The RPD-41359 form is the Annual Statement of Pass-Through Entity Withholding, issued by the New Mexico Taxation and Revenue Department. This form is essential for pass-through entities (PTEs) to report and withhold state taxes from each owner's share of net income. Owners must attach the RPD-41359 to their New Mexico state income tax returns to claim any tax withheld against their personal or corporate income tax obligations.
The RPD-41359 form, officially titled the Annual Statement of Pass-Through Entity Withholding, is a crucial document for owners of pass-through entities (PTEs) in New Mexico. This form is required by the New Mexico Taxation and Revenue Department to report the state tax withheld from the net income allocated to each owner of the entity. It captures essential information such as the federal employer identification number (FEIN) of the PTE, the names and addresses of both the entity and its owners, and the specific amounts of New Mexico net income and state tax withheld. Owners must utilize this form to claim the withheld tax against their personal or corporate income tax obligations when filing their New Mexico state income tax returns. It is important to note that if no income was distributed to owners during the calendar year, no filing is necessary. The RPD-41359 must be submitted along with other forms, such as Form 1099-MISC or a pro forma Form 1099-MISC, to ensure compliance with the Oil and Gas Proceeds and Pass-Through Entity Withholding Tax Act. Timely submission of this form is essential, as it must be provided to owners by February 15 of the following year, or the next business day if that date falls on a weekend or holiday. Understanding the requirements and deadlines associated with the RPD-41359 is vital for both PTEs and their owners to avoid potential penalties and ensure accurate tax reporting.
RPD-41359 Rev. 08/27/2014
New Mexico Taxation and Revenue Department
Annual Statement of Pass-Through Entity Withholding
Tax Year
Pass-through entity’s federal employer identiication number
(FEIN)
Pass-through entity’s name, street address, city,
Pass-through entity’s CRS identiication number (optional)
state, ZIP code, and phone number
Mark box if address
Owner’s federal identiication number
Mark one
FEIN
outside the U.S.
box
SSN
Owner’s name, street address, city, state, and
New Mexico net income of the owner from the pass-through
ZIP code
entity
New Mexico state tax withheld
Owners must attach this form to the New Mexico state income tax return to claim the amount of tax withheld against personal income or corporate income tax due.
Instructions
page 1 of 2
About This Form. Pass-through entities (PTEs) that are subject to report and withhold New Mexico tax from each owner’s share of net income allocable to New Mexico, ac-
cording to the Oil and Gas Proceeds and Pass-Through Entity Withholding Tax Act (Sections 7-3A-1 through 7-3A-9
NMSA 1978), are required to annually submit RPD-41359,
Annual Statement of Pass-Through Entity Withholding, Form 1099-MISC, or pro forma Form 1099-MISC (the PTE may
use any of these three forms) to owners.
Owners (including partners, members, and beneiciaries,
which are all considered owners) must attach the forms received from PTEs to their New Mexico state income tax returnstoclaimtheamountofincomeandtaxwithheldagainst their personal income or corporate income tax due.
IMPORTANT: If no owners received net income from the
PTE for a calendar year, no ilings are required for that year.
An estate or trust that distributes New Mexico net income that is taxable to its recipients is a PTE and subject to
withholding pursuant to the Oil and Gas Proceeds and Pass- Through Entity Withholding Tax Act (Sections 7-3A-1 through
7-3A-9 NMSA 1978). As a PTE, the trust or estate is also required to withhold from the non-resident recipient’s share of the trust or estates taxable New Mexico net income.
An entity that has had tax withheld cannot pass a withholding statement directly to another taxpayer. Generally, the recipi- ent of the withholding statement must ile and report the tax
withheld on its New Mexico income tax return.
For Help. To get help with this form and corporate income taxes, in Santa Fe call (505) 827-0825, call toll free (866) 809-2335 and select option 4, or send email to cit.taxreturn-
help@state.nm.us.
INSTRUCTIONS FOR PASS-THROUGH ENTITIES
This section is for PTEs. If you are an owner, see page 2,
Instructions for Owners.
What to File. To report the New Mexico net income and the state tax withheld for each owner, you are required to ile RPD-41367 with the New Mexico Taxation and Revenue
Department and one of these forms to owners (any of these forms is acceptable):
•New Mexico Form RPD-41359
•Form 1099-MISC
•A pro forma Form 1099-MISC
If the net income you paid on Form 1099-MISC is a combi- nation of income from multiple states, separately state the
income from New Mexico and the amount of New Mexico tax withheld.
Other Reporting Requirements. PTEs are required to pro- vide suficient information to enable owners to comply with the
provisions of the Income Tax Act and the Corporate Income
and Franchise Tax Act, with respect to an owner’s share of
the net New Mexico income. A PTE that uses a Schedule
K-1, or equivalent form to report to owners their share of the net income, must also provide one of the following to report to owners the allocable net income and the New Mexico tax withheld:
Due Date to Send Forms to Owners. Send the forms (RPD-41359, Form 1099-MISC, or pro forma Form
1099-MISC) to owners by February 15 of the year following
the year for which you withheld New Mexico state tax from their net income. If February 15 falls on a Saturday, Sunday, or a state or national legal holiday, the return is timely if the postmark bears the date of the next business day.
How to Complete RPD-41359
Column 1
Year and Contact Information
1.Enter the tax year.
2.Enter your PTE name, address, and phone number. If the address is outside the U.S., mark the box.
3.Enter the owner’s name and address. If the address is outside the U.S., mark the box.
Column 2
Identiication Numbers, Net Income, and State Tax Withheld
1.Enter your PTE federal employer identiication number
(FEIN) using hyphens in XX-XXXXXXX format.
2.If applicable, enter the owner’s Combined Reporting System (CRS) identiication number using hyphens in
XX-XXXXXX-XXX format.
3.Enter the owner’s federal identiication number using hy- phens. If the number is an FEIN, enter it in XX-XXXXXXX format and mark the FEIN box. If the number is a social security number, enter it in XXX-XX-XXXX format and mark the SSN box.
4.Enter the New Mexico net income the PTE allocated to the owner.
5.Enter the New Mexico state tax withheld.
page 2 of 2
Send Each Owner a Copy. After completing RPD-41359
(or Form 1099-MISC or pro forma Form 1099-MISC) for all owners, send each owner a copy of the form by February 15 or the next business day, if February 15 falls on a Saturday, Sunday, or a state or national legal holiday.
ForMoreInformation.See FYI-330, IncomeandWithholding Returns and Electronic Filing.
INSTRUCTIONS FOR OWNERS
This section is for owners. If you are a PTE, see page 1,
Instructions for Pass-Through Entities.
Due Date to File with the State. You are required to ile the RPD-41359, Form 1099-MISC, or pro forma Form
1099-MISC that you received from the PTE with your New Mexico income tax return. The due date is the same date your New Mexico income tax return is due.
How to File. Attach RPD-41359, Form 1099-MISC, or pro forma Form 1099-MISC to and ile it with your New Mexico
income tax return when claiming the New Mexico income and the amount of tax withheld against your personal or corporate income tax due.
IMPORTANT:Unless you are listed as the owner or the recipi- ent of the income, do not attach these forms to your income tax return. When iling your return, you cannot use an income
and withholding statement that is issued to someone else.
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