rates ranging from 1.7% to 5.9%, making it a moderate-tax state with reasonable filing requirements. This comprehensive guide outlines the key tax deadlines and considerations applicable to New Mexico in 2025.
New Mexico business tax deadlines for 2025
Corporate Income Tax deadlines and requirements
C Corporations in New Mexico must file and pay Corporate Income Tax by April 15, 2026.
Filing requirements include:
- Complete Form CIT-1 (New Mexico Corporate Income and Franchise Tax Return)
- File online with the New Mexico Taxation and Revenue Department
- File by mail must be postmarked by the due date
- Payment must be made by April 15, 2026
Extension to file Corporate Income Tax in New Mexico for 2025
The Extension Deadline for New Mexico Corporate income tax returns is October 15, 2026. New Mexico automatically grants a six-month extension on filing Corporate income tax returns if a federal extension is filed. This is an extension to FILE, not an extension to PAY—payment is still due April 15, 2026.
S Corporations and Partnerships
New Mexico S Corporation and Partnership tax deadlines for 2025
S Corporations and Partnerships must file in New Mexico by March 15, 2026.
Required forms include:
- S-Corp – New Mexico Sub-Chapter S Corporate Income and Franchise Tax Return
- Form PTE – New Mexico Information Return for Pass-Through Entities
Extension to file S Corporation and Partnership taxes in New Mexico for 2025
The Extension Deadline for New Mexico pass-through entity tax returns is September 15, 2026. New Mexico automatically grants a six-month extension on filing pass-through entity income tax returns if a federal extension is filed. This is an extension to FILE, not an extension to PAY—payment is still due March 15, 2026.
New Mexico Individual tax considerations for 2025
Filing requirements and income thresholds
Individuals in New Mexico are required to file a State income tax return based on their residency status and income levels.
Filing requirements depend on:
- Federal tax return filing requirements
- New Mexico tax withholding from pay
- Desire to claim state-specific rebates or credits
- Residency status during the tax year
Estimated tax deadline for New Mexico 2025
Estimated tax payments are due:
- April 15, 2025
- June 16, 2025
- September 15, 2025
- January 15, 2026
Individual tax deadline for New Mexico 2025
You must file and pay Individual Income Taxes in New Mexico by April 15, 2026. New Mexico accepts electronic filing through the Taxpayer Access Point (TAP), which provides faster processing and direct deposit options for refunds.
Available forms include:
- Form PIT-1 – New Mexico Personal Income Tax Return
- Form NM PIT-ES – Estimated Tax Payment Voucher
Extension to file taxes in New Mexico for 2025
The Extension Deadline is October 15, 2026, to file your New Mexico Individual Income tax return. New Mexico automatically grants a six-month extension on filing personal income taxes if a federal extension is filed. This is an extension to FILE, not an extension to PAY—payment is still due April 15, 2026.
What New Mexico tax professionals need to know
Several key considerations make New Mexico's tax landscape unique for 2025:
New Mexico's progressive tax system, with rates from 1.7% to 5.9% provides manageable tax obligations while offering various deductions and credits. The state follows federal guidelines for many provisions while maintaining its specific benefits.
IRS Direct File integration
New Mexico participates in the IRS Direct File program for 2025:
- Available from January 27, 2025, through October 15, 2025
- Allows data import from federal returns into New Mexico's TAP system
- Reduces duplicative data entry for eligible taxpayers
- Free federal filing option with state integration
Taxpayer Access Point benefits
New Mexico's electronic filing system offers:
- Secure online filing and payment processing
- Refund status checking capabilities
- Tax account management tools
- Business registration services
- No charge for electronic check payments
New Mexico's unique tax features for 2025
Gross Receipts Tax considerations
New Mexico's unique Gross Receipts Tax (GRT) affects businesses differently than traditional sales taxes:
- Applies to both goods and services
- Combined state and local rates vary by location
- Broader application than typical sales taxes
- Specific exemptions for governmental and nonprofit sales
Agricultural provisions
New Mexico offers special provisions for farmers:
- If at least two-thirds of gross income is derived from farming, estimated tax may be paid by January 15, 2026
- Farmers who file returns by March 1, 2026, and pay total tax, need not file estimated tax
- Special timing rules provide flexibility for agricultural operations
Disaster relief provisions
Residents of Chaves County affected by severe storms and flooding beginning October 19, 2024, have been granted tax relief:
- Extended deadlines to May 1, 2025, for certain filings
- Federal relief applies to affected taxpayers
- State may provide similar extensions for qualifying situations
Progressive tax structure benefits
New Mexico's moderate tax rates create planning opportunities:
- Standard deduction follows federal amounts
- Various state-specific credits are available
- Reasonable tax burden compared to high-tax states
- Opportunities for tax planning strategies
New Mexico tax planning considerations
Residency determination
New Mexico residency rules affect tax obligations:
- Full-year residents are taxed on all income
- Part-year residents have prorated obligations
- Nonresidents may have filing requirements for New Mexico source income
- Clear documentation is essential for residency determinations
Available deductions and credits
New Mexico offers various tax benefits:
- Working families tax credit for qualifying taxpayers
- Low-income comprehensive tax rebate
- Property tax rebates for eligible homeowners
- Various business incentives and credits
Electronic filing advantages
Benefits of using New Mexico's electronic filing system:
- Faster processing than paper returns
- More accurate calculations
- Direct deposit refund options
- Immediate confirmation of filing
Business tax considerations
New Mexico businesses must consider:
- Corporate income tax obligations
- Gross Receipts Tax requirements
- Workers' compensation premium tax
- Various business registration requirements
Sources
- New Mexico Taxation and Revenue Department
- New Mexico Individual Tax Filing Information
- New Mexico Taxpayer Access Point
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The material discussed on this page is meant for general illustration and/or informational purposes only and is not to be construed as investment, tax, or legal advice. You must exercise your own independent professional judgment, recognizing that advice should not be based on unreasonable factual or legal assumptions or unreasonably rely upon representations of the client or others. Further, any advice you provide in connection with tax return preparation must comply in full with the requirements of IRS Circular 230.
Please note that if any due date falls on a federal or state holiday or weekend, it may be adjusted to the next business day. Always verify current deadlines with the appropriate tax professional and authorities.
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