*230280200* Attach this Schedule PIT-ADJ to your Personal Income Tax Return, Form PIT-1. 2023 PIT-ADJ NEW MEXICO SCHEDULE OF ADDITIONS, DEDUCTIONS, AND EXEMPTIONS Taxpayers who are required to make certain additions or who are eligible to take certain deductions or exemptions from federal adjusted gross income to compute New Mexico taxable income must complete this schedule. Please refer to the instructions when completing this schedule. Print your name (first, middle, last) YOUR SOCIAL SECURITY NUMBER We cannot accept statements instead of this schedule. NEW MEXICO ADDITIONS TO FEDERAL ADJUSTED GROSS INCOME 1. Interest and dividends from federal tax-exempt bonds........................................................................................... 1. 2. Federal net operating loss carryover. See PIT-ADJ instructions............................................................................. 2. 3. Contributions refunded when closing a New Mexico-approved Section 529 college savings plan account and certain contributions rolled out of a New Mexico-approved Section 529 college savings plan account................ 3. 4. Charitable deduction amount claimed on federal Schedule A, Line 12, for a donation of land to private non-profit or public conservation agencies, for conservation purposes, from which you were allowed the New Mexico Land Conservation Tax Credit.......................................................................................................................................... 4. 5. Amount of tax paid by a Pass-Through-Entity on distributed net income............................................................... 5. 6. TOTAL ADDITIONS. Add lines 1 through 5. Also enter on Form PIT-1, line 11.................................................. 6. NEW MEXICO DEDUCTIONS AND EXEMPTIONS FROM FEDERAL ADJUSTED GROSS INCOME 7. New Mexico tax-exempt interest and dividends...................................................................................................... 7. 8. New Mexico net operating loss. See PIT-ADJ instructions. Attach Form RPD-41369.......................................... 8. 9. Interest received on U.S. Government obligations.................................................................................................. 9. 10. Taxable Railroad Retirement Act annuities and benefits, and taxable Railroad Unemployment Insurance Act sick pay. Attach Forms RRB-1099 and RRB-1099-R..................................................................................... 10. 11. Income of a member of a New Mexico federally recognized Indian nation, tribe, or pueblo that was earned within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as "Indian country" of which the individual is an enrolled member while domiciled within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as "Indian country".. 11. 11a. I am enrolled as a member of the New Mexico federally recognized Indian nation, tribe, or pueblo. 11a. 11b. My spouse is enrolled as a member of the New Mexico federally recognized Indian nation, tribe, or pueblo. 11b. 12. Income of persons age 100 years or older. If you or your spouse is age 100 or older, you must mark the boxes to claim your exemption. 12a. 100 or older q 12b. Spouse 100 or older q 12. 13. Exemption for persons age 65 or older, or blind..................................................................................................... 13. 14. Exemption for New Mexico medical care savings account. See PIT-ADJ instructions........................................ 14. 15. Deduction for contributions to a New Mexico-approved Section 529 college savings plan.................................... 15. 16. Net capital gains deduction. See PIT-ADJ instructions........................................................................................ 16. 17. Active duty pay for United States armed forces. See PIT-ADJ instructions......................................................... 17. 18. Medical care expense exemption for persons age 65 years or older...................................................................... 18. 19. Deduction for organ donation-related expenses..................................................................................................... 19. 20. New Mexico National Guard member life insurance reimbursements tax exemption............................................ 20. 21. Taxable refunds, credits, or offsets of state and local income taxes from federal Form 1040, Schedule 1............ 21. 22. Non-resident U.S. Public Health Service members' active duty pay....................................................................... 22. 23. Liquor license lessor deduction. See PIT-ADJ Instructions.................................................................................. 23. 24. Exemption for armed forces retirement pay. See PIT-ADJ Instructions. ............................................................. 24. 25. Exemption for social security income. See PIT-ADJ Instructions. ....................................................................... 25. 26. Deduction for certain expenses related to a New Mexico licensed cannabis business........................................... 26. 27. TOTAL DEDUCTIONS AND EXEMPTIONS. Add lines 7 through 26. Enter here and on Form PIT-1, line 15... 27.

INSTRUCTIONS FOR 2023 PIT-ADJ SCHEDULE OF ADDITIONS, DEDUCTIONS, AND EXEMPTIONS General Information If either of the following apply to you, complete PIT-ADJ: • You are required to make certain additions to your federal adjusted gross income. • You are eligible to take certain deductions and exemp- tions from your federal adjusted gross income. The PIT-ADJ is required for you to claim certain additions, deductions, or exemptions. This schedule shows your total additions (line 6) and your total deductions and exemptions (line 27). Enter these totals on your PIT-1 Return to calculate your New Mexico taxable income. After completing PIT-ADJ, attach it to your PIT-1 Return. If the additions, deductions, or exemptions on this schedule do not apply to you, DO NOT complete this schedule and do not attach it to the PIT-1 return. IMPORTANT: Do not add any amounts to Schedule PIT-ADJ that are not listed on this schedule. If an item is not listed, it is not a valid New Mexico addition, exemption, or deduction for this schedule. Do not submit a statement instead of this schedule. The Taxation and Revenue Department does not accept statements instead of the Schedule PIT-ADJ. Additions to Federal Adjusted Gross Income (Lines 1–5) You are required to report the following additions to your federal adjusted gross income on Schedule PIT-ADJ: • Line 1. Interest and dividends from federal tax-exempt bonds. • Line 2. A federal net operating loss carryover. A positive number is required on this line. • Line 3. Contributions refunded when closing, or certain contributions rolled out of, a New Mexico-approved Sec- tion 529 college savings plan account. • Line 4. A charitable deduction claimed on federal Sched- ule A Line 12, for a donation of land to private non-profit or public conservation agencies for conservation purpos- es from which you were allowed the New Mexico land conservation tax credit. • Line 5. Amount of tax paid by a Pass-Through Entity on distributed net income. Each addition is described in detail later in these instructions. Deductions and Exemptions from Federal Adjusted Gross Income (Lines 7–26) Use PIT-ADJ to claim the following deductions and exemp- tions: • Line 7. New Mexico tax-exempt interest and dividend in- come. • Line 8. A New Mexico net operating loss carryforward. Must attach form RPD-41369. • Line 9. Interest on U.S. government obligations. • Line 10. Railroad retirement income or Railroad Unem- ployment Insurance Act sick pay not taxable by New Mexico. • Line 11. You, your spouse, or both are members of a New Mexico federally recognized Indian nation, tribe, or pueblo, and the income of the member was earned with- in the boundaries of the Indian member’s or the spouse’s reservation or pueblo grant or within the boundaries of land defined as “Indian country” of which one of you are a member while domiciled within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country”. If either you or your spouse are not a member of an Indian nation, tribe, or pueblo, the income of the non-member is taxable even when earned within the boundaries of a reservation or pueblo grant or within the boundaries of land defined as “Indian country”. • Line 11a and 11b. Please enter the name of the New Mexico Federally recognized Indian nation, tribe or pueb- lo of which you or your spouse is a member. • Line 12. You, your spouse, or both are age 100 or over, and not dependents of another taxpayer. • Line 13. You, your spouse, or both are age 65 or over or blind, and adjusted gross income is not over $51,000 for a joint return; $28,500 for a single taxpayer; or $25,500 for married taxpayers filing separately. • Line 14. Federally taxable contributions to or distribu- tions from a New Mexico Medical Care Savings Account. • Line 15. Contributions to a New Mexico-approved Sec- tion 529 college savings plan. • Line 16. Net capital gains deduction. • Line 17. Active duty pay for United States armed forces. • Line 18. You, your spouse, or both are age 65 or over, and claiming unreimbursed or uncompensated medi- cal care expenses of $28,000 or more for yourself, your spouse, or dependents. • Line 19. Expenses that you, your spouse, or dependant have related to donating human organs to another per- son. • Line 20. Reimbursement from the New Mexico National Guard Service Member’s Life Insurance Reimbursement Fund. • Line 21. Taxable refunds, credits, or offsets of state and local income taxes included in your federal adjusted gross income (federal Schedule 1, line 1). • Line 22. Active duty pay of a non-resident U.S. Public Health Service (USPHS) member earned in New Mexico. • Line 23. Liquor license lessor deduction. • Line 24. Armed forces retirement pay. • Line 25. Social Security Income. PIT-ADJ ADJ-1 www.tax.newmexico.gov

• Line 26. Deduction for expenses related to a New Mexico licensed cannabis business. Each deduction and exemption is described in detail later in these instructions. Preparing Your Schedule PIT-ADJ Complete your PIT-1 and then follow these steps to prepare and complete Schedule PIT-ADJ. 1. In the PIT-1 instructions, page 20, read Important Guide- lines. This section gives helpful guidelines for completing schedules and forms. 2. Make sure you have all necessary records, approvals, and certifications for the PIT-ADJ. 3. On the 2023 Schedule PIT-ADJ, enter the primary tax- payer’s name and social security number from lines 1a and 1b of your PIT-1 return. Make sure the name and number are correct and readable. 4. Using the detailed instructions for each line on the next pages, complete the 2023 Schedule PIT-ADJ. 5. Double-check the figures on your 2023 Schedule PIT- ADJ. Be sure your arithmetic is correct and make sure all entries are complete and correct. 6. If line 11 is applicable, make sure you correctly marked the boxes. 7. Transfer the total on line 6 of this schedule to PIT-1, line 11. 8. Transfer the total on line 27 of this schedule to PIT-1, line 15. 9. Attach your completed PIT-ADJ, along with any other re- quired attachments to your PIT-1 return. For other possi- ble attachments, look for Attach headings in the instruc- tions for lines 7, 8, 10,12, 18, and 20. Detailed Instructions For Each Line Additions To Federal Adjusted Gross Income LINE 1. Interest and dividend income from federal tax- exempt bonds Enter your interest and dividend income from all state and municipal bonds excluded from your federal adjusted gross income. This includes all federally tax-exempt interest and dividends reported on federal Form 1040 or 1040SR from state and municipal obligations.

NOTE: Use line 7 of PIT-ADJ to claim the deduction for inter- est and dividends of obligations exempt from New Mexico taxable income. LINE 2. Federal net operating loss carryover A positive number is required on this line. From federal Schedule 1, line 8 (Other income), enter the amount of any federal net operating loss carryforward or carryback. By making this entry, you are adding the federal net operating loss taken on your federal return to the income you reported on PIT-1, line 9. The rules for applying a net operating loss deduction to New Mexico taxable income are different from federal rules. To compute the New Mexico net operating loss carryforward, see line 8 later in these instructions. LINE 3. Contributions refunded when closing a New Mexico-approved Section 529 college savings plan account and certain contributions rolled out of a New Mexico-approved Section 529 college savings plan ac- count Enter the amount of qualified contributions refunded to you or rolled over during the tax year from a New Mexico-approved Section 529 college savings plan account only if the contri- butions were deducted on an earlier New Mexico personal income tax return and if any of the following are true: • You closed a New Mexico-approved Section 529 college savings plan account, and received a refund of the con- tributions. In this case, enter the amount of contributions refunded. • You rolled over contributions from a New Mexico-ap- proved Section 529 college savings plan account to a non-New Mexico-approved Section 529 college savings plan account. In this case, enter the amount of those con- tributions. Do not include: • Earnings refunded to the investor. • Earnings rolled over from a New Mexico-approved Sec- tion 529 college savings plan account to a non-New Mex- ico-approved Section 529 college savings plan. • Qualified distributions from the Section 529 college sav- ings plan account. For more information, see Quick Guide 6, New Mexico Income Tax and Your Education Trust (529) Plan on the Department’s website. LINE 4. Charitable deduction amount claimed on federal Schedule A, Line 12, for a donation of land to private non-profit or public conservation agencies for conser- vation purposes from which you were allowed the New Mexico Land Conservation Tax Credit If both of the following are true, you must add back the chari- table deduction amount included in the itemized deductions claimed on your federal Schedule A: • You donated land to private nonprofit or public conserva- tion agencies for conservation purposes from which you claimed a New Mexico land conservation incentives tax credit. • You claimed a charitable deduction for the same contri- bution in the federal itemized deductions on your federal personal income tax return. If both are true, enter the charitable deduction amount claimed on federal Schedule A, from which you were allowed the New Mexico land conservation tax credit. LINE 5. Amount of tax paid by a Pass-Through-Entity PIT-ADJ ADJ-2 www.tax.newmexico.gov

on distributed net income Enter the amount of tax paid by a Pass-Through-Entity on distributed net income. Deductions And Exemptions From Federal Adjusted Gross Income LINE 7. New Mexico tax-exempt interest and dividends Enter the total interest or dividend income you received from the following investments: • State and local bonds exempt from New Mexico taxable income, including the State of New Mexico or its agen- cies, institutions, instrumentalities, or political subdivi- sions; • Obligations of the Commonwealth of Puerto Rico, Guam, Virgin Islands, American Samoa, or Northern Mariana Is- lands; • Federally taxable bonds issued by the State of New Mex- ico; and • Mutual funds, unit investment trusts, or simple trusts in- vested in obligations of the State of New Mexico or its agencies, institutions, instrumentalities, or political sub- divisions, or from the Commonwealth of Puerto Rico, Guam, Virgin Islands, American Samoa, or Northern Mariana Islands. You may deduct only the amount shown on the annual state- ment provided by the mutual fund, unit investment trust, or simple trust as flowing through to the investor from this investment income. NOTE: You may not deduct interest and dividends from IRAs. IRAs invested in obligations of the State of New Mexico or its agencies, institutions, instrumentalities, or political subdivisions, or from the Commonwealth of Puerto Rico, Guam, Virgin Islands, American Samoa, or Northern Mariana Islands do not qualify as a simple trust. Attach An Explanation If the amount on line 7 is more than the amount on line 1, attach an explanation to your return. LINE 8. New Mexico net operating loss carryforward If you have an unused New Mexico net operating loss carry- forward from a previous year, enter the carryforward amount to apply against New Mexico taxable income for 2023. All New Mexico net operating losses must flow from a fed- eral net operating loss. You cannot have a New Mexico net operating loss without a federal net operating loss. Unlike a federal net operating loss carryforward, a New Mex- ico net operating loss incurred cannot be carried back and if incurred on or after January 1, 2013, may be carried forward for 19 years or until the total amount of the loss carryover has been used, whichever occurs first. For a net operating loss that was incurred in tax years beginning before January 1, 2013, a New Mexico net operating loss may be carried forward for only five years. Refer to regulation 3.3.1.13(E) NMAC 1978, if the net operating loss was incurred in a tax year beginning prior to January 1, 1991. The first year you can apply a New Mexico net operating loss is: • If you filed your return on time, you can apply it the fol- lowing tax year, or • You can apply it the first tax year that begins after the date you file a return establishing the loss. Calculation To calculate the carryforward amount from a New Mexico net operating loss recognized in a previous year, follow these steps: 1. Add the next two amounts. • The federal net operating loss as defined by Section 172(c) of the Internal Revenue Service for the tax year of the loss. • Any interest received on U.S. government obligations less related expenses reported on your New Mexico tax return for the tax year of the loss. 2. From the total in step 1, subtract any loss used in earlier tax years. Attach Form RPD-41369 To show the tax year when each New Mexico net operat- ing loss occurred and how the loss was used for each tax year, for which the loss was carried forward, attach to your return Form RPD-41369, Net Operating Loss Carryforward Schedule. LINE 9. Interest received on U.S. government obligations Enter the interest you received from U.S. government obliga- tions, including any of the following: • U.S. savings bonds • Treasury bills • Notes issued by the Federal Home Loan Banks(do not include dividends) • U.S. government obligations from your share of income from partnerships, S corporations, or limited liability com- panies, or a distribution from a unit investment or simple trust Deduct Dividends You may deduct dividends from mutual funds invested in U.S. government obligations according to the percentage of the total fund invested in U.S. government obligations. To deduct these dividends, the fund must give investors statements showing the amount of interest income from investments in U.S. government obligations. Do Not Deduct As Interest Interest from the Government National Mortgage Associa- tion (Ginnie Mae), Federal National Mortgage Association (Fannie Mae), or Federal National Home Loan Mortgage Association (Freddie Mac), is not deductible as interest on U.S. government obligations. LINE 10. Taxable Railroad Retirement Act annuities and PIT-ADJ ADJ-3 www.tax.newmexico.gov

benefits, and taxable Railroad Unemployment Insurance Act sick pay If your taxable Railroad Retirement Act annuities and ben- efits, or your taxable Railroad Unemployment Insurance Act sick pay were part of your federal taxable income, enter the total of those amounts. Attach Forms RRB-1099 and RRB-1099-R You may receive one or both of these forms from the Rail- road Retirement Board. Attach the form(s) you receive to your return. LINES 11, 11a, and 11b. Income of a member of a New Mexico federally-recognized Indian nation, tribe, or pueblo that was earned within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country” of which the indi- vidual is an enrolled member while domiciled within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country” If you are an enrolled member of a New Mexico federally- recognized Indian nation, tribe, or pueblo, your income is exempt from federal adjusted gross income if you meet the following two conditions: • You were domiciled within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country” of membership when you earned the in- come, and • You earned the income within the boundaries of the res- ervation or pueblo grant or within the boundaries of land defined as “Indian country”. If you are the spouse of an enrolled member who is domiciled and works within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country” of the spouse’s New Mexico federally recognized nation, tribe, or pueblo, your income is taxable unless you are also a member of a New Mexico federally recognized Indian nation, tribe, band or pueblo. IMPORTANT: Income (including retirement or pension in- come) earned outside the boundaries of the reservation or pueblo grant or outside the boundaries of land defined as “Indian country” of your own or your spouse’s New Mexico federally recognized Indian nation, tribe, or pueblo is subject to New Mexico income tax no matter where you live. When Armed Forces Pay and Retirement or Pension In- come is Exempt. Armed forces pay of an enrolled member of a New Mexico federally recognized Indian nation, tribe, or pueblo is exempt only for times when the home of record and domicile is within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country” of the member’s own New Mexico federally recognized Indian nation, tribe, or pueblo. Retirement or pension income is exempt when the retire- ment or pension is the result of employment within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country” of the mem- ber’s or spouse’s New Mexico federally recognized Indian nation, tribe, or pueblo. • Line 11, enter the amount of qualifying income. • Line 11a, enter the name of your New Mexico federally recognized Indian nation, tribe, or pueblo. • Line 11b, if applicable, list the name of your spouses New Mexico federally recognized Indian nation, tribe, or pueblo. NOTE FOR LINES 11 AND 12: You may not claim combined exemptions and deductions for more than 100% of income. If you claim rebates and credits on PIT-RC, you must also include amounts exempted or deducted on PIT-ADJ, lines 11 and 12 as income when calculating modified gross income. For more information, see the instructions for PIT-RC. LINE 12 and BOXES 12a and 12b. Income of persons age 100 years or older To qualify for this income exemption both of the following must be true: • The taxpayer or spouse must be 100 years or older (a centenarian) at the end of the tax year for which you claim the exemption. • Someone else cannot claim the centenarian as a depen- dent.

If you qualify, mark the box or boxes on lines 12a and 12b. IMPORTANT: If you do not mark the box or boxes, the De- partment denies this exemption. See the previous NOTE FOR LINES 11 AND 12. Unmarried Centenarians. If you are an unmarried centenar- ian, you do not need to file a return unless you want to claim rebates and credits available for low income filers. Married Centenarians. New Mexico is a community property state, and rules are different for married centenarians. If you are a married centenarian filing jointly or separately, you may exempt half of all community income and all of your separate income. Attach A Statement If you report an exemption for more or less than 50% of total joint income, attach a statement to your return showing a correct division of community property along with separate income and payments. Not allowed are combined exemptions and deductions for more than 100% of income. IMPORTANT: If you claim rebates and credits on Schedule PIT-RC, include this exempt income in calculating modified gross income on that schedule. See the instructions for Schedule PIT-RC. PIT-ADJ ADJ-4 www.tax.newmexico.gov

TABLE 1. Exemptions for Persons 65 or Older or Blind (see line 13 instructions) Married Filing Jointly, Head of Household, Surviving Spouse Adjusted Gross Income PIT-1 Return, Line 9

But not Over $ 0 $30,000

30,001 33,000

33,001 36,000

36,001 39,000

39,001 42,000

42,001 45,000

45,001 48,000

48,001 51,000

51,001---------------------------

Single Adjusted Gross Income PIT-1 Return, Line 9

But not Over $ 0 $18,000

18,001 19,500

19,501 21,000

21,001 22,500

22,501 24,000

24,001 25,500

25,501 27,000

27,001 28,500

28,501--------------------------- Married Filing Separately Adjusted Gross Income PIT-1 Return, Line 9

But not Over $ 0 $15,000

15,001 16,500

16,501 18,000

18,001 19,500

19,501 21,000

21,001 22,500

22,501 24,000

24,001 25,500

25,501-------------------------- Amount for each taxpayer 65 or older, or blind, for federal income tax purposes -----------$ 8,000 ----------- 7,000 ----------- 6,000 ----------- 5,000 ----------- 4,000 ----------- 3,000 ----------- 2,000 ----------- 1,000 ---------------- 0 For more information, see Bulletin B-300.03, PIT Exemption for Centenarians, at http://www.tax.newmexico.gov/. At the top, click FORMS & PUBLICATIONS, then select Bulletins from the Publications folder. Open the 300 Series-Income Taxes folder to access B-300.3. You may not claim the centenarian exemption AND the deduction for 65 and older or blind. LINE 13. Exemption for persons age 65 or older, or blind You may be eligible for an exemption of up to $8,000 based on your filing status and your federal adjusted gross income from PIT-1, line 9, if: • You are 65 or older, or • You are not yet 65, but considered blind for federal income tax purposes. Find the column in Table 1 that matches your filing status. Then find the row that includes your federal adjusted gross income. Read across to the last column for the exemption amount. When both persons in a married couple are either 65 or older or blind on the last day of the tax year, the amount in the table applies to each taxpayer on a joint return. Mark Correct Boxes on PIT-1 Return If you or your spouse are 65 years of age or older, on page 1 of PIT-1 mark boxes 1d and 2d. If you or your spouse are blind for federal income tax purposes, mark boxes 1c and 2c. If the boxes are not marked correctly, the Department denies this exemption on the Schedule PIT-ADJ. The Department at some time may request proof that you or, if applicable, your spouse are blind for federal purposes. Do not attach the proof to your return. NOTE: The Department allows only one deduction per person. You cannot take deductions for being both 65 or older and blind. EXAMPLE: A married couple files jointly and both people are 65 or older. Their federal adjusted gross income is $35,000. According to Table 1, the exemption amount is $12,000 or $6,000 x 2. If the same couple is also blind, the exemption is still $12,000. EXAMPLE: A married couple files jointly. The primary tax- payer is 65 and the spouse is 45 and blind. Their federal adjusted gross income is $28,000. According to Table 1, the exemption is $16,000 or $8,000 x 2. LINE 14. Exemption for New Mexico Medical Care Sav- ings Account If you or your spouse are enrolled in a New Mexico Medical Care Savings Account (NMMSA) established by an employer, and during 2023 you made or received contributions to the account or made or received distributions from the account, you may be entitled to claim a New Mexico medical care savings account exemption. An NMMSA is a tax-exempt trust or custodial account set up by a self-employed individual or a small employer who maintains a high-deductible individual or family health plan. The funds from the NMMSA are used to pay the employee’s unreimbursed medical care expenses. To qualify for the exemption, the qualified contributions or distributions must be included in your federal taxable income. When You Can Claim This Exemption If the following are included in your federal adjusted gross income, they are exempt from New Mexico income tax and reported on line 14: • Principal contributed to an NMMSA • Interest earned on an NMMSA • Money paid for eligible medical expenses from funds in an NMMSA • Money advanced to the employee by the employer for eligible medical expenses, according to the Medical Care Savings Account Act Do not include excess contributions, unqualified distributions, or money rolled over into another NMMSA. When You Cannot Claim This Exemption PIT-ADJ ADJ-5 www.tax.newmexico.gov

Generally, qualified contributions and earnings are excluded, exempted, or deducted from federal adjusted gross income and distributions paid for eligible medical expenses are ex- cluded, exempted, or deducted from federal taxable income. If your qualified contribution or distribution is excluded, ex- empted, or deducted from federal taxable income, you may not claim the exemption from New Mexico taxable income. LINE 15. Deduction for contributions to a New Mexico- approved Section 529 college savings plan The New Mexico Education Trust Fund is an account in one of the New Mexico-approved Section 529 college savings plans. You can deduct contributions you made to the fund during the tax year for each beneficiary. Contributions include the principal and earnings of amounts rolled over to a New Mexico-approved Section 529 college savings plan account from a non-New Mexico-approved Section 529 college sav- ings plan. A taxpayer and spouse who file separate returns (filing status is married filing separately) may each claim one-half of the deduction allowed on a joint return. NOTE: You may only deduct contributions to a Section 529 plan established and approved by the New Mexico Education Trust Board. See Quick Guide 6, New Mexico Income Tax and Your Education Trust (529) Plan, on the Department’s website. LINE 16. Net capital gains deduction You may deduct all or part of your net capital gains reported and claimed on your federal tax return. You may deduct the greater of: • 100% of your net capital gains, not to exceed $1,000; or • 40% of your net capital gains. For purposes of this deduction, “net capital gains” are defined by Section 1222(11) of the Internal Revenue Code as the excess of net long-term capital gains over short-term capital losses for the tax year. “Net capital gains” do not include short-term capital gains.” A taxpayer and spouse who file separate returns (filing status is married filing separately) may each claim only one-half of the net capital gains deduction allowed on a joint return. IMPORTANT: You may not claim the net capital gains de- duction in addition to credit provided by the Venture Capital Investments Act. LINE 17. Active duty pay for United States armed forces. Armed forces includes the Army, Navy, Air Force, Marine Corps, and Coast Guard. “Active duty,” as defined in 37 USC 101, means full-time duty in active service. It includes the following: • Full-time training duty • Annual training duty • Full-time National Guard duty • Attendance, while in active service, at a school desig- nated as a service school by law or by the Secretary of the service If pay, wages, or salaries paid to you or your spouse for U.S. Armed Forces active duty service was included in your federal adjusted gross income on your PIT-1 return, line 9, enter the amount here. This exemption applies to residents and to non-residents of New Mexico. NOTE: If you received active duty pay from the U.S. Public Health Service (USPHS), do not enter the income on this line. See the instructions for line 22. Income Inside and Outside the State If you have income from inside and outside New Mexico, also see the instructions for 2023 Schedule PIT-B, lines 1 and 11. LINE 18. Medical care expense exemption for persons age 65 years or older If you or your spouse are 65 years of age or older, and you paid unreimbursed and uncompensated medical care ex- penses of $28,000 or more during tax year 2023, you may be eligible to claim an exemption of $3,000. If you meet the following qualifications and your expenses are allowed (see the next paragraph), enter $3,000 on line 18 to claim the exemption: • This exemption is for medical care expenses for the care of any combination of you, your spouse, or your dependents. • The exemption is allowed for out-of-state residents with an income tax responsibility to New Mexico. Types of Medical Expenses Allowed The types of medical expenses you may include are de- scribed in PIT-1 instructions for line 16, page 27, with one exception. You may include unreimbursed and uncom- pensated medical care expenses included in the itemized deductions on federal Schedule A. The unreimbursed and uncompensated medical care ex- penses used to compute this exemption include all qualified expenses used to calculate the refundable medical care credit for persons 65 or older reported on Schedule PIT-RC, line 23. You may also include unreimbursed and uncompensated medical care expenses used to compute the medical care expense deduction claimed on PIT-1, line 16. Attach PIT-RC If you are eligible to claim this exemption, you are also eligible to claim the refundable medical care credit for persons 65 years or older reported on Schedule PIT-RC, line 23. This gives you an additional tax benefit. To claim that tax credit, complete and attach Schedule PIT-RC to your return. PIT-ADJ ADJ-6 www.tax.newmexico.gov

LINE 19. Deduction for organ donation-related expenses Enter any human organ donation-related expenses, including lost wages, lodging expenses, and travel expenses for you or your dependent, not to exceed $10,000. The expenses must have been incurred during the tax year by you or your dependent as a result of the donation of a human organ to another person. Definition of Human Organs “Human organs” means: all or part of a heart, liver, pancreas, kidney, intestine, lung, or bone marrow. A taxpayer and spouse who file separate returns (filing status is married filing separately) may each claim only one-half of the deduction (or exemption) allowed on a joint return. LINE 20. New Mexico National Guard member life insur- ance reimbursements tax exemption If you receive a reimbursement from the National Guard Service Member’s Life Insurance Reimbursement Fund, you may claim a personal income tax exemption in the amount of the reimbursement. The New Mexico Office of Military Affairs issues the reim- bursement and sends each recipient a Form 1099-MISC for the reimbursement. Attach Form 1099-MISC If you claim a New Mexico National Guard member life in- surance reimbursements tax exemption, attach Form 1099- MISC to your return to support your exemption. LINE 21. Taxable refunds, credits, or offsets of state and local income taxes from federal Schedule 1, line 1. For tax years beginning on or after January 1, 2011, a deduc- tion is allowed for the amount you entered on the current year federal Schedule 1, line 1, for Taxable refunds, credits or offsets of state and local income taxes. To qualify, you must have itemized your deductions and included these refunds, credits, or offsets in adjusted gross income on a prior year federal Schedule A. You are required to report the taxable refunds credits or offsets of state and local income taxes on your 2023 federal Schedule 1. LINE 22. Non-resident U.S. Public Health Service mem- bers’ active duty pay Enter the amount of income earned in New Mexico for active duty in the USPHS only if you are a non-resident of New Mexico. If you changed residency or domicile to or from New Mexico during the tax year, enter only the pay you earned while you were a non-resident of New Mexico. This exemption applies only to non-residents of New Mexico. Income Inside and Outside the State If you have income from inside and outside New Mexico, also see the instructions for 2023 Schedule PIT-B, lines 1 and 11. The spouse who moves to New Mexico for the sole purpose of being with their spouse, who is on active duty with the U.S. Public Health Service, may be eligible to allocate and apportion their income from services performed to their state of domicile. In the instructions for PIT-B, see Income and Residency of Military Servicemember’s Spouse. LINE 23. Liquor license lessor deduction. Enter the amount of deduction from net income for which you qualify, not to exceed $50,000. To qualify, a taxpayer who is a liquor license lessor and who held the license on June 30, 2021 may claim a deduction from net income in an amount equal to the gross receipts from sales of alcoholic beverages made by each liquor license lessee in an amount, if the liquor license is a dispenser’s license and sales of alcoholic beverages for consumption off premises are less than fifty percent of total alcoholic bever- age sales, not to exceed fifty thousand dollars ($50,000) for each of four taxable years prior to January 1, 2026. A taxpayer and spouse who file separate returns (filing status is married filing separately) may each claim only one-half of the deduction allowed on a joint return. Deduction amount not to exceed twenty-five thousand dollars ($25,000). A taxpayer with ownership interest in a business, taxed for federal income tax purposes as a partnership or limited liabil- ity company which meets the requirements of this deduction, may claim a portion of the credit not to exceed the amount allowed had the deduction been claimed by a sole owner. Combined deduction amount not to exceed fifty-thousand dollars ($50,000). Legislation Update: HB-163 (2022) enacted an exemption for armed forces retirement pay and an exemption for social security income. If you have armed forces retirement pay or social security income you may qualify for Line 24 or Line 25. LINE 24. Exemption for armed forces retirement pay. Enter the amount of deduction from net income for which you qualify, from the Table 2. Table 2. Armed Forces Retirement Tax Year Allowed Exemption per qualified individual 2022 $10,000 2023 $20,000 2024 $30,000 2025 $30,000 2026 $30,000 To qualify for this exemption, the taxpayer must be an armed forces retiree. Each qualifying armed forces retiree is entitled to claim an exemption in the above amount against their military retirement pay which is included in their net income. If you are married filing joint and both spouses qualify, each qualifying armed forces retiree is entitled to claim an exemp- tion in the above amount against their military retirement pay PIT-ADJ ADJ-7 www.tax.newmexico.gov

which is included in their net income. “Armed forces retiree” means a former member of the armed forces of the United States who has qualified by years of service or disability to separate from military service with lifetime benefits. LINE 25. Exemption for social security income. Enter the amount of social security income included in your Adjusted Gross Income (AGI) up to the AGI listed in Table 3 based on your filing status from PIT-1, line 7. Table 3. Social Security Income Filing Status AGI Single $100,000 Married Filing Separate $75,000 Married Filing Joint, Head of Household, and Surviving Spouse $150,000 Example 1. Taxpayer A is filing single and has an AGI of $99,500 which includes social security income of $80,000. The taxpayer is able to claim an exemption for the $80,000 since their AGI is not above $100,000. Example 2. Taxpayer B is filing single and has an AGI of $150,000 which includes social security income of $80,000 the taxpayer does not qualify for the social security exemp- tion because their AGI is over the $100,000 maximum for their filing status. LINE 26. Deduction for certain expenses related to a New Mexico licensed cannabis business Enter the amount equal to any expenditure that is eligible to be claimed as a federal income tax deduction but is disal- lowed by Section 280E of the Internal Revenue Code, as that section may be amended or renumbered. PIT-ADJ ADJ-8 www.tax.newmexico.gov

2023 2023 Personal Income Tax Personal Income Tax Form Packet Form Packet New Mexico Taxation and Revenue Department 1-866-285-2996 DUE DATES File by Paper: April 15, 2024 File and Pay Electronically: April 30, 2024 Consider filing your return electronically or checking on the status of your refund by visiting the Department Taxpayer Access Point (TAP) website at https://tap.state.nm.us. You can view all forms, instructions, publications, bulletins, fyi's, and brochures on our website: http://www.tax.newmexico.gov. Packet Contents Forms/Instructions Payment Vouchers • PIT-1 • PIT-B • PIT-PV (2023) • PIT-S • PIT-CR • PIT-EXT (2023) • PIT-ADJ • PIT-X • PIT-ES (2023) • PIT-RC • PIT-ES (2024)

New Mexico Gross Receipts Tax If you are self-employed, run a business out of your home, or work for someone else but do not have wage taxes withheld, you may be required to register for gross receipts tax with the Department. Businesses that sell or lease goods and other tangible property or perform services in New Mexico may be subject to New Mexico gross receipts tax. All businesses having a gross receipts tax reporting obligation must register with the New Mexico Taxation and Revenue Department to obtain a New Mexico Tax Identification Number (NMBTIN). Tax reporting forms and instructions are available on the Department website, https://www.tax.newmexico.gov/forms-publications/. Legislative Changes The Department provides a Legislative Summary Bulletin under Publications on the Forms & Publications page of our web- site: https://www.tax.newmexico.gov/forms-publications/. The 2023 Session had several changes to Income Tax including: • Child Income Tax Credit (HB-547) - increases the amount of the child income tax credit for certain income levels • Pass-Through Entity Tax Credit (HB-368) - creates a credit applied to personal income tax. Additional information regarding legislative changes can be located in LS-2023 Legislative Summary. REFUND How To Check the Status of Your Refund: The status of a refund is available at New Mexico's Taxpayer Access Point (TAP) website at: https://tap.state.nm.us. Under PERSONAL INCOME, click Where's My Refund? Then enter your ID Type (Social Security Number or Individual Taxpayer Identification Number), ID number, and refund amount. You are not required to register to use this service. When To Call About Your Refund: Before calling about your refund, please allow time for the Department to process your refund claim. Generally, electronically filed returns claiming a refund are processed in 6 to 8 weeks. A paper return claiming a refund takes 8 to 12 weeks to process. If sufficient time has passed for your return to be processed, access TAP for ad- ditional information or contact us at 1(866) 285-2996. What You Need: When you call or visit us on the web, make sure to have a copy of your tax return and related information. Free Electronic Filing with Taxpayer Access Point (TAP) New Mexico Taxation And Revenue Department encourages all New Mexicans to file their tax returns safely and securely online. Not only will you receive your refund check faster, but we can also deposit your refund check directly into your per- sonal checking or savings account. If speed and convenience isn’t enough, you have until April 30, 2024 to e-file your tax return when you also electronically pay your tax. You can now claim most credits on your tax return when e-filing by using the attachment function in TAP to attach claim forms and other required documents. TAP users can amend returns, make payments, and view past letters sent by the Department. Take advantage of this free and easy service by signing up for TAP today at https://tap.state.nm.us. If you need technical support or have e-filing issues when using TAP, send an email to TRD-Tap-TechnicalHelp@state.nm.us. Where to Mail Your Paper Return and Payment To expedite processing of returns and payments there are two addresses. There is an address to mail your return and pay- ment and an address to mail your return without payment. Please be sure to use the correct mailing address as to not delay the processing of your return. • Return with payment: NM Taxation and Revenue Dept. P.O. Box 8390 Santa Fe, NM 87504-8390 • Payments without a return: NM Taxation and Revenue Dept. P.O. Box 8390 Santa Fe, NM 87504-8390 • Return with refund due: NM Taxation and Revenue Dept. P.O. Box 25122 Santa Fe, NM 87504-5122 • Return without payment: NM Taxation and Revenue Dept. P.O. Box 25122 Santa Fe, NM 87504-5122 www.tax.newmexico.gov Payment Plans on Taxpayer Access Point (TAP) New Mexico Taxation and Revenue Department understands that making a full payment for outstanding tax liabilities may not be possible. Taxpayers who have an outstanding debt with the New Mexico Taxation and Revenue Department can cre- ate and enter into a payment plan on their own using TAP. We offer flexible terms to meet the needs of eligible taxpayers. More information is available on TAP https://tap.state.nm.us. Taxpayers will see the option once they have logged into their TAP account.

PIT-1

www.tax.newmexico.gov Table of Contents 1 Personal Income Tax (PIT) Packet Table of Contents Instructions for 2023 PIT-1 �.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���PIT-1-1 Contacting the Department���������������������������������������������������������������������������������������������������������������������PIT-1-1 How To Check the Status of Your Refund ���������������������������������������������������������������������������������������������PIT-1-1 Forms and Instructions���������������������������������������������������������������������������������������������������������������������������PIT-1-1 Filing Due Date���������������������������������������������������������������������������������������������������������������������������������������PIT-1-1 Online Services �������������������������������������������������������������������������������������������������������������������������������������PIT-1-1 Other Places That Offer Help�����������������������������������������������������������������������������������������������������������������PIT-1-1 General Instruction �������������������������������������������������������������������������������������������������������������������������������PIT-1-2 Who Must file�����������������������������������������������������������������������������������������������������������������������������������������PIT-1-2 New Mexico Residents���������������������������������������������������������������������������������������������������������������������������PIT-1-2 Non-Residents���������������������������������������������������������������������������������������������������������������������������������������PIT-1-2 Military Servicemembers �����������������������������������������������������������������������������������������������������������������������PIT-1-2 Members of Indian Nations, Tribes, or Pueblos�������������������������������������������������������������������������������������PIT-1-3 Definitions�����������������������������������������������������������������������������������������������������������������������������������������������PIT-1-4 Domicile�������������������������������������������������������������������������������������������������������������������������������������������������PIT-1-4 Resident�������������������������������������������������������������������������������������������������������������������������������������������������PIT-1-4 First-Year Resident���������������������������������������������������������������������������������������������������������������������������������PIT-1-4 Part-Year Resident���������������������������������������������������������������������������������������������������������������������������������PIT-1-4 Non-Resident�����������������������������������������������������������������������������������������������������������������������������������������PIT-1-5 Additional Considerations�����������������������������������������������������������������������������������������������������������������������PIT-1-5 Residents Domiciled in Another State �������������������������������������������������������������������������������������������������������PIT-1-5 Refunds, Rebates, and Credits �������������������������������������������������������������������������������������������������������������PIT-1-5 Non-Residents and Royalty Income�������������������������������������������������������������������������������������������������������PIT-1-5 Representatives of Deceased Taxpayers�����������������������������������������������������������������������������������������������PIT-1-5 Refunds. �����������������������������������������������������������������������������������������������������������������������������������������������PIT-1-6 Pass-Through Entities and S-Corporations�������������������������������������������������������������������������������������������PIT-1-6 Estates and Trusts���������������������������������������������������������������������������������������������������������������������������������PIT-1-6 Community Property and Division of Income�����������������������������������������������������������������������������������������PIT-1-6 Married Filing Separately�����������������������������������������������������������������������������������������������������������������������PIT-1-6 Innocent or Injured Spouse Relief ���������������������������������������������������������������������������������������������������������PIT-1-7 Filing Methods ���������������������������������������������������������������������������������������������������������������������������������������PIT-1-7 Filing On Paper Or Filing Electronically�������������������������������������������������������������������������������������������������PIT-1-7 Benefits of Filing Electronically���������������������������������������������������������������������������������������������������������������PIT-1-7 Where To Get Paper Tax Forms�������������������������������������������������������������������������������������������������������������PIT-1-7 Using Tax Software���������������������������������������������������������������������������������������������������������������������������������PIT-1-7 About Electronic Filing���������������������������������������������������������������������������������������������������������������������������PIT-1-8 Using The Department Website, Taxpayer Access Point (TAP)���������������������������������������������������������������PIT-1-8 Using The Federal/State Electronic Filing Program�������������������������������������������������������������������������������PIT-1-9 Required Forms And Attachments���������������������������������������������������������������������������������������������������������PIT-1-9 PIT-1 Required���������������������������������������������������������������������������������������������������������������������������������������PIT-1-9 PIT-S For Over 5 Dependents Or Other Dependents�����������������������������������������������������������������������������PIT-1-9 PIT-ADJ To Adjust Income���������������������������������������������������������������������������������������������������������������������PIT-1-9 PIT-RC To Claim Refundable Credits �������������������������������������������������������������������������������������������������PIT-1-10 PIT-B To Allocate And Apportion Income���������������������������������������������������������������������������������������������PIT-1-10 PIT-D To Donate Overpayment �����������������������������������������������������������������������������������������������������������PIT-1-10 PIT-CR To Claim Non-Refundable Credits�����������������������������������������������������������������������������������������������PIT-1-10 Payment Vouchers�������������������������������������������������������������������������������������������������������������������������������PIT-1-10 PIT-X For Amended Returns ���������������������������������������������������������������������������������������������������������������PIT-1-12 Other Forms Or Attachments You Might Need To File�������������������������������������������������������������������������PIT-1-12 When And Where To File And Pay�������������������������������������������������������������������������������������������������������PIT-1-14 Where To Mail Paper Returns and Payments �������������������������������������������������������������������������������������PIT-1-14 How To Pay �����������������������������������������������������������������������������������������������������������������������������������������PIT-1-14 Extension Of Time To File���������������������������������������������������������������������������������������������������������������������PIT-1-15 Interest And Penalties���������������������������������������������������������������������������������������������������������������������������PIT-1-15 Interest�������������������������������������������������������������������������������������������������������������������������������������������������PIT-1-15 Negligence Penalty for Late Filing or Late Payment ���������������������������������������������������������������������������PIT-1-15 Penalties For Fraudulent Returns And Other Reasons �����������������������������������������������������������������������PIT-1-16 Civil Penalties���������������������������������������������������������������������������������������������������������������������������������������PIT-1-16 Criminal Penalties���������������������������������������������������������������������������������������������������������������������������������PIT-1-16

PIT-1

www.tax.newmexico.gov Table of Contents 2 Personal Income Tax (PIT) Packet Table of Contents Returned Check Penalty�����������������������������������������������������������������������������������������������������������������������PIT-1-16 Paid Tax Preparers Requirement to Ensure Returns are Filed Electronically���������������������������������������������������PIT-1-16 Your Rights Under The Tax Law�����������������������������������������������������������������������������������������������������������PIT-1-17 Your Rights�������������������������������������������������������������������������������������������������������������������������������������������PIT-1-17 About Your Tax Return Information�������������������������������������������������������������������������������������������������������PIT-1-17 Keep Copies Of Your Tax Records And Returns ���������������������������������������������������������������������������������PIT-1-17 Privacy Notification�������������������������������������������������������������������������������������������������������������������������������PIT-1-17 Federal/State Tax Agreement���������������������������������������������������������������������������������������������������������������PIT-1-17 Treasury Offset Program ���������������������������������������������������������������������������������������������������������������������PIT-1-17 Outside Collection Agencies�����������������������������������������������������������������������������������������������������������������PIT-1-18 What To Know And Do Before You Begin���������������������������������������������������������������������������������������������PIT-1-18 Withholding On Certain Government Pensions�����������������������������������������������������������������������������������PIT-1-20 Line Instructions For Form PIT-1 ���������������������������������������������������������������������������������������������������������PIT-1-20 Residency Status���������������������������������������������������������������������������������������������������������������������������������PIT-1-21 Paying Your Tax Liability�����������������������������������������������������������������������������������������������������������������������PIT-1-36 Before Filing Your Return���������������������������������������������������������������������������������������������������������������������PIT-1-36 Recommendations For Filing Your Return�������������������������������������������������������������������������������������������PIT-1-37 Instructions for 2023 PIT-ADJ .���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.�ADJ-1 General Information���������������������������������������������������������������������������������������������������������������������������������ADJ-1 Additions to Federal Adjusted Gross Income �����������������������������������������������������������������������������������������ADJ-1 Deductions and Exemptions from Federal Adjusted Gross Income ���������������������������������������������������ADJ-1 Preparing Your Schedule PIT-ADJ�����������������������������������������������������������������������������������������������������������ADJ-2 Detailed Instructions For Each Line���������������������������������������������������������������������������������������������������������ADJ-2 Instructions for 2023 PIT-RC ��.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���RC-1 General Information����������������������������������������������������������������������������������������������������������������������������������RC-1 Qualifications for Credits and Rebates Reported in Sections 2 to 5 ��������������������������������������������������������RC-2 Low Income Comprehensive Tax Rebate��������������������������������������������������������������������������������������������������RC-5 Property Tax Rebate for Persons 65 or Older ������������������������������������������������������������������������������������������RC-5 Additional Low Income Property Tax Rebate for Los Alamos County, Santa Fe County, and Doña Ana County Residents Only������������������������������������������������������������������������������������������������������������RC-6 New Mexico Child Day Care Credit����������������������������������������������������������������������������������������������������������RC-7 Residency Requirement����������������������������������������������������������������������������������������������������������������������������RC-8 Caregiver Qualifications����������������������������������������������������������������������������������������������������������������������������RC-8 Refundable Tax Credits������������������������������������������������������������������������������������������������������������������������������RC-9 Instructions for 2023 PIT-B .���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.�B-1 General Information�������������������������������������������������������������������������������������������������������������������������������������B-1 Residency Definitions�����������������������������������������������������������������������������������������������������������������������������������B-1 Allocated Income�����������������������������������������������������������������������������������������������������������������������������������������B-1 Apportioned Income�������������������������������������������������������������������������������������������������������������������������������������B-1 Community Income �������������������������������������������������������������������������������������������������������������������������������������B-1 Information About Community and Separate Income�����������������������������������������������������������������������������������B-1 Allocation of Community and Separate Income�������������������������������������������������������������������������������������������B-1 New Mexico Resident Spouses�������������������������������������������������������������������������������������������������������������������B-2 Non-Resident Spouses���������������������������������������������������������������������������������������������������������������������������������B-3 Part-Year or First-Year Residents�����������������������������������������������������������������������������������������������������������������B-3 Line A and B�������������������������������������������������������������������������������������������������������������������������������������������������B-3 INSTRUCTIONS FOR 2023 PIT-D .���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.�D-1 Donating Money From Your Refund�������������������������������������������������������������������������������������������������������������D-1 Instructions for 2023 PIT-CR �.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���CR-1 General Information����������������������������������������������������������������������������������������������������������������������������������CR-1 About Eligibility and Approval Requirements��������������������������������������������������������������������������������������������CR-1 Tax Credit Types����������������������������������������������������������������������������������������������������������������������������������������CR-2 Affordable Housing Tax Credit (A01) ��������������������������������������������������������������������������������������������������������CR-2 Angel Investment Credit (A02)������������������������������������������������������������������������������������������������������������������CR-2

PIT-1

www.tax.newmexico.gov Table of Contents 3 Personal Income Tax (PIT) Packet Table of Contents Advanced Energy Tax Credit (A04) ����������������������������������������������������������������������������������������������������������CR-3 Agricultural Biomass Tax Credit (A05)������������������������������������������������������������������������������������������������������CR-3 Film Production Tax Credit (F01)��������������������������������������������������������������������������������������������������������������CR-3 Foster Youth Employment Income Tax Credit (F02)����������������������������������������������������������������������������������CR-4 New Film Production Tax Credit (F03)������������������������������������������������������������������������������������������������������CR-4 New Mexico Film Partner New Film Production Tax Credit (F04) ������������������������������������������������������������CR-5 Geothermal Ground-Coupled Heat Pump Tax Credit (G01)����������������������������������������������������������������������CR-5 Job Mentorship Tax Credit (J01)����������������������������������������������������������������������������������������������������������������CR-5 Land Conservation Incentives Credit (L01) ����������������������������������������������������������������������������������������������CR-6 Preservation Of Cultural Property Credit (P01) ����������������������������������������������������������������������������������������CR-6 Rural Job Tax Credit (R01)������������������������������������������������������������������������������������������������������������������������CR-6 Rural Health Care Practitioners Tax Credit (R02)��������������������������������������������������������������������������������������CR-7 Renewable Energy Production Tax Credit (R03)��������������������������������������������������������������������������������������CR-8 Solar Market Development Tax Credit (S01)��������������������������������������������������������������������������������������������CR-8 Sustainable Building Tax Credit (S02)������������������������������������������������������������������������������������������������������CR-8 2015 Sustainable Building Tax Credit (S03)����������������������������������������������������������������������������������������������CR-8 New Solar Market Development Tax Credit (S04)������������������������������������������������������������������������������������CR-9 Technology Jobs And Research And Development (Additional) Tax Credit (T02)����������������������������������CR-10 Instructions for 2023 PIT-ES.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���ES-1 Who Must Pay Estimated Taxes?���������������������������������������������������������������������������������������������������������������ES-1 Tax Estimation Methods�����������������������������������������������������������������������������������������������������������������������������ES-1 How Much Do You Need To Pay? �������������������������������������������������������������������������������������������������������������ES-1 Exceptions For Estimated Payment Amounts And Timing�����������������������������������������������������������������ES-1 Penalty For Underpayment Or Non-Payment Of Estimated Tax Payments�����������������������������������������������ES-2 More Information And Help�������������������������������������������������������������������������������������������������������������������������ES-2 Methods Of Payment���������������������������������������������������������������������������������������������������������������������������������ES-3 Where To Get The Voucher�����������������������������������������������������������������������������������������������������������������������ES-3 Completing And Submitting The Voucher And Payment���������������������������������������������������������������������������ES-3 2023 Tax Rate Table�.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.��T-1 INSTRUCTIONS FOR 2023 PIT-X.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.���.��X-1

File online for free using the Department's Taxpayer Access Point (TAP) at: https://tap.state.nm.us The Department encourages taxpayers to file electronically when possible. Filing your return online allows for faster return processing which can result in quicker refunds.

CONTACTING THE DEPARTMENT How To Check the Status of Your Refund The status of a refund is available at the New Mexico’s Taxpayer Access Point (TAP) website at https://tap.state. nm.us. Under PERSONAL INCOME, click Where’s My Re- fund? Then enter your ID Type (Social Security Number or Individual Taxpayer Identification Number), ID Number, and refund amount. You are not required to register with TAP in order to use this service. When to Call If you don’t see the status of your refund using these methods, refer to the processing times below. Processing times: • Electronically filed returns are generally processed within 8 to 12 weeks or less. • Paper returns or applications for a tax refund are gener- ally processed within 12 weeks but can take longer. • Please allow 12 weeks from the submission date before calling the Department. Note: The Taxation and Revenue Department employs rigor- ous methods to combat identity theft and refund fraud. Pre- venting identity theft and refund fraud causes some refunds to require additional processing time, and additional docu- mentation may be required to verify your refund claim. Phone Contact If sufficient time has passed for your return to be pro- cessed contact us at (866) 285-2996. You may also visit TAP, https://tap.state.nm.us. What You Need When you call or visit us on the web, make sure to have a copy of your tax return and related information. Mailing Address If you want to write us about your return, please address your letter to: Personal Income Tax Correspondence Taxation and Revenue Department P. O. Box 25122 Santa Fe, NM 87504-5122 If you write us for information or to order forms after April 1, do not expect to receive the forms or a response before the due date of the PIT-1. Email Contacts The Taxation and Revenue Department provides several email contacts for you. To send an email on a specific tax topic directly to the Depart- ment’s specialists for that topic, go to www.tax.newmexico. gov. At the top right of the page, click CONTACT US. If you have questions about your in-progress Personal In- come Tax (PIT) return, the instructions, a return you already submitted, or your refund, email: TRD.TaxReturnHelp@tax. nm.gov. If you have questions about New Mexico tax law and need additional clarification on statutes and regulations, email: Policy.Office@tax.nm.gov. Forms and Instructions You can find PIT forms and instructions on our website at www.tax.newmexico.gov. At the top of the page, click FORMS & PUBLICATIONS. Filing Due Date Paper filers: If you file by paper or pay by check your filing due date is on or before April 15, 2024. Electronic filers: If you file and pay your New Mexico Personal Income Tax return online, your due date is April 30, 2024. Important: If the April due date falls on a weekend or observed holiday, your return is due on or before the next business day. Online Services The TAP website at https://tap.state.nm.us is a secure online resource that lets you electronically file your return for free: • See information about your return, payment, and refund • Pay existing tax liabilities online • Check the status of a refund • Change your contact information • Register a business Other Places That Offer Help Help preparing your tax return may be available from: • Tax Help New Mexico. A free service for people whose household income is $53,000 or less or those who are 65 years or older. • American Association of Retired Persons (AARP). • Some senior citizens’ centers. Contact the center for dates and times. • Some social service agencies. They either provide help or direct you to other free or low-cost tax preparation as- sistance programs. • Software preparation services or a tax preparer. For more information about tax help for senior citizens and low-income filers, please visit www.tax.newmexico.gov. At the top of the page, click FORMS & PUBLICATIONS, select Quick Guides (Formerly Brochures) from the Publications folder. • For the senior citizen quick guide, click Quick Guide 1 . • For the low-income quick guide, click Quick Guide 2 INSTRUCTIONS FOR 2023 PIT-1 NEW MEXICO PERSONAL INCOME TAX RETURN PIT-1 PIT-1-1 www.tax.newmexico.gov

WHO MUST FILE Who Must File A PIT-1 Return New Mexico’s law says every person who meets both the following conditions must file a PIT-1: • Every person who is a New Mexico resident or has income from New Mexico sources. • Every person who is required to file a federal income tax return. This section covers the following: • New Mexico Residents; • Non-Residents; • Military Servicemembers; • General Information About Military Servicemembers’ Spouses; • Non-resident Military Spouse Who Lives in New Mexico; • Resident Military Spouse Who Lives in Another State; and • Members of New Mexico Federally Recognized Indian Nations, Tribes, or Pueblos. New Mexico Residents If you are a New Mexico resident, you must file a New Mexico return if you meet any of the following conditions: • You are required to file a federal return. • You want to claim a refund of any New Mexico state income tax withheld from your pay. • You want to claim any New Mexico rebates or credits. Non-Residents If you are a non-resident, including a foreign national or a person who resides in a state without income taxes, you must file in New Mexico when both the following are true: • You are required to file a federal return. • You have income from any New Mexico source whatso- ever. Military Servicemembers If you are a member of the United States Armed Forces, your income may be taxable to New Mexico and you must file a resident return if both the following are true: • You were domiciled in New Mexico at the time of enlist- ment. • You have not changed your domicile for purposes of withholding state income tax from military pay. NOTE: Military servicemembers may claim a deduction for military active duty pay included in federal adjusted gross income. If your permanent home (domicile) was in New Mexico when you entered the military, and you kept New Mexico as your domicile for state withholding tax purposes, even if you are presently serving outside New Mexico, you must file a New Mexico resident return. If your permanent home (domicile) was in New Mexico when you entered the military, but you have established domicile in another state and changed your legal residence for with- holding state income tax, your military pay is not subject to New Mexico income tax. If you are an enrolled member of a New Mexico federally recognized Indian nation, tribe, or pueblo, your military pay is exempt when your home of record and domicile is within the boundaries of the member’s reservation or pueblo grant or within the boundaries of land defined as “Indian country” and the legal residence for state withholding tax purposes has not been changed. If you are a non-resident, a United States Public Health Service (USPHS) servicemember, and you earned income in New Mexico for USPHS active duty, your pay is exempt from New Mexico taxes. General Information About Military Servicemembers’ Spouses Beginning with tax year 2018, the Veterans Benefits and Transition Act allows a military servicemember’s spouse who moves to a state solely to be with their spouse who is there because of military orders, to keep their out-of-state residency status and domicile. They may source their non-military wages, salaries, tips and other income from services performed to their chosen state of domicile instead of the state where the income is earned. For tax purposes, this can be either the domicile state that the servicemember claims or the state in which the service- member’s spouse has established domicile. The following restrictions apply to servicemembers and their spouses: • Servicemembers must have declared domicile in the other state. • Servicemembers must be in the state in compliance with military orders. • Servicemembers’ spouses must be in the state solely to be with their spouses. NOTE: Non-resident servicemembers must continue to al- locate non-military income from services performed to the state where the income was earned. Non-Resident Military Spouse Who Lives in New Mexico If you are a non-resident of New Mexico who is a qualifying servicemember’s spouse living in New Mexico, complete a New Mexico PIT-1 as a non-resident taxpayer and allocate on Schedule PIT-B income from services performed in New INSTRUCTIONS FOR 2023 PIT-1 GENERAL INSTRUCTION PIT-1 PIT-1-2 www.tax.newmexico.gov

Mexico to your state of residence. See instructions for PIT-B. A military servicemember’s spouse eligible to claim an ex- empt New Mexico withholding status, based on the Veterans Benefits and Transition Act, must annually submit Form RPD-41348, Military Spouse Withholding Tax Exemption Statement, to the employer or payor responsible for with- holding New Mexico tax. Keep a copy of RPD-41348, signed by the employer or payor, in your tax records. Your employer or payor must sign a new RPD-41348: • Annually or • When servicemember’s situation changes. Do not submit RPD-41348 with your PIT-1 unless the De- partment requests a copy. Resident Military Spouse Who Lives in Another State If you are a resident of New Mexico who is a qualifying servicemember’s spouse living in another state, com- plete PIT-1 as a resident taxpayer and allocate wages, salaries, tips, and other income from services performed on Schedule PIT-B, as if from New Mexico sources. Do this even if the income was earned in another state. For more details, see Form RPD-41348,Guidance for New Mexico Resident Military Spouses Claiming Re- lief From Another State’s Income and Withholding Tax Requirements. To access forms for resident and non-resident military spous- es, go to https://www.tax.newmexico.gov/forms-publications/ and select the following items in this order: • Income Taxes; • Personal Income Tax (PIT) - Current Year; • Other PIT-Related Forms, • RPD-41348 Guidance, or • RPD-41348 If you are a part-year or first-year New Mexico resident who is a qualifying servicemember’s spouse, allocate income from services performed in New Mexico to New Mexico during periods when you were a resident of New Mexico. Members of Indian Nations, Tribes, or Pueblos The income of Indians who worked or are domiciled outside the boundaries of the reservation or pueblo grant or out- side the boundaries of land defined as “Indian country” of which they are members is subject to New Mexico personal income tax. You do not need to file a New Mexico income tax return if both the following are true: • You are an enrolled member of a New Mexico federally recognized Indian nation, tribe, or pueblo who is domi- ciled within the boundaries of the member’s reservation or pueblo grant or within the boundaries of land defined as “Indian country” of the New Mexico federally recog- nized Indian nation, tribe, or pueblo where you or your spouse are/is a member. • Your entire income was earned from work within the boundaries of the member’s reservation or pueblo grant or within the boundaries of land defined as “Indian coun- try”. If you are the spouse of an enrolled member who is domiciled and works within the boundaries of the member’s reserva- tion or pueblo grant or within the boundaries of land defined as “Indian country”, your income is taxable unless you are also a member of a New Mexico federally recognized Indian nation, tribe, or pueblo. The term “land defined as “Indian country”” is used in these instructions pursuant to 18 U.S.C. Section 1151, as that section may be amended or renumbered, for that nation, tribe, or pueblo. Military Pay. If you are an enrolled member of a New Mexico federally recognized Indian nation, tribe, or pueblo who is a servicemember, your military pay is exempt when both the following are true: • Your home of record is within the boundaries of that res- ervation or pueblo grant or within the boundaries of land defined as “Indian country”. • Your legal residence for state withholding tax purposes has not been changed. Native American Veterans Income Tax Settlement Fund. A claim for a settlement payment from the Native Americans Income Tax Settlement Fund may be made for any period of active duty in the armed forces of the United States during which the claimant: • was a member of a New Mexico federally recognized Indian nation, tribe or pueblo; • was a resident within the boundaries of the Indian member’s or the member’s spouse’s reservation or pueblo grant, or within the boundaries of lands held in trust by the United States for the benefit of the member or spouse or the member’s or spouse’s nation, tribe or pueblo; and • had New Mexico personal income tax (PIT) withheld from his or her active duty military pay, and the amount withheld has not already been refunded to the claimant or the claimant’s representative. NOTE: The Native American Veterans Income Tax Settle- ment Fund is now depleted and therefore claims may not be currently paid from this fund. For more information, see FYI-407, Taxpayer Remedies for Native American Veterans Income Tax Settlement Fund. Retirement or Pension. If you are an enrolled member of a New Mexico federally recognized Indian nation, tribe, or pueblo who is domiciled within the boundaries of your reservation or pueblo grant or within the boundaries of land defined as “Indian country”, and your retirement or pension is the result of employment within the boundaries of your reservation or pueblo grant or within the boundaries of land defined as “Indian country”, your retirement or pension in- PIT-1 PIT-1-3 www.tax.newmexico.gov

come is exempt. You may not exempt retirement or pension income from employment outside the boundaries of your reservation or pueblo grant or outside the boundaries of land defined as “Indian country”. Definitions This section gives you definitions of the following terms: • Domicile; • Resident; • First-Year Resident; • Part-Year Resident; and • Non-Resident. For most taxpayers, your resident status for income tax purposes depends on: • Where you were domiciled during the tax year, and • Whether you were physically present in New Mexico for a total of 185 days or more during the tax year. Domicile Your domicile is the place you intend as your permanent home. It is the state where your permanent home is located and where you intend to return whenever you are away (as on vacation, business assignment, educational leave, or military assignment). IMPORTANT: You can have only one domicile. Your New Mexico domicile is not changed until you can show that you have abandoned it and established a new domicile outside New Mexico. A change of domicile must be clear and convincing. Eas- ily controlled factors are not the primary factors to consider when deciding where you are domiciled. IMPORTANT: Domicile is established differently for military spouses. See page 2. If you move to a new location but intend to stay there only for a limited time (no matter how long), your domicile does not change. If your domicile is New Mexico and you go to a foreign country for a business or work assignment, or for study, research, or any other purpose, your domicile does not change unless you show that you definitely do not intend to return to New Mexico. Resident For purposes of the Income Tax Act, you are a New Mexico resident if either of the following are true: • Your domicile was in New Mexico for the entire year or; • You were physically present in New Mexico for a total of 185 days or more during the tax year, regardless of your domicile. NOTE: If you moved to New Mexico during 2023 with the intent of making New Mexico your permanent place of resi- dence, see definition of First-Year Resident. Residents include persons temporarily residing in New Mexico who plan to return to their out-of-state residence and who are physically present in New Mexico for 185 days or more. Some examples are students, people vacationing in New Mexico, and those temporarily assigned to work in New Mexico. To determine whether you were physically present in New Mexico for a total of 185 days, count each day you were here for 24 hours. For example, you reside in Texas but work in New Mexico and you were physically present in New Mexico for 185 partial days during the tax year. Because you were not here for 24 hours on any day, you are not a resident for New Mexico income tax purposes. The 185 days do not have to be consecutive. If you are a military servicemember temporarily assigned to New Mexico and you established legal residence for purposes of income tax withholding outside New Mexico, you are not a resident. If you are a spouse who accompanies the military service- member to New Mexico, no longer qualifies under the Veterans Benefits and Transition Act of 2018, and is physically present in New Mexico for 185 days or more, you must report as a resident of New Mexico. First-Year Resident You are a first-year resident if both the following are true: • You moved to New Mexico during 2023 with the intent of making New Mexico your permanent place of residence. • You are still in New Mexico on December 31, 2023. You need not have been physically present in New Mexico for at least 185 days. If you are a former New Mexico resident who returned to New Mexico and you were a non-resident for at least one full tax year, you may file as a first-year resident. First-year residents who change domicile during the year are not residents of New Mexico for income tax purposes for periods when the taxpayer’s domicile is outside New Mexico. Part-Year Resident You are a New Mexico part-year resident if you meet all of these conditions: • You were a New Mexico resident for part of the year. • You were not physically present in New Mexico for 185 days or more. • On December 31, you were no longer domiciled in New Mexico and you had moved to another state, intending to maintain domicile status in that other state. Part-year residents who change domicile during the year are PIT-1 PIT-1-4 www.tax.newmexico.gov

not residents of New Mexico for income tax purposes for periods when the taxpayer’s domicile is outside New Mexico. For example, if you moved to New Mexico during the tax year, intending to make New Mexico your permanent place of residence, your income is taxed as non-resident for the period before your move to New Mexico. Additionally, if you were a New Mexico resident for fewer than 185 days during the tax year, and before December 31 you moved to another state, intending to maintain domicile status in that other state, your income is non-resident income for periods after your move. Non-Resident You are a New Mexico non-resident if you were not domiciled in New Mexico for any part of the tax year and you were not physically present in New Mexico for at least 185 days. Military servicemembers and their qualifying spouses who are temporarily assigned to New Mexico, but who have established residence in another state, are non-residents. NOTE: Except for certain military servicemembers, certain military spouses, and first-year residents, in the Residency status box 1e on PIT‑1, page 1, mark R if you were physi- cally present in New Mexico for more than 185 days during the tax year. For income tax purposes you are a resident. Additional Considerations This section describes the following topics to consider when you prepare your PIT-1: • Residents Domiciled in Another State; • Refunds, Rebates, and Credits; • Non-Residents and Royalty Income; • Representatives of Deceased Taxpayers; • Pass-Through Entities and S Corporations; • Estates and Trusts; • Community Property and Division of Income; • Married Filing Separately; and • Innocent or Injured Spouse Relief. Residents Domiciled in Another State If you are required to file a New Mexico PIT-1 as a New Mexico resident, but you are also required to file and pay tax to another state because your domicile is in another state, complete Schedule PIT-B to allocate and apportion your income to New Mexico. Then, you can claim a credit for taxes paid to another state on PIT-1, line 20, for income taxed by both states. Refunds, Rebates, and Credits Even if you are not required to file a PIT-1, and if New Mexico income tax was withheld from your pay, the Department recommends that you file for a refund. You also may qualify for one or more rebates or credits of- fered by New Mexico. Attach Schedule PIT-RC if you are eligible to claim any of the following: • Low income comprehensive tax rebate; • Property tax rebate for persons 65 or older; • Additional low income property tax rebate for Los Alamos County, Santa Fe County, or Doña Ana County residents; or • New Mexico child day care credit. To qualify for these rebates or credits, you must meet all these requirements: • You were a resident of New Mexico during the tax year. • You were physically present in New Mexico for at least six months during the tax year. • You were not eligible to be claimed as a dependent of another taxpayer for the tax year. • You were not an inmate of a public institution for more than six months of the tax year. Additional eligibility requirements apply to other refundable rebates and credits. If you are eligible to claim any of the following, you may also use Schedule PIT-RC: • Refundable medical care credit for persons 65 or older, • Special needs adopted child tax credit, or • Refundable Nurse’s Credit. For details about eligibility requirements, see the item in the PIT-RC instructions. Non-Residents and Royalty Income If you are a non-resident and you elect to calculate tax on gross royalty income under $5,000, instead of filing a com- plete PIT-1 and PIT-B, in the box on PIT-1, line 18a, mark Y. This lets the Department know you have gross royalty income under $5,000 from New Mexico sources; you do not have any other income sourced to New Mexico; and you elected to calculate New Mexico income tax due based on the gross royalty income you received. To complete the PIT-1 return using this election, do the following: • Complete lines 1 to 8. • Leave lines 9 to 16a blank. • On line 17, enter your total gross royalty income from New Mexico sources. • Using the instructions, complete lines 18, 22 and 23, and then lines 27 to 42. When you calculate your tax based on gross royalty income, you cannot reduce your income by the standard deduction or exemption amounts, or with any credits. Representatives of Deceased Taxpayers If a taxpayer dies before filing a return for 2023, the tax- payer’s spouse or personal representative may need to file and sign a return for that taxpayer. A personal repre- sentative can be an executor, administrator, or anyone in charge of the deceased taxpayer’s property. IMPORTANT: If the deceased taxpayer is not required to be PIT-1 PIT-1-5 www.tax.newmexico.gov

entered on the federal or New Mexico return, do not enter the deceased taxpayer’s name. For example, a dependent that has no withholding. If a taxpayer did not need to file a federal return, but New Mexico income tax was withheld, the representative must file a New Mexico return to claim a refund. If a joint federal income tax return was filed for the deceased taxpayer and the surviving spouse, file a joint New Mexico return. Dates. The filing date for the return of a deceased taxpayer is the same as if the taxpayer had lived the entire year. The person who files the return for the deceased enters the month, day, and year of death on PIT-1, line 4c or 4d. A copy of the death certificate is required to be submitted with the PIT-1. Refunds. If the refund check must be made payable to someone other than the surviving spouse or to the estate of the taxpayer, enter the claimant’s name and social security number on lines 4a and 4b. If the return shows an overpayment, and you are a court-appointed or certified personal representative requiring the refund made payable to you, enter your name and social security number on lines 4a and 4b. If requesting the refund to be made payable to a person other than the taxpayer or to the estate of the taxpayer, you must attach both of the following to the taxpayer’s refund claim: • Form RPD-41083, Affidavit to Obtain Refund of New Mexico Tax Due a Deceased Taxpayer; and • A copy of the death certificate or other proof of death. Pass-Through Entities and S-Corporations Partnerships and other pass-through entities, including limited liability partnerships (LLPs) and limited liability investment companies (LLICs), are not subject to New Mexico income tax. However, individual members of the LLP or LLIC are subject to New Mexico income tax. If the entity has any partner or owner who is a New Mexico resident, or if the entity has any income from New Mexico sources, it must provide to each partner or owner the infor- mation necessary to file a New Mexico income tax return. Beginning January 1, 2011, withholding from owners and from members or partners (both of which are also considered owners) of a pass-through entity (PTE) is required. A PTE is required to withhold, from the owner’s share of the PTE’s allocable net income earned in the year, at the rate of 5.9%. The pass-through entity pays and reports the withholding on Form RPD-41367, Annual Withholding of Net Income From a Pass-Through Entity Detail Report. Certain exceptions apply to the withholding requirement. PTE records must maintain documentation to establish the PTE had reasonable cause for not withholding. A complete list of exceptions is provided in the instructions for RPD-41367. A PTE must file the annual PTE return, and an S corporation must file the S‑Corp return. For details, see the instructions for those returns. Estates and Trusts Estates and trusts are subject to New Mexico personal income tax. The fiduciary for an estate or trust files FID-1, Fiduciary Income Tax Return. Even if the estate or trust itself was not required to file a FID-1, each beneficiary of the estate or trust must include the beneficiary’s share of the estate or trust income on the New Mexico PIT-1. For details, see the instructions for FID-1. Community Property and Division of Income New Mexico is a community property state. Unless the property is separate property, all assets and liabilities ac- quired during a marriage are the community property of both spouses. Debt established during a marriage is the liability of both spouses, even after the marriage is dissolved. Debt estab- lished before or after a marriage is considered separate debt, and only 50% of community property may be pursued to clear separate debt. When a couple files married filing separately, each spouse reports 50% of community income and all income gener- ated from the separate property of the spouse who owns the property. A spouse may not need to report half of certain combined community income (such as wages, salaries, professional fees, pay for professional services, partnership income, trade or business income, and social security benefits), if all the following conditions exist: • You and your spouse lived apart all year. • You and your spouse did not file a joint return. • You and your spouse had wages, salaries, and profes- sional fees that are community income. • You and your spouse did not transfer (directly or indirect- ly) any wages, salaries, or professional fees between you and your spouse during any part of the year. If you meet all of the above criteria, report half the total of all other types of community income (such as dividends, rents, royalties, or gains). For details, see FYI-310, Com- munity Property, Divorce, Separation and Your New Mexico Income Tax. Publication FYI-310 is available at www.tax.newmexico.gov. At the top, click FORMS & PUBLICATIONS, then select FYIs from the Publications folder. Open the 300 Series- Income Taxes folder to access FYI-310. Married Filing Separately Both your New Mexico return and your federal return must show a correct division of community and separate income PIT-1 PIT-1-6 www.tax.newmexico.gov

Filing On Paper Or Filing Electronically You can file your PIT-1 on paper or electronically. Both options are described here to help you choose the most convenient method. IMPORTANT: After completing your paper or electronic return, make a copy and keep it in a safe place. Benefits of Filing Electronically The Department encourages you to file electronically whenever possible. Electronic filing is fast and secure, and it provides these benefits: • You receive your refund faster. • The state saves tax dollars in processing costs. • Filing is free on the Department website. • If you both file and pay electronically, your filing dead- line is extended.

For more about deadlines, see When and Where to File and Pay on page 14. Where To Get Paper Tax Forms PIT-1 forms and schedules can be filled out by hand and mailed to the Department. You can get these tax forms by downloading them from the Department website. Downloading Forms and Instructions To download tax forms, follow these steps: 1. Go to www.tax.newmexico.gov. 2. In the black navigation bar at the top, click INDIVIDUALS. 3. On the left side, click Personal Income Tax Forms. In Person Ask for forms at the Department’s local district offices. Use CONTACTING THE DEPARTMENT information listed on page 1 of these instructions. Some local libraries also may carry New Mexico tax form packets. Using Tax Software Many companies sell software products with tax forms ap- proved by the Department. You can buy these products to complete your income tax return on your personal computer. After completing the forms, you can electronically file or print and mail your tax return to the Department. File Department-Approved Forms Always submit your PIT-1 on official state forms provided or approved by the Department. If you use a software product to generate your forms, the Department must first have ap- proved the software company’s forms. The Department approves forms from companies that follow our specifications and format requirements for the electronic file. Acceptance of a software company and its forms does and payments if any of the following are true: • You are a married person filing separately. • You were separated or divorced during the year. • You are a married person filing jointly. • You are claiming the exemption for income of persons 100 years or older. If your income and payments are not evenly distributed, at- tach a copy of a statement showing the correct division of community and separate income and payments. See also the PIT-B instructions for the allocation and ap- portionment rules for community property when: • One spouse is a resident (but not both spouses). • The couple is filing a joint return. • The couple has income from sources both in and out of New Mexico. Innocent or Injured Spouse Relief If you believe your spouse is solely responsible to pay a joint federal tax liability due to an understatement of tax, divorce, or separation, you may be eligible to claim Innocent Spouse Relief, Separation of Liability, or Equitable Relief from the Internal Revenue Service (IRS). If you file a joint tax return and you expect all or part of your portion of the overpayment for community property to be ap- plied to (to offset) your spouse’s legally enforceable past-due liability, you may be eligible to claim Injured Spouse Relief from the IRS. For information, see IRS Publications 971, Innocent Spouse Relief, and 504, Divorced or Separated Individuals.

Although state law prohibits the Department from forgiving state taxes due, the Department Secretary has discretion to decline to bring collection action against an “innocent or injured spouse” when it is unfair to hold that spouse liable. If the IRS grants relief in writing to you, you may provide that documentation to the Department and request the Depart- ment to decline to bring or to cease collection action against you to the extent the IRS granted the relief to you. Additionally, you may request the Secretary not to bring col- lection action against you for any of the following: • Liabilities established by your spouse, when the income that established the liability was not claimed as commu- nity property. • Your spouse’s separate debt, when you expect your part of community property to be offset to clear the debt. • Business-related debt, when you can show you had no knowledge of the business and you did not benefit from the business, and the income from the business was not claimed as community property. To request relief from the Department, fill out and submit RPD-41337, Innocent or Injured Spouse Relief Request or apply online through the Taxpayer Access Point (TAP). FILING METHODS PIT-1 PIT-1-7 www.tax.newmexico.gov

not imply endorsement by the Department or assurance of the quality of the company’s services. The Department: • Does not review or approve the logic of specific software programs. • Does not confirm calculations on forms produced by these programs. The accuracy of the software program remains the responsi- bility of the software company, developer, distributor, or user. For a list of companies and products with PIT-1 forms ap- proved by the Department, follow these steps: 1. Go to www.tax.newmexico.gov. 2. In the black navigation bar at the top, click TAX PROFES- SIONALS. 3. Click Software Developers then select the document named Approved Software for Reproducing of 2023 Income Tax Forms. CAUTION: Submit only high-quality, printed, original PIT-1 forms and schedules to the Department. A poor print or photocopy of a form from an approved software product or from our website delays processing your return and your refund, credit, or rebate. Check the Print Quality When using any computer-generated PIT form, you must comply with the printing and legibility requirements of the software company. If your printer can clearly print a logo, it can print a quality tax form. IMPORTANT: File Returns on Approved State Forms. Always submit Personal Income Tax Returns on official state forms provided by or approved by the Department. Never submit a return with a form that has been photocopied or photo shopped as it will not be accepted. About Electronic Filing The Department offers two ways to file your PIT-1 electroni- cally. Each way lets you file either a refund return or a tax- due return. You can file through the Department website or through the Federal/State Electronic Filing Program. For details, see Using the Federal/State Electronic Filing Program (Fed/State) later in this section. Restrictions Depending on the electronic filing software, certain restric- tions may apply to who may file and the types of returns eligible for electronic filing. The Department and IRS web- sites listed in this section provide information about your PIT electronic filing options, including details about Internet browser requirements. If you plan to have a professional tax preparer file your return electronically, you may want to contact the preparer for more information about electronically filing. Using The Department Website, Taxpayer Access Point (TAP) If you have access to the Internet from a personal computer, free electronic filing is available on the Department’s website. However, if any of these situations is true, you cannot use the website: • You are a fiscal year filer. • You are married filing jointly, and you or your spouse are dependents of another taxpayer. • You have income from sources inside and outside New Mexico and you are claiming an additional amount of tax on a lump-sum distribution by filing federal Form 4972 and Schedule PIT-B. In these situations, you must file on paper or electronically with an alternative software product. To file your return on the Department website, follow these steps: 1. Logon or create a TAP account at https://tap.state.nm.us. 2. In the Accounts tab, select PIT Account under AC- COUNTS. 3. In the Recent Periods tab, select 12/31/2023 under RECENT PERIODS. 4. On the right side of the screen, select File, Change, or Print Return under I WANT TO. 5. After you complete all your entries, click Submit to file. 6. Enter your password and click OK to display your con- firmation number. 7. Print the page showing your confirmation number as proof and verification that you filed online. Click Print to print a copy of your return for your records. IMPORTANT: Do not mail the confirmation page or the return you filed online to the Department. For help with TAP, email: TAP.TechnicalHelp@tax.nm.gov. Refunds If you are due a refund, you may choose to receive a check or have the refund deposited directly into your checking or savings account. The Department is not responsible for the misapplication of a direct deposit refund caused by the error, negligence, or malfeasance on the part of the taxpayer. Paying Your Taxes If you owe tax, you will be given the option to pay your tax once you are finished filing your return through TAP. You may use a credit card for an online payment. You can also pay by electronic check, or mail a check or money order to the Department with a PIT-PV Payment Voucher. NOTE: A convenience fee is applied for using a credit card. The State of New Mexico uses this fee, calculated on the transaction amount, to pay charges from the credit card companies. There is no charge for an electronic check. Make your check or money order payable to New Mexico Taxation and Revenue Department. Mail the PIT-PV with PIT-1 PIT-1-8 www.tax.newmexico.gov

PIT-1 Required Regardless of the federal return and schedules you file, every person required to file a New Mexico personal income tax return must complete and file a PIT-1 New Mexico Personal Income Tax Return. Depending on your residency status and your personal situation, you may be required to attach other forms and schedules to your PIT-1. These forms and schedules are described next. PIT-S For Over 5 Dependents Or Other Dependents If you have more than five qualifying dependents or other dependents, file a PIT-S, Supplemental Schedule for Depen- dents and Other Dependents in Excess of Five. Enter the first five dependents and other dependents on PIT‑1, line 8. Enter additional entries on Schedule PIT-S. PIT-ADJ To Adjust Income If you are required or eligible to make New Mexico adjust- ments to your income, complete and attach Schedule PIT- ADJ, Schedule of Additions, Deductions, and Exemptions, to your PIT‑1. If you have any of the following additions to federal adjusted gross income, file PIT-ADJ: • Interest and dividends from federal tax-exempt bonds; • A federal net operating loss carryover; • Contributions refunded when closing a New Mexico approved Section 529 college savings plan account; • Certain contributions rolled out of a New Mexico approved Section 529 college savings plan account, or • A charitable deduction claimed on federal Schedule A for a donation of land to private non-profit or public conservation agencies for conservation purposes from which you were allowed the New Mexico land conservation tax credit. • Distributed net income subject to the Entity Level Tax. If you received any of the following income not taxable by New Mexico, or if you qualify for any of the following deduc- tions or exemptions, file PIT-ADJ: • You have interest and dividend income on New Mexico state and local bonds. • You have a New Mexico net operating loss carryover. • You have interest income from U.S. Government obliga- tions. • You have Railroad Retirement income not taxable by New Mexico. • You have Railroad Unemployment Insurance Act sick pay. • You, your spouse, or both are members of a New Mexico federally recognized Indian nation, tribe, or pueblo and your income was earned within the boundaries of the res- ervation or pueblo grant or within the boundaries of land defined as “Indian country” of which you or your spouse are/is an enrolled member while domiciled within the boundaries of the reservation or pueblo grant or within REQUIRED FORMS AND ATTACHMENTS your payment to the New Mexico Taxation and Revenue Department, P.O. Box 8390, Santa Fe, NM 87504-8390. Using The Federal/State Electronic Filing Program The Fed/State program, administered by the IRS, lets you electronically file your federal and state tax returns together or separately. You can file a Fed/State return through an online home tax filing program on a personal computer or through a professional tax preparer. Fed/State Online Home Filing Program This method of filing requires access to the Internet, where you can reach companies that offer Fed/State e-file services and tax preparation software. You can also buy over-the- counter software to file your taxes online. Partnership Agreements To encourage electronic filing, the IRS has partnership agree- ments with many companies. On the IRS website is a list of companies that provide tax preparation software and Fed/ State e-file opportunities, with descriptions of their products, services, and costs. The IRS e-file provider page also lists the companies that participate in free Internet filing for low income and other qualified individuals. IMPORTANT: If you use one of the IRS partner software companies, make sure they support New Mexico personal income tax electronic filing. Additional charges may apply to more complex returns. You can, however, go to TAP at https://tap.state.nm.us to file your state return at no charge. For more information about the companies that participate in the Fed/State e-file program, visit the IRS website at www.irs.gov. Do Not Combine IRS and State Payments When paying your taxes through the Fed/State program, make separate payments to the IRS and to the State of New Mexico. Do not combine your payments to the IRS and to the state. Follow the online instructions to make sure your payment goes to the proper taxing authority. IMPORTANT: Fed/State program payment processing does not support payments from savings accounts. Filing by a Professional Tax Preparer The Fed/State electronic filing service is also available through tax professionals who meet IRS and Department qualifications for acceptance into the Fed/State program. Ask professional tax preparers whether they have Fed/ State approval. NOTE: Professional preparers usually charge for their services. PIT-1 PIT-1-9 www.tax.newmexico.gov

Attachments Required To Claim PIT-RC Rebates And Credits To claim these PIT-RC credits Attach PIT-RC and Additional low income property tax rebate for Los Alamos County, Santa Fe County, or Doña Ana County residents If the address on your PIT-1 return is not a Los Alamos County, Santa Fe County, or Doña Ana County address, attach a copy of your property tax statement for the Los Alamos County, Santa Fe County, or Doña Ana County property. New Mexico child day care credit Child Day Care Credit Worksheet and a copy of PIT-CG, New Mexico Caregiver’s Statement from each caregiver. Special needs child adoption credit - dur- ing the first year of claiming the credit for each child, Certification from the Children Youth and Families Department or a licensed child placement agency that the adopted individual meets the definition of a “difficult-to-place-child” as defined in the Adoption Act (Sub- section B of Section 32A-5-44 NMSA 1978). The classification is based on physical or mental impairment or emotional disturbance that is at least moderately disabling. The individual may be over 18 years of age. the boundaries of land defined as “Indian country”. • You, your spouse, or both are age 100 or over and not dependents of another taxpayer. • You, your spouse, or both are age 65 or over or blind, and your adjusted gross income is not over $51,000 for a joint return; $28,500 for a single taxpayer; or $25,500 for married taxpayers filing separately. • You have federally taxable contributions to or distribu- tions from a New Mexico Medical Care Savings account. • You contribute to a New Mexico-approved Section 529 col- lege savings plan. • If you have net capital gains you may be able to claim a deduction of up to $1000 or 40% of those net capital gains, whichever is greater. For purposes of this deduc- tion, “net capital gains” are defined by Section 1222(11) of the Internal Revenue Code. For Tax Year 2023 that section defines “net capital gains” as only net long-term capital gains less any net short-term capital losses. • You have United States armed forces wages or salary from active duty service. • You, your spouse, or both are age 65 or over, and you have unreimbursed or uncompensated medical care ex- penses of $28,000 or more for yourself, your spouse, or dependents. • You, your spouse, or dependents have expenses related to donating human organs for transfer to another person. • You received a reimbursement from the New Mexico Na- tional Guard servicemember’s life insurance reimburse- ment fund. • You were required to include in your federal adjusted gross income taxable refunds, credits, or offsets of state and local income tax (see federal Schedule 1, line 1). • You are a non-resident, United States Public Health Ser- vices (USPHS) servicemember, and you earned income in New Mexico for USPHS active duty pay. • You qualify for the liquor license lessor deduction. • You or your spouse have armed forces retirement pay and may qualify for a partial exemption. • You or your spouse have social security income under the threshold to qualify for an exemption. PIT-RC To Claim Refundable Credits If you want to claim any of the following refundable cred- its, see Attachments Required to Claim PIT-RC Rebates and Credits table below and file PIT-RC, New Mexico Rebate and Credit Schedule: • Low income comprehensive tax rebate, • Property tax rebate for low income persons 65 or older, • Additional low income property tax rebate for Los Alamos County, Santa Fe County, or Doña Ana County residents, • New Mexico child day care credit, • Refundable medical care credit for persons 65 or older, • Special needs adopted child tax credit, or • Child Income Tax Credit PIT-B To Allocate And Apportion Income To allocate and apportion income received from employment, business, or property sources located inside and outside New Mexico, file PIT-B, Schedule of New Mexico Allocation and Apportionment of Income, with your PIT-1. PIT-D To Donate Overpayment If you want to contribute to one or more voluntary contribu- tion funds from an overpayment on your return, file PIT-D, Schedule for New Mexico Voluntary Contributions. PIT-CR To Claim Non-Refundable Credits If you want to claim any of the business related credits, file PIT‑CR, New Mexico Business-Related Income Tax Credit Schedule. If you are claiming more than five credits, also file PIT-CR Supplemental, New Mexico Supplemental Business- Related Income Tax Credit Schedule. See credits table, Attachments Required to Claim PIT-CR Business - Related Tax Credits on page 11. Payment Vouchers When paying by check or money order, make sure to use the correct payment voucher. Indicate the correct tax year of the return to which you want the payment to apply. PIT-1 PIT-1-10 www.tax.newmexico.gov

Attachments Required to Claim PIT-CR Business-Related Tax Credits To Claim These PIT-CR Credits Attach PIT-CR and these items (If you are claiming over five credits, also attach PIT-CR Supplemental.) Affordable Housing Tax Credit RPD-41301, Affordable Housing Tax Credit Claim Form, and a copy of voucher(s) issued by Mortgage Finance Authority (MFA). Angel Investment Credit RPD-41320, Angel Investment Credit Claim Form and copy of the certifi- cate of eligibility from New Mexico Economic Development Department. Advanced Energy Tax Credit RPD-41334, Advanced Energy Tax Credit Claim Form. Repealed July 1, 2023. Agricultural Biomass Tax Credit RPD-41361, Agricultural Biomass Tax Credit Claim Form and copy of certificate of eligibility from Energy, Minerals and Natural Resources Department. Film Production Tax Credit (approved) RPD-41228, Film Production Tax Credit Claim Form. Foster Youth Employment Tax Credit RPD-41390, Foster Youth Employment Tax Credit Claim Form. Geothermal Ground-Coupled Heat Pump Tax Credit RPD-41346, Geothermal Ground-Coupled Heat Pump Tax Credit Claim Form and copy of certificate of eligibility from New Mexico Energy, Miner- als and Natural Resources Department. Job Mentorship Tax Credit For each qualified student you employed during the tax year, an RPD- 41280, Job Mentorship Tax Credit Certificate, and a RPD‑41281, Job Mentorship Tax Credit Claim Form. Land Conservation Incentives Credit RPD-41282, Land Conservation Incentives Tax Credit Claim Form, and copy of letter received from Energy, Minerals and Natural Resources Department certifying treatment as a qualified donation. Preservation Of Cultural Property Credit PIT-4, Preservation of Cultural Properties Credit, Part 2 approval from New Mexico Cultural Properties Review Committee. Rural Job Tax Credit RPD-41243, Rural Job Tax Credit Claim Form. Rural Health Care Practitioners Tax Credit RPD-41326, Rural Health Care Practitioner Tax Credit Claim Form and copy of certificate of eligibility from New Mexico Department of Health. Renewable Energy Production Tax Credit RPD-41227, Renewable Energy Production Tax Credit Claim Form. Solar Market Development Tax Credit RPD-41317, Solar Market Development Tax Credit Claim Form and certification letter from New Mexico Energy, Minerals and Natural Resourc- es Department. Sustainable Building Tax Credit RPD-41329, Sustainable Building Tax Credit Claim Form. New Film Production Tax Credit RPD-41228, Film Production Tax Credit Claim Form. New Solar Market Development Tax Credit TRD-41406, New Solar Market Development Income Tax Credit Claim Form 2015 Sustainable Building Tax Credit RPD-41383, 2015 Sustainable Building Tax Credit Claim Form. 2021 Sustainable Building Tax Credit TRD-41252, 2021 Sustainable Building Tax Credit Claim Form. New Mexico Film Partners New Film Pro- duction Tax Credit RPD-41228, Film Production Tax Credit Claim Form. Technology Jobs And Research And De- velopment (Additional) Tax Credit RPD-41386, Technology Jobs And Research and Development Tax Credit Claim Form. PIT-1 PIT-1-11 www.tax.newmexico.gov

The Department supports the fast and secure filing of electronic payments with PIT-PV, PIT‑EXT, and PIT-ES, described next. To print copies of vouchers, go to http://www.tax.newmex- ico.gov. At the top of the page, click FORMS & PUBLI- CATIONS then select the following items in this order: • Income Taxes, • Personal Income Tax (PIT) - Current Year, • Personal Income Tax Return Forms, and then click the voucher you want to print For more information, see Payment Vouchers for PIT-1 on page 14 of these instructions. PIT-PV, Personal Income Tax Payment Voucher If your return shows a balance due and you choose to pay by mail or delivery to one of our local offices, you must complete the PIT-PV payment voucher and include it with your check or money order. Also include PIT-PV when submitting your payment with your return. IMPORTANT: On all checks and money orders, write your social security number, PIT-PV, and the tax year. PIT-EXT, Personal Income Tax Extension Payment Voucher If you expect your return to show a balance due and you have obtained either a federal automatic extension or a New Mexico extension, use the PIT-EXT payment voucher to make an extension payment by mail or delivery. When you have an extension of time to file your return, and if you file your return and pay the tax shown on the return by the extended due date, the Department waives (through the extension period) penalty for failure to file and pay. However, even if you obtain the extension, interest continues to accrue. If you expect to owe more tax when you file your 2023 return and you want to avoid accrual of interest, make a payment using the 2023 PIT-EXT payment voucher. PIT-ES, Estimated Tax Payment Voucher To make estimated tax payments by mail or delivery, com- plete a PIT-ES payment voucher. Include the voucher with your check or money order. IMPORTANT: On all checks and money orders, write your social security number, PIT-ES, and the correct tax year for the quarter. For example, when filing your fourth quarter estimated tax payment for tax year 2023 due January 15, 2024, make sure the tax year is 2023 on the PIT-ES. Never combine payments of tax due on your 2023 return and 2024 estimated income tax liability on the same check or money order. If you combine payments, it is likely they will not be credited to your account in the way your want. IMPORTANT: When using a payment voucher, make sure you use the correct one (PIT-PV, PIT-EXT, or PIT-ES) and make sure the voucher shows the correct tax year of the return to which you want the payment to apply. PIT-X For Amended Returns Any change to New Mexico taxable income, credits, or rebates, and changes to federal taxable income require an amended New Mexico PIT-X for the same year. For tax years beginning on or after January 1, 2023, but not after December 31, 2023, file an amended return on the 2023 PIT-X, Personal Amended Income Tax Return. If your New Mexico amended return reports changes as the result of filing an amended federal return, attach copies of the applicable federal forms and schedules. In all cases, in- dicate the reason for amending your return on PIT-X, page 2. NOTE: The law requires you to file an amended New Mexico return within 180 days of the date an adjustment to your federal return becomes final. What To Submit With PIT-X When submitting an amended return, you must also submit all Schedules PIT-S, PIT-ADJ, PIT-CR, PIT-RC, PIT‑B, and PIT‑D to support your entries on the PIT-X, even if they did not change from the original version. Unless you are amending your New Mexico return to change the amount of withholding reported, you do not need to file forms W-2 and other income and withholding information returns (such as 1099-MISC and RPD-41359). IMPORTANT: Carefully follow the PIT‑X instructions. Other Forms Or Attachments You Might Need To File This section describes the forms and attachments you might need to file with your PIT-1. The two tables on pages 10 and 11, Attachments Required to Claim PIT-RC Rebates and Credits , and, Attachments Required to Claim PIT-CR Business-Related Tax Credits, lists the requirements for other rebates and tax credits. The following items are also described in this section: • All annual information returns and withholding statements • Refund for a deceased taxpayer • Statement of division of community and separate income and payments • Unused New Mexico net operating loss carryforward from a previous year • RPD-41272 to use alternative method for penalty • PIT-110 for non-resident income adjustment • Schedule CC for non-resident using alternative tax meth- od • PIT-8453 for electronic filing and transmittal • RPD-41338 to waive preparer filing requirement Federal Income Tax Return The Department may require you to furnish a true and correct copy of your federal income tax return and its attachments after you file your return. Generally, you do not attach your federal return to your PIT-1. PIT-1 PIT-1-12 www.tax.newmexico.gov

If, however, you have a combined loss of over $40,000, from one or more of the following federal forms and schedules, attach to Form PIT-1, your federal Form 1040 or 1040SR, and Schedules showing the loss or losses taken on Form 1040 or 1040SR. • Federal Schedules C or C-EZ for business income or loss • Federal Schedule D for capital gains or loss • Federal Schedule E for rental real estate, royalties, part- nerships, S corporations, trusts, income • Federal Schedule F for farm income or loss • Federal Form 4797, Other gains or losses All Annual Information Returns and Withholding State- ments Attach to your PIT-1 a copy of each of your annual informa- tion returns and withholding statements showing income and New Mexico income tax withheld. Include all federal Forms W-2, 1099, 1099-MISC, 1099-R, and W-2G, and New Mexico Form(s) RPD-41359, Annual Statement of Pass-Through Entity Withholding, and RPD-41285, Annual Statement of Withholding of Oil and Gas Proceeds. Credit for Taxes Paid to Another State If you are claiming the credit for tax paid to another state on PIT-1, line 20, you must attach the other state’s income tax return and the Worksheet for Computation of Allowable Credit for Taxes Paid to Other States by New Mexico Residents, page 30, to your PIT-1 return. Refund for a Deceased Taxpayer When requesting a refund for a deceased taxpayer, enter the date of death on the PIT-1 form and the refund will au- tomatically be made payable to the taxpayer’s spouse or, if no spouse, to the estate of the deceased taxpayer. If a refund should be made payable to a person other than the surviving spouse or to the estate of the deceased, use RPD- 41083, Affidavit to Obtain Refund of New Mexico Tax Due a Deceased Taxpayer. In all cases, you must provide a copy of a death certificate or other proof of death. Statement of Division of Community and Separate In- come and Payments If your income and payments are not evenly distributed, and if any of the following are true, attach a statement reflecting a correct division of community and separate income and payments: • You and your spouse are filing separate returns. • You divorced during 2023. • You or your spouse, but not both, claim the exemption for income of persons 100 years or older. • You or your spouse, but not both, are residents of a com- munity property state. Community property states are New Mexico, Arizona, Cali- fornia, Idaho, Louisiana, Nevada, Texas, Washington, and Wisconsin. Unused New Mexico Net Operating Loss Carryforward from a Previous Year To apply an unused New Mexico net operating loss carry- forward amount from a previous year, use RPD-41369, Net Operating Loss Carryforward Schedule, to show the tax year when each net operating loss occurred. List on the schedule each loss for each tax year for which the loss was carried forward, including 2023. RPD-41272 to Use Alternative Method for Penalty If you qualify for and have elected to use an alternative method of computing penalty on estimated payments, and you marked the box on PIT-1, line 35, complete and attach 2023 RPD-41272, 2023 Calculation of Estimated Personal Income Tax Underpayment Penalty. PIT-110 to Adjust Non-Resident Income If you are a non-resident whose job is located in New Mexico but requires temporary assignment outside New Mexico, complete and attach PIT-110, Adjustments to New Mexico Income. Schedule CC for Non-Residents Using the Alternative Tax Method If you are a non-resident who qualifies to pay tax using an Alternative Tax Method, complete and attach Schedule CC, Alternative Tax Schedule. Schedule CC is for taxpayers who: • Have no business activities in New Mexico other than sales, • Do not own or rent real estate in New Mexico, and • Have annual gross sales in or into New Mexico of $100,000 or less. PIT-8453 for Electronic Filing and Transmittal Paid tax preparers, Electronic Return Originators (EROs), or other third-party transmitters who electronically transmit New Mexico personal income tax returns on behalf of taxpayers, use a tax software program, or file through the New Mexico website, must complete PIT-8453, 2023 Individual Income Tax Declaration for Electronic Filing and Transmittal. These transmitters must maintain in their records the taxpayers’ signatures.

PIT-8453 authorizes electronic transmission of the tax return, authenticates the electronic part of the return, and under certain circumstances provides a transmittal for additional supporting documentation. Generally, you do not need to send PIT-8453 to the Depart- ment. To find out when to submit PIT-8453 to the Department, see the instructions for PIT-8453. RPD-41338 to Waive Preparer Filing Requirement If you do not want your tax preparer to file your tax return by Department-approved electronic media, use RPD‑41338, Taxpayer Waiver for Preparers Electronic Filing Requirement. To avoid the penalty of $5 per return imposed on the paid PIT-1 PIT-1-13 www.tax.newmexico.gov

When and Where to File File your return as soon as you have all the necessary infor- mation. The deadlines for filing electronic returns and paper returns are different as described next. NOTE: For a faster refund, file your return electronically. Electronic Returns and Payments If you file a calendar year return and pay your tax online, your filing deadline is April 30, 2024. All other taxpayers must file by April 15, 2024. To avoid penalty or interest, you must electronically file your return and electronically pay your tax. You can file the return and pay at different times and still qualify for the extended due date. For a description of electronic filing and payment methods, see About Electronic Filing on page 8. Paper Returns To Mail File paper returns no later than the deadline of April 15, 2024. For fiscal year taxpayers, the due date is the 15th day of the fourth month following the close of your fiscal year. If you file or pay late, you may need to pay interest and penalties. See Interest and Penalties on page 15. IMPORTANT: The April 30, 2024, deadline applies only when both the return and the payment are filed electronically. For taxpayers that file online on a fiscal basis, your filing deadline is last day of the 4th month after year end. Determining a Timely Mailing Date for Paper Returns If the U.S. Postal Service postmark on the envelope bears a date on or before the due date, a mailed New Mexico income tax return and tax payment are timely. If the due date falls on a Saturday, Sunday, or a state or national legal holiday, the tax return is timely when the postmark bears the date of the next business day. If the date recorded or marked by a private delivery service is on or before the due date, delivery through a private delivery service is timely. Where To Mail Paper Returns and Payments Mail refund returns and returns without a payment attached to: NM Taxation and Revenue Dept. P.O. Box 25122 Santa Fe, NM 87504-5122 Mail returns with a payment and voucher attached or pay- ments and vouchers without a return to: NM Taxation and Revenue Dept. P.O. Box 8390 Santa Fe, NM 87504-8390 How To Pay Select the most convenient way to pay your taxes. You can pay with an electronic check, a credit card, a paper check, or a money order. See Paying Your Taxes on page 8. Separate Tax Due Payment and Estimated Payment Do not combine a payment for tax due on your 2023 return with a payment for your 2024 estimated income tax liability on the same check. If you combine a tax due payment with an estimated tax payment in a check or money order, it is likely they will not be properly credited to your account. Mailing a Payment and Voucher Do the following when mailing any payment by check or money order: • Make it payable to New Mexico Taxation and Revenue Department • Write your social security number, PIT-PV, and 2023 PIT-1 on it. • Mail the voucher with your payment. IMPORTANT: Mail a voucher only when you are making a payment. Payment Vouchers for PIT-1 Whether you submit your payment with or without your tax return, complete PIT-PV, Personal Income Tax Payment Voucher and submit it with your payment. If you are making an extension or estimated payment, use either a PIT-EXT or PIT-ES voucher (described next) to submit your payment. Vouchers to Use for Extension or Estimated Payments If you make an extension payment, complete PIT-EXT, Personal Income Tax Extension Payment Voucher. Submit the voucher with your payment. If you make an estimated payment, complete PIT-ES, Per- sonal Income Estimated Tax Payment Voucher. Submit the voucher with your payment. IMPORTANT: The PIT-ES and your check or money order WHEN AND WHERE TO FILE AND PAY tax return preparer, your tax preparer must mark the box in the Paid preparer’s use only section on PIT-1, page 2. The mark shows that your preparer has your RPD-41338 on file. The requirement to make sure returns are filed by Department-approved electronic media applies only to a 2023 New Mexico PIT-1 filed in calendar year 2024. For more details, see the instructions for the Paid preparer’s use only section on page 35 of these instructions. Tax Credit for Certain Venture Capital Investments If your federal adjusted gross income includes a “qualified diversifying business net capital gain” from the sale of “quali- fied diversifying business stock” on or after July 1, 2000, and you are in full compliance with all provisions of the New Mexico Venture Capital Investment Act, contact (505) 827- 1746 for details on claiming the tax credit allowed by the act. PIT-1 PIT-1-14 www.tax.newmexico.gov

INTEREST AND PENALTIES Interest Even if you receive an extension of time to file, interest ac- crues on income tax that is not paid on or before the due date of your return. IMPORTANT: Interest is a charge for the use of money and by law it cannot be waived. Interest is computed on a daily basis at the rate established for individual income tax purposes by the Internal Revenue Code (IRC). The IRC rate, which changes quarterly, is announced by the IRS in the last month of the previous quarter. The annual and daily interest rates for each quarter are posted on our website a https://www.tax.newmexico.gov/individuals/file- your-taxes-overview/penalty-interest-rates/. IMPORTANT: When you pay your principal tax liability, penalty and interest stop accruing. Refunds and Interest If you are due a refund, you may be entitled to interest on your overpayment at the same rate charged for underpay- ments, but only under certain conditions. For a 2023 PIT-1, filed in calendar year 2024, the Department pays no interest in these situations: • When it makes the refund within 55 days of the date of your claim for refund; • When the interest is less than $1.00; • When it cannot process your return (see Processing Requirements described next); or • If the interest is for a refund of any credits claimed for the Investment Credit Act, Laboratory Partnership with Small Business Tax Credit Act, Technology Jobs and Research and Development Tax Credit Act, Affordable Housing Tax Credit Act, Rural Job Tax Credit, or High Wage Job Tax Credit. For returns filed for any year before the 2023 calendar year, the Department pays no interest in these situations: • When it makes the refund within 120 days of the date of your claim for refund; • When the interest is less than $1.00; or • When it cannot process your return (described next). Processing Requirements For processing to take place, your return must show your Name and social security number (SSN) or individual tax identification number (ITIN), and your return must be signed. Your return must also comply with all the instructions for the return and contain all attachments required by the instructions. Negligence Penalty for Late Filing or Late Payment If you file late and owe tax, or if you do not pay your tax must indicate the correct tax year to apply the estimated payment to. NOTE: If your payment voucher has a scanline (a very long row of numbers) at the bottom 1 and 1/2 inch of the voucher, do not write in the area around the scanline. For more information about payment vouchers, see PIT-PV, Personal Income Tax Payment Voucher page 12 of these instructions. Extension Of Time To File New Mexico recognizes and accepts an IRS automatic six- month extension of time to file. If you filed federal Form 4868, Application for Automatic Extension of Time to File U.S. Indi- vidual Income Tax Return for tax year 2023, October 15, 2024 is the extended due date for calendar-year filers. How To Request Additional Time To File Your PIT-1 If you expect to file your federal return by the original due date or by the six- month automatic extension allowed by the IRS, but you need additional time to file your New Mexico return, request an extension of time by submitting New Mexico Form RPD-41096, Application for Extension of Time to File. You must submit RPD-41096 on or before the April 15, 2024, due date. Show Extension on PIT-1 To show you were approved for an extension, mark the exten- sion box on PIT-1, line 6a. Then enter the date the extension expires in 6b. On PIT-1, line 31 (Other Payments), report the amount of any payments you made towards the tax due. IMPORTANT: Do not attach a copy of a federal extension request that is automatically granted, or a copy of an approved state extension. To extend your deadline beyond the six months, you are required to obtain an additional extension through the IRS or the state. If the IRS grants you an additional extension to the automatic six-month extension, attach a copy of the approved additional extension. For military servicemembers deployed in a combat zone who qualify for a federal or state extension, see the special instructions about required attachments and other information in publication FYI-311, Military Extensions for New Mexico Personal Income Tax.

Interest Continues to Accrue An extension of time to file your return does not extend your time to pay. If tax is due, interest continues to accrue. If you expect to owe more tax when you file your 2023 return, make an extension payment to avoid the accrual of interest. Complete and submit a PIT-EXT payment voucher with your payment. PIT-1 PIT-1-15 www.tax.newmexico.gov

when due, you receive a penalty of 2% of the tax due for each month or part of a month you do not file the return or you do not pay the tax, up to a maximum of 20%. This penalty applies when your failure to timely file or pay is due to negligence or disregard of the rules and regulations, but without intent to defraud. Penalties For Fraudulent Returns And Other Reasons This section covers civil and criminal penalties for fraudulent returns, penalties for underpayment of estimated tax and returned checks, and penalties related to tax preparers. Civil Penalties In the case of failure to pay when due any amount of re- quired tax, with willful intent to evade or defeat any tax, the Department charges a civil penalty of 50% of the tax due. The minimum penalty is $25. Any person who willfully causes or attempts to cause the eva- sion of another person’s obligation to report and pay tax may be assessed a civil penalty in an amount equal to the amount of the tax, penalty, and interest attempted to be evaded. Criminal Penalties A person who willfully attempts to evade or defeat any tax or the payment of the tax is guilty of a felony. Upon conviction, that person may be fined between $1,000 and $10,000, or imprisoned between one and five years, or both, together with paying the costs of prosecution. This penalty is in addi- tion to other penalties provided by law. Any person who willfully, with intent to evade or defeat the payment or collection of any tax is guilty of a felony and sub- ject to criminal penalties. Upon conviction, criminal penalty may be imposed of not more than $5,000, or imprisonment of not less than six months or more than three years, or both, together with costs of prosecution. Tax Fraud A person is guilty of tax fraud if the person: • Falsifies any return, statement, or other document; • Willfully assists, procures, advises, or counsels the filing of a false return, statement, or document; • Files any return electronically, knowing the information on the return is not true and correct as to every material matter; or • Removes, conceals, or releases or aids in the removal, concealment, or release of any property on which levy is authorized by the Department. Whoever commits tax fraud may be found guilty of a petty misdemeanor, misdemeanor, fourth degree felony, third de- gree felony, or second degree felony. Additional information can be located under Section 7-1-73 NMSA 1978. Penalty for Underpayment of Estimated Tax If your tax liability for 2023 is $1,000 or more and your 2023 withholding does not equal the “Required Annual Payment” of (1) 100% of the prior year tax liability or (2) 90% of the current year tax liability, you may be subject to penalty. The law provides some exceptions to the penalty. For informa- tion about exceptions, see the instructions for the PIT-ES payment voucher. If you have not timely made the required annual payments, the Department calculates and assesses penalty on under- payment of estimated tax. If you believe the penalty to be in error, you may provide additional information. Penalty for underpayment of estimated tax accrues at the same rate as interest on an underpayment of tax. The penalty for underpayment of estimated tax may exceed the maximum 20% that applies to underpayment penalty. Penalty on underpayment of estimated tax is computed on a daily basis, at the rate established for individual income tax purposes by the IRC. Returned Check Penalty A check that is not paid by a financial institution does not constitute payment. A penalty of $20 is assessed for a bad check in addition to other penalties that may apply to a late payment. Failure of Paid Tax Preparers to Conform to Certain Requirements A penalty of $25 per return or claim for refund is assessed to paid preparers who: • Fail to sign a tax return or claim for refund, or • Fail to include their identifying numbers. IMPORTANT: The law provides for a penalty of $500 per item against any tax preparer who endorses or otherwise negotiates, either directly or through an agent, any refund check issued to a taxpayer. Paid Tax Preparers Requirement to Ensure Returns are Filed Electronically Paid tax practitioners who prepare more than 25 New Mexico personal income tax returns must ensure that each return is submitted by Department-approved electronic media, unless the taxpayer requests otherwise. A $5 penalty per return is assessed for personal income tax preparers who fail to comply with this requirement. To avoid a penalty of $5 per return imposed on the paid tax return preparer, the tax preparer must ensure the return is filed by Department-approved electronic media or must keep a signed Form RPD-41338, Taxpayer Waiver for Preparers Electronic Filing Requirement, on file and mark the box in the Paid preparer’s use only section on PIT-1, page 2. An electronically transmitted return can be transmitted through the Department website or transmitted through the Internet using approved third-party software or online program. The requirement to ensure the return is filed by Department- PIT-1 PIT-1-16 www.tax.newmexico.gov

ABOUT YOUR TAX RETURN INFORMATION Keep Copies Of Your Tax Records And Returns Remember to keep a copy of your completed income tax return for at least 10 years after you file it. Keep copies of accounting books and other financial records, schedules, statements, or other supporting documents. Privacy Notification The Department requires taxpayers to furnish their social security number (SSN) or individual tax identification number (ITIN) as a means of taxpayer identification. All information supplied electronically by taxpayers is protected using en- cryption and fire walls. Taxpayer information on returns is protected in accordance with the confidentiality provisions of the Tax Administration Act (Section 7-1-8 NMSA 1978). For details about the rights of the Department and the Sec- retary of the Department to collect and maintain personal information, including mandatory disclosure of SSN or ITIN in the manner required by tax regulations, instructions, and forms, see Section 7-1-12 NMSA 1978 and 3.1.1.15 NMAC. The Department uses this personal information primarily to determine and administer state tax liabilities. The infor- mation is used for certain tax offset and exchange-of-tax information authorized by law, and for any other purpose authorized by law. 1099-G and 1099-INT Information Returns Federal law requires New Mexico to report to the IRS all New Mexico income tax refunds and interest paid to taxpayers on these refunds. New Mexico is required to report the same information to you on a Form 1099. The amount reported on Forms 1099‑G and 1099-INT may or may not be federally taxable to you. To find out if you need to report the amount as income for federal income tax purposes, consult your tax preparer, the federal income tax form instructions, or IRS Publication 525, Taxable and Nontaxable Income. Federal/State Tax Agreement Under authority of federal and New Mexico laws, the Depart- ment and the IRS are parties to a federal/state agreement for the mutual exchange of tax information. Every year New Mexico participates in a program that matches New Mexico return information with federal return informa- tion. If you receive a notice from the Department telling you about a difference between state and federal information or about a non-filed return, it is to your advantage to respond promptly and provide information to clear your record. If you do not respond within 60 days, the Department presumes the notice is correct and issues an assessment of tax due for the amount of underpaid tax, plus interest and penalty. Treasury Offset Program If an assessment of New Mexico personal income tax is Your Rights The Tax Administration Act governs how the Department administers the Income Tax Act and gives you specific rights and responsibilities. To help avoid tax problems, keep accurate tax records and stay current with tax law changes. Information in these instruc- tions and other Department publications help you do both. While you can resolve most tax problems informally, it is important to understand you must exercise certain rights provided to you under law within specific time frames. If the Department makes an adjustment to your return, the Departments sends you a notice explaining the adjustment and the procedures to use if you disagree. Verification, Correction, and Disputes At any time after filing your return, your return may be subject to further review, verification, or correction. If the Depart- ment adjusts your tax return or assesses additional tax, the Department sends you a copy of Publication FYI-406, Your Rights Under the Tax Laws. FYI-406 outlines your rights and obligations. The publication tells you how to dispute a Department action. Where To Get FYI-406 Publication FYI-406 is available at www.tax.newmexico.gov. At the top, click FORMS & PUBLICATIONS, then select FYIs from the Publications folder. Open the 400 Series- Tax Administration folder to access FYI-406. Refunds If the Department denies your claim for refund in whole or in part, you may file a protest with the Department within 90 days of either mailing or service of the denial, or you may file a lawsuit with the Santa Fe District Court. If the Department does not take action on your claim within 180 days of receiving your claim, you may elect to treat the refund claim as denied for purposes of protesting or filing an action in district court. If the Department requests additional relevant documentation from you, the claim is not complete until the documentation is received within the specified time period. The date the complete claim is submitted will determine when the 180 days begin. If you do not provide the additional requested relevant documentation, the claim for refund remains incom- plete and will not be processed. YOUR RIGHTS UNDER THE TAX LAW approved electronic media applies only to a 2023 New Mexico PIT-1 filed in calendar year 2024. For more details about this requirement, see the instructions for the Paid preparer’s use only section on page 35 of these instructions. PIT-1 PIT-1-17 www.tax.newmexico.gov

About Federal And State Laws Many New Mexico income tax laws are based on federal income tax laws. These instructions point out the differences and explain items unique to New Mexico law. No instructions are given when a line requires addition or subtraction, or when the instructions for an item are written on the form. CAUTION: In these instructions, references to line numbers on federal forms are provided as a convenience. They are based on information available to the Department when the Department delivers New Mexico forms to the printing contractor. The Department is not responsible for changes or errors in these references. Getting Ready Follow these steps before you start filling out your PIT-1: 1. Prepare your federal return. Even if you are not required to file a federal return, complete a sample federal return before you prepare your New Mexico return. Much of the information requested on the PIT-1 is the same. 2. Collect all forms and schedules you are required to file, publications you need to reference, and all your tax re- cords. For example, to claim a deduction, exemption, or tax credit on Schedule PIT-ADJ, Schedule PIT-CR, or Schedule PIT-RC, collect all the schedules and make sure you have the appropriate records, approvals, and certifications. Some of the additional items you need are named on the schedule lines. IMPORTANT: Submit only original, official PIT-1 and schedules. For a description of different forms and schedules, see Required Forms and Attachments on PIT-1 instructions on page 9 and Other Forms or Attachments You Might Need to File on page 12. To find out where to get the forms and schedules you need, see Contacting the Department on page 1. 3. Read the next section, Valid Identification Number Required, to learn about social security numbers (SSNs) and Individual Taxpayer Identification Numbers (ITINs). 4. To get basic information about common tax situations, read Common Items To Know About To Prepare Your PIT-1 on this page. Valid Identification Number Required Enter your name and SSN or ITIN on all forms, schedules, and correspondence you send to the Department. The De- partment cannot accept a return without a valid identification number. New Mexico requires you to use the same name and taxpayer identification number required by the IRS. Make sure the name(s) of the taxpayer, spouse, and all de- pendents listed on your income tax return and their SSN(s) or ITIN(s) agree with the individual’s social security card or individual tax identification number card. If the name is not correct, contact the Social Security Administration. You can find contact information on their website address at www. ssa.gov. If You Do Not Have An SSN Resident or non-resident foreign nationals who do not have and who are not eligible to obtain an SSN may obtain a federal ITIN. To apply for an ITIN, file federal Form W-7 with the IRS. Enter this ITIN in place of an SSN everywhere the SSN is required. For forms and information about the ITIN program, contact the IRS or visit their website at www.irs.gov. Non-Resident Alien Spouse The IRS requires a non-resident alien spouse to have either an SSN or an ITIN in any of these situations: • You file a joint return, or • Your spouse is filing a separate return. Deceased Dependent Child A dependent child who was born and died in 2023 is not required to have an SSN. If you did not obtain an SSN, on line 8, column 2 (Dependent’s SSN), enter all 9s and at- tach a copy of the child’s birth certificate, death certificate, or hospital records. The document(s) must show the child was born alive. Common Items To Know About To Prepare Your PIT-1 This section gives you basic information about these com- mon items to help you prepare your PIT-1: • Spouse situations • Types of income • Winnings • Taxes withheld or paid • Frequently claimed rebates and credits Spouse-Related Situations If any of the following situations applies to you, and your income and payments are not evenly distributed, prepare and attach a statement reflecting a correct division of com- munity and separate income and payments: • You are married and filing separate returns. • You were divorced in 2023. • You are claiming the exemption for income of persons 100 years or older. WHAT TO KNOW AND DO BEFORE YOU BEGIN established, the Department may submit your unpaid debt to the Treasury Offset Program. This “offset” is authorized by federal law and allows the U.S. Department of the Treasury to reduce or withhold any of your federal income tax refund by the amount of your debt. Outside Collection Agencies The Department is authorized to contract with outside col- lection agencies for collection of tax obligations that are at least 120 days past due. Contracted agencies are subject to the same privacy laws and requirements as the Department. PIT-1 PIT-1-18 www.tax.newmexico.gov

• You or your spouse, but not both, are a resident of a com- munity property state. Types Of Income The following type of income are covered next: • Salary, wages, or tips; • Sick pay, tuition or IRA distribution, annuity, pension or retirement pay, or social security benefits; • Public assistance or Supplemental Security Income (SSI); and • Other income. Salary, Wages, or Tips If you received salary, wages, or tips in 2023, collect all your 2023 wage and tax statements. If you have not received your wage and tax statements by February 15 or if a statement you receive is incorrect, contact your employer.

If New Mexico tax was withheld in error on your wages, sal- ary, or tips, and you had no income tax responsibility to New Mexico on that income, obtain a letter from your employer or payor with the following information: • Explanation of the cause of the error; and • Statement that no New Mexico income tax was due on the income reported. Sick Pay, Tuition or IRA Distribution, Annuity, Pension or Retirement Pay, or Social Security Benefits If in 2023 you received sick pay; a distribution from a New Mexico-approved qualified state tuition program or an IRA distribution; an annuity; a pension, Railroad Retirement, other retirement pay; or social security benefits, whether or not income tax was withheld on the payments, collect all your federal Form(s) 1099-R, RRB-1099 and SSA-1099. If New Mexico tax was withheld in error on your annuity or pension, and you had no income tax responsibility to New Mexico on that income, provide a copy of the state income tax return for the state in which you are domiciled or other information showing residency in another state. If you did not have tax withheld but would like to have it with- held in the future, contact the payor. See the Withholding on Certain Government Pensions on page 20 for contact information for those pensions. Public Assistance or Supplemental Security Income If you received public assistance from Temporary Assistance to Needy Families (TANF) or a similar program, from welfare benefits, or SSI during 2023, collect your records showing the amounts you received. Other Income If you received any other income in 2023, whether or not taxable, such as an insurance settlement, a scholarship or grant, VA benefits, income from an inheritance or trust, gifts of cash or marketable property, alimony and separate maintenance or child support, collect your records showing the amounts. Winnings If you had gambling or lottery winnings, whether or not in- come tax was withheld on the winnings, you need your 2023 federal Form W-2G or a record of winnings not required to be reported on a Form W-2G. If your winnings were offset by losses reported in the itemized deductions on your federal return, the Department may request documentation from you to substantiate the deduction. Taxes Withheld Or Paid This section covers the following tax situations: • Tax withheld from oil and gas proceeds; • Tax withheld or paid by a pass-through entity; • Estimated tax payments you paid to New Mexico; and • Income taxes you paid to another state. Tax Withheld from Oil and Gas Proceeds If tax was withheld from your oil and gas proceeds from an oil or gas well located in New Mexico, obtain a copy of your federal Form 1099-MISC or New Mexico Form RPD-41285, Annual Statement of Withholding of Oil and Gas Proceeds. Tax Withheld or Paid By Pass-Through Entity If tax was withheld or paid by a pass-through entity (PTE) from or on your share of the net income earned by a PTE or if tax was paid directly on the owner’s net income by the PTE, obtain a copy of federal Form 1099-MISC or a copy of New Mexico Form RPD-41359, Annual Statement of Pass- Through Entity Withholding. If RPD-41359 shows a credit for an owner’s share of entity level tax or composite income tax, claim it here. Estimated Tax Payments to New Mexico If you made New Mexico estimated tax payments during the year, collect your records showing the amounts and dates of your payments. If you applied an overpayment from your 2022 return to your 2023 estimated taxes, make sure to include that amount in your total. Income Taxes Paid To Another State If you paid income taxes to another state on income that also is taxable in New Mexico, you need a copy of that state’s return. For you to be eligible for the credit, both states must require the same income to be taxable in their state. NOTE: If you fail to attach a copy of the other state’s return, the processing of your return may be delayed or the credit may be denied. Frequently Claimed Rebates And Credits There are a number of Rebates and Credits that taxpayers may qualify for, most commonly claimed are: • Property Tax Rebate • Child Day Care Credit • Child Income Tax Credit Property Tax Rebate To claim the property tax rebate for persons age 65 or older, or the low income property tax rebate for Los Alamos County, Santa Fe County, or Doña Ana County residents, collect your PIT-1 PIT-1-19 www.tax.newmexico.gov

What To Do Next Fill in your return using the line instructions that start on this page. When you finish filling in your PIT-1, see Before Filing Your Return on page 36. Important Guidelines Review the following items before making your entries: • Consider first preparing a working PIT-1 so you can make mistakes and notes on it. After you complete the draft, you can neatly transfer the correct entries from your working copy to a clean PIT-1. • Type or print using blue or black ink. Do not use a pen- cil. • Complete all required information on your form. Fail- ure to do this delays processing your return and may cause errors when the Taxation and Revenue Depart- ment performs calculations during processing. • Leave blank all spaces and boxes that do not apply to you. Do not draw lines through or across areas you leave blank. • Round all numbers and enter only whole dollar amounts. For example, enter $10.49 as $10 and $10.50 as $11. • Write numbers clearly and legibly to reduce processing errors and increase efficiently. Use the boxes on the form as a guide for your handwritten entries. • Do not use dollar signs ($), decimal points (.), or any punctuation marks or symbols other than a comma (,). • To show a loss on PIT-1, line 9, place a minus sign (-) immediately to the left of the loss amount. Do not use brackets or parentheses. For example, if your federal adjusted gross income is negative $23,053.75, the money field entry for a loss on your PIT-1, line 9 looks like this: 0 0 -23,054 Top Of Page 1 The top of page 1 shows your filing period. All information on your return (except your mailing address) is for calendar year January 1, 2023, through December 31, 2023, or for your fiscal year. If you are filing for a fiscal year, on the two lines under De- cember 31, 2023, enter the month, day, and year your tax year began and the month, day, and year it ended. Calendar year filers leave these lines blank. Your tax year must match the tax year of your federal return. Do not file short year returns unless allowed by the Internal Revenue Service. Lines 1 and 2. Name And Social Security Number Clearly enter your name and social security number (SSN) and if applicable, the name and SSN of your spouse in exactly the same order as on your federal return. Even if you are married filing separately, your spouse’s name and SSN is required. No Social Security Number? If you or your spouse do not have an SSN, you may be eli- gible for a federal individual taxpayer identification number (ITIN) from the IRS. If you or your spouse do not have an SSN, but do have an ITIN assigned by the IRS, enter the ITIN everywhere the SSN is required. Make sure all names and SSNs or ITINs are legible, complete, and correct. For details about the ITIN and its requirements, see If You LINE INSTRUCTIONS FOR FORM PIT-1 records of the property tax billed for 2023 and/or the rent you paid on your principal place of residence. Child Day Care Credit To claim the child day care credit, you must submit a completed Child Day Care Credit Worksheet and Form PIT-CG, New Mexico Caregiver’s Statement. Each caregiver who provides day care services for which a credit amount is claimed must complete a separate PIT-CG. For more information, see instructions for PIT-RC. Withholding On Certain Government Pensions Retired members of the Army, Air Force, Navy, Marines, Coast Guard, U.S. Civil Service, the National Oceanic and Atmospheric Administration, and the U.S. Public Health Service may request that New Mexico income tax be with- held from their retirement pay by contacting the appropriate retirement pay office below: U.S. Military Retirement/Annuitant Pay Defense Finance and Accounting Service (800) 321-1080 www.dod.mil U.S. Coast Guard PPC Retiree and Annuitant Services Branch (800) 772-8724 www.uscg.mil/ppc/ras/ (Also for retired members of the National Oceanic and At- mospheric Administration) U.S. Public Health Service Commissioned Corps Compensation 5600 Fishers Lane, Room 4-50 Rockville, MD 20857 (800) 638-8744 or (301) 594-2963 All Other Federal Retirees U.S. Office of Personnel Management Retirement Operations Center (888) 767-6738 (202) 606-0500 or (202) 606-1800 www.opm.gov/retire PIT-1 PIT-1-20 www.tax.newmexico.gov

Do Not Have An SSN on page 18 of these instructions. IMPORTANT: You must provide your own SSN or ITIN, and if applicable, your spouse’s SSN or ITIN, or your return is not complete and the Department cannot process it. Blind Taxpayers If you or your spouse, if applicable, are blind for federal income tax purposes, mark X in boxes 1c and 2c. NOTE: The Department may request proof at a later date that you or your spouse, if applicable, are blind for federal income tax purposes. Do not attach the proof to your return.

65 Years of Age or Older If you or your spouse, if applicable, are age 65 years or older on the last day of the tax year, mark X in boxes 1d or 2d. Residency Status In boxes 1e and 2e, enter R, N, F, or P to indicate your residency status and, if applicable, your spouse’s residency status. Use R for resident, N for non-resident, F for first-year resident, and P for part-year resident as defined next: • Resident. New Mexico full-year residents and individu- als who were physically present in New Mexico for 185 days or more during the tax year, but were not first-year residents or certain military servicemembers and their qualifying spouses, mark R in the box. • First-Year Resident. If you moved into New Mexico during the tax year with the intent of establishing domi- cile in New Mexico, and you were still in New Mexico on December 31, 2023, mark F in the box. You are a first- year resident whether or not you were physically present in New Mexico for fewer than 185 days or more during the tax year. • Part-Year Resident. If you were physically present in New Mexico for fewer than 185 days during the tax year, and you were domiciled in New Mexico during part of the tax year but not on the last day of the tax year, mark P in the box. • Non-Resident. If you were physically present in New Mexico for fewer than 185 days and you were not domi- ciled in New Mexico during any part of the year, mark N in the box. • Military Servicemembers. If you are a military service- member, including a USPHS servicemember, you and your qualifying spouse are temporarily assigned to New Mexico, and you have established residency outside New Mexico, mark N in the box. For more information about residency and about military servicemembers, see Military Servicemembers and General Information About Military Servicemembers’ Spouses pages 2 to 4. NOTE: New Mexico’s law says every person with income from New Mexico sources who is required to file a federal income tax return must file a personal income tax return in New Mexico. This includes non-residents who have income from any New Mexico source (including wages, rents, royal- ties, businesses, and estates). Even foreign nationals and persons who reside in states that do not have income taxes must file in New Mexico when they have a federal fil- ing requirement and income from any New Mexico source whatsoever. Date of Birth In 1f, and if applicable, 2f, enter date(s) of birth in MM/DD/ CCYY format. For example, if your birthdate was on July 20, 1952, enter 07/20/1952. LINE 3. Address If your mailing address is new or has changed, mark X in box 3a. If you move after filing your return and you expect a refund, notify both of the following about your change of address: • The post office serving your old address; and • The Department. This helps in forwarding your refund or any other correspon- dence related to your tax return to your new address. You may change your address online using TAP on the De- partment’s website. You must login to TAP to change your address. To report a change of address by mail, use Form RPD-41260, Personal Income Tax Change of Address Form. Your original signature is mandatory for a change of address. In 3b, clearly enter your address. Make sure it is an address where you can receive mail and that it is legible, complete, and correct. If you have a foreign address, enter the street address, city name and postal code in the appropriate line. Also complete the spaces for the foreign province and/or state and country. Follow the country’s practice for entering the foreign postal code, the province or state, and country. Do not abbreviate the country name. LINE 4. Deceased Taxpayer or Spouse and Any Claim- ant If the taxpayer or the spouse named on the return died be- fore you file this return, on lines 4c and 4d, enter the date of death in MM/DD/CCYY format. For example, if the death was on June 13, 2023, enter 06/13/2023. Attach a copy of the death certificate or other proof of death. If the refund must be made payable to a person other than the surviving spouse, or to the estate of the taxpayer, on line 4a enter the claimant’s name, and on line 4b enter the claimant’s SSN. You must also attach Form RPD-41083, Affidavit to Obtain Refund of New Mexico Tax Due a De- ceased Taxpayer. For more information, see Representatives of Deceased Taxpayers on page 5 of these instructions. PIT-1 PIT-1-21 www.tax.newmexico.gov

LINE 5. Exemptions Deduction amounts for personal exemptions are suspended for tax years 2018 through 2025 by the Federal Tax Cuts and Jobs Act. New Mexico uses the same definitions and qualifications pursuant to Section 151 of the Internal Revenue Code to determine exemption amounts and whether someone is your dependent or other dependent. Eligibility remains important for determining who may claim credits and other tax benefits on PIT-1 and other required forms and attachments. The total in this line item will include you, your spouse if filing a joint return, your qualifying depen- dents, and your qualifying other dependents. See instructions for Form 1040 or 1040SR for definitions for 2023. To determine the amount to enter on line 5, complete the Line 5. Worksheet for Computing the Amount on Line 5 of the PIT-1 Return below. Line 5. Worksheet for Computing the Amount on Line 5 of the PIT-1 Return 1. Yourself. Enter “1” if you can’t be claimed as an other dependent, otherwise, enter “0”. 2. Spouse. Enter “1” if married filing jointly and can’t be claimed as an other dependent, otherwise, enter “0”. 3. Enter total number of dependents and other dependents as reported on your federal return. If none, en- ter “0”. 4. Total. Add lines 1, 2, and 3. Enter here and on line 5. IMPORTANT: If you, or your spouse, if married filing jointly, qualify as an other dependent of another individual for fed- eral income tax purposes, exclude yourself or that spouse from the total in line 5. Whether or not you or that spouse were actually claimed as an other dependent on the other individual’s federal return, do not include yourself or that spouse in the total in line 5. LINE 6. Extension of Time to File If you have a federal or New Mexico extension of time to file, mark X in box 6a and enter the date the extension expires in 6b. If you were granted a federal automatic six-month extension (through October 15th) or you received approval for a New Mexico extension, do not attach either of the following: • A copy of federal Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return; or • New Mexico Form RPD-41096, Application for Exten- sion of Time to File. If you are granted a federal extension for more than six months, or granted a New Mexico extension for military personnel deployed in a combat zone, special instructions and attachments are required. For more information, see Extension of Time to File on page 15 of these instructions. IMPORTANT: An extension of time to file your return does not extend your time to pay. LINE 7. Filing Status Show your filing status by marking X in the box to the left of the filing status. Use the same filing status on your PIT‑1 that you used on your federal return. If you did not file a federal return, use the filing status you would have used for federal income tax purposes. New Mexico is a Community Property State Both your New Mexico return and your federal return must reflect a correct division of community and separate income and payments in these cases: • Married persons filing separately or divorced during 2023; • Married persons filing jointly and claiming the exemption for income of persons 100 years or older; and • Married persons allocating and apportioning income inside and outside New Mexico. If your income and payments are not evenly distributed, attach a copy of a statement reflecting a correct division of community and separate income and payments. Include your spouse’s or former spouse’s name and SSN on the statement. NOTE: Even if you did not file a federal return, attach the statement explaining the division of community income and payments to your PIT-1 return. For details, see Publication FYI-310, Community Property, Divorce, Separation and Your New Mexico Income Tax. Requirements for Items 3 and 4 If you mark X in item 3, Married filing separately, your spouse’s name and SSN are required on lines 2a and 2b. If you mark X in item 4, Head of Household, on the line below item 4, enter the name of the person who qualifies you as head of household if that person is a child and not eligible to be included as a qualified dependent or other dependent under federal regulations. LINE 8. Dependents and Other Dependents Enter the name, SSN, and date of birth of each dependent and other dependent you reported on your federal return. If you have more than five qualifying dependents and other dependents, enter the name, SSN, and date of birth of the first five qualifying dependents and other dependents on PIT‑1, line 8, and the remaining qualifying dependents and PIT-1 PIT-1-22 www.tax.newmexico.gov

other dependents on 2023 Schedule PIT-S. Attach Schedule PIT-S to your 2023 PIT-1 return. NOTE: Enter only qualifying dependents and other depen- dents allowed on your federal return. Do not include yourself or your spouse on line 8 or Schedule PIT-S. Who is a Qualifying Dependent or Other Dependent? New Mexico uses the same definitions and qualifications as the IRS to determine if someone is a qualified dependent or other dependent. To find out who you may claim as a de- pendent or other dependent, see the instructions for federal Form 1040 and 1040SR. IMPORTANT: To avoid processing delays, do not use Sched- ule PIT-S unless the five dependent and other dependent lines are filled in on PIT-1, line 8, and you need additional lines. About the Three Columns In column 1, make sure the name agrees with the individual’s social security card or ITIN. In column 2, enter your dependent’s or other dependent’s correct SSN or, if your dependent or other dependent is not eligible to obtain an SSN, enter the correct ITIN required by the IRS. To find out how to apply for an ITIN, visit the IRS website at www.irs.gov. If your qualified dependent child was born and died in 2023, and you did not obtain an SSN, enter all 9s and attach a copy of the child’s birth certificate, death certificate, or hospital records. The document must show the child was born alive. In column 3, enter your dependent’s date of birth in MM/DD/ CCYY format. For example, if your child was born April 16, 2012, enter 04/16/2012. LINE 9. Federal Adjusted Gross Income Enter the federal adjusted gross income as reported on your federal Form 1040 or 1040SR, line 11. Royalty Income of Non-Residents Non-resident taxpayers who elect to calculate tax on gross royalty income under $5,000 using special procedures instead of filing a complete PIT-1 and a PIT-B, skip PIT-1, lines 9 through 16a. On line 17, enter your total gross royalty income from New Mexico sources. Calculate the tax by applying the gross royalty income to the tax rate tables. In the box on PIT-1, line 18a, enter Y instead of R or B. Then follow the instructions for lines 22 and 23, and lines 27 through 42. For more information, see Non-Residents and Royalty In- come on page 5 of these instructions. Federal Return Attachments Required Generally, you do not attach your federal return to your PIT-1. If, however, you have a combined loss of over $40,000, from one or more of the following federal forms and schedules, attach to Form PIT-1, your federal Form 1040 or 1040SR and schedules showing the loss or losses taken on Form 1040 or 1040SR. • Federal Schedules C or C-EZ for business income or loss; • Federal Schedule D for capital gains or loss; • Federal Schedule E for rental real estate, royalties, part- nerships, S corporations, trusts, income; • Federal Schedule F for farm income or loss; and • Federal Form 4797, Other gains or losses. LINE 10. Itemized State and Local Tax Deduction If you itemized deductions on your 2023 federal income tax return, on your PIT-1 Return you must add back all or part of the amount shown for Taxes You Paid (state and local) on federal Schedule A, line 5a. The amount to enter on line 10 is bound by the following two conditions: • The amount on line 10 of the worksheet cannot be larger than the difference between your itemized deduc- tion and the federal standard deduction amount you would have qualified for had you not itemized. • If the total amount of the itemized deduction for state and local taxes on line 5e of federal Schedule A, is limited by the new thresholds as a result of the changes made by the Federal Tax Cuts and Jobs Act of 2017, your state and local tax deduction add-back for state tax purposes is also reduced. The add-back amount on line 10 is proportioned by a percentage equal to the amount on line 5d of your federal Schedule A, before the limita- tion is applied. To determine the amount to enter on line 10, complete the Line 10. Worksheet for Computing the Amount on Line 10 of the PIT-1 Return. LINE 11. Total Additions to Federal Adjusted Gross Income If you completed Schedule PIT‑ADJ, lines 1 to 5, enter the Total Additions from PIT‑ADJ, line 6. If you have any of the following additions to federal adjusted gross income, file PIT-ADJ: • Interest and dividends from federal tax-exempt bonds; • A federal net operating loss carryover; • Contributions refunded when closing a New Mexico approved Section 529 college savings plan account*; • Certain contributions rolled out of a New Mexico approved Section 529 college savings plan account*, or • A charitable deduction claimed on federal Schedule • A for a donation of land to private non-profit or public conservation agencies for conservation purposes from which you were allowed the New Mexico land conservation tax credit. • Distributed net income subject to the Entity Level Tax. PIT-1 PIT-1-23 www.tax.newmexico.gov

* These should only be added back if the taxpayer took the contribution as a deduction on a prior year tax return. For information about calculating the additions, see the PIT- ADJ, lines 1 to 6 instructions. Line 10. Worksheet for Calculating Line 10 Amount 1. Enter the amount of state and local income taxes claimed on federal Schedule A, line 5a. $ 2. Enter the total amount of state and local taxes on federal Schedule A, line 5d. $ 3. Divide line 1 by line 2. Round to 4 decimal places. $ 4. Enter the amount of state and local taxes claimed on federal Schedule A, line 5e. $ 5. Multiply line 4 by line 3. $ 6. Enter the lesser of line 4 and line 5. If they are the same, enter that number here. $ 7. Enter the standard deduction amount you could have claimed on federal Form 1040 or 1040SR, line 12, if you had not itemized your federal allowable deductions. $ 8. Enter your total itemized deduc- tions from federal Form 1040 or 1040SR, line 12. Also enter this amount on PIT-1, line 12, and mark the box on line 12a. $ 9. Subtract line 7 from line 8. If less than zero, please enter 0. $ 10. Enter the lesser of lines 6 and 9. Also enter this amount on PIT-1, line 10. $ LINE 12. Federal Standard or Itemized Deduction Amount If you did not itemize deductions on your 2023 federal return, enter the allowable federal standard deduction from federal Form 1040 or 1040SR, line 12. If you itemized deductions on your 2023 federal Form 1040 or 1040SR, do the following: • Enter the allowable federal itemized deductions you reported on Form 1040 or 1040SR, line 12. • Mark box 12a. IMPORTANT: Mark box 12a only if you itemized your deduc- tions on Form 1040 or 1040SR, line 12. Charitable Deduction of Land If you claim a charitable deduction in your federal itemized deductions on federal Schedule A for a donation of land to private non-profit or public conservation agencies for con- servation purposes from which you were approved for the New Mexico land conservation tax credit, you must add back the charitable deduction amount included in your itemized deductions on federal Schedule A. To determine the amount of the charitable deduction to add back, see the Schedule PIT-ADJ, line 4 line instructions. LINE 13. Deduction for Certain Dependents A taxpayer who is not a dependent of another individual and files a return as a head of household or married filing jointly may claim a deduction from net income in an amount of $4000 for certain dependents. NOTE: Deduction is valid beginning tax year 2019, as long as the exemption amount pursuant to Section 151 of the Internal Revenue Code is zero (0). To calculate the deduction for PIT-1, line 13, complete the Line 13. Worksheet for Calculating Deduction for Certain Dependents. LINE 14. New Mexico Low- and Middle-Income Tax Exemption A New Mexico income tax exemption is allowed for low- and middle-income taxpayers. All taxpayers, including residents, part-year residents, first-year residents, and non-residents may claim this exemption in full. The maximum is $2,500 for each qualified exemption for income tax purposes. The amount varies according to filing status and adjusted gross income. Line 13. Worksheet for Calculating Deduction for Certain Dependents 1. Add the number of dependents and other dependents entered on PIT-1, line 8. 2. Add the number of dependents and other dependents entered on PIT-S. If none, enter “0” 3. Total dependents. Add lines 1 and 2. 4. Qualified dependents. Subtract “1” from total dependents entered in line 3 to arrive at the number of qualified dependents allowed to include in the deduction. 5. Multiply the qualified dependents entered in line 4 by $4000. Enter the amount here and on PIT-1, line 13. $ PIT-1 PIT-1-24 www.tax.newmexico.gov

New Mexico Low- and Middle-Income Tax Exemption Worksheet Complete this worksheet to determine your New Mexico low- and middle-income tax exemption for PIT-1, line 14. Do not attach this worksheet to your PIT-1. Keep a copy in your records. * Exemptions include the taxpayer, spouse, dependents, and other dependents reported on federal Form 1040 or 1040SR for federal income tax purposes. See PIT-1, line 5, instructions on page 22 for more details. 1. Enter the amount reported on PIT-1, line 9. If your federal adjusted gross in- come is greater than the amount listed in the table above for your filing status, do not complete this form because you do not qualify for this exemption. 2. If your filing status on PIT-1, line 7 is:

• Single, enter $20,000. • Married filing jointly or Surviving Spouse, enter $30,000. • Head of household, enter $30,000. • Married filing separately, enter $15,000. 3. Subtract line 2 from line 1. If the result is negative, enter zero here, skip line 4, and enter zero on line 5 4. If your filing status on PIT-1, line 7 is: • Single, enter 0.15. • Married filing jointly or Surviving Spouse, enter 0.10. • Head of household, enter 0.10. • Married filing separately, enter 0.20. 5. Multiply line 3 by line 4 and enter the result. 6. Subtract line 5 from $2,500 7. Enter the number of exemptions* reported on PIT-1, line 5 8. Multiply line 6 by line 7. Enter this amount here and on PIT-1, line 14. You are eligible to claim the New Mexico low- and middle-income tax exemption if: Your filing status is and your federal adjusted gross income is Single Married filing jointly or Surviving Spouse Head of household Married filing separately $36,667 or less $55,000 or less $55,000 or less $27,500 or less PIT-1 PIT-1-25 www.tax.newmexico.gov

To claim the exemption, the amount on PIT-1, line 9 must be equal to or less than any of the following: • $36,667 (if single) • $27,500 (if married filing separately) • $55,000 (if married filing jointly, surviving spouse, or head of household) To calculate the exemption, use New Mexico Low- and Middle-Income Tax Exemption Worksheet on page 25. LINE 15. Total Deductions and Exemptions from Federal Income If you completed PIT-ADJ, lines 7 to 26, on PIT-1, line 15, enter the Total Deductions and Exemptions from PIT- ADJ, line 27. You must complete and attach Schedule PIT-ADJ if any of the following are true: • You have New Mexico tax-exempt interest and dividends. • You have New Mexico net operating loss carryforward. • You have interest income from U.S. Government obliga- tions. • You have Railroad Retirement income not taxable by New Mexico. • You have Railroad Unemployment Insurance Act sick pay. • You, your spouse, or both are members of a New Mexico federally recognized Indian nation, tribe, or pueblo and your income was earned within the boundaries of the res- ervation or pueblo grant or within the boundaries of land defined as “Indian country” of which you or your spouse are/is an enrolled member while domiciled within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country”. • You, your spouse, or both are age 100 or over and not a dependent of another taxpayer. • You, your spouse, or both are age 65 or over or blind, and your adjusted gross income is not over $51,000 for a joint return; $28,500 for a single taxpayer; or $25,500 for married taxpayers filing separately. • You have federally taxable contribution to or distributions from a New Mexico Medical Care Savings account. • You contribute to a New Mexico-approved Section 529 college savings plan. • If you have net capital gains you may be able to claim a deduction of up to $1000 or 40% of those net capital gains, whichever is greater. For purposes of this deduc- tion, “net capital gains” are defined by Section 1222(11) of the Internal Revenue Code. For Tax Year 2023 that section defines “net capital gains” as only net long-term capital gains less any net short-term capital losses. • You have armed forces wages or salary from active duty service. • You, your spouse, or both are age 65 or over, and you have unreimbursed or uncompensated medical care expenses of $28,000 or more for yourself, your spouse, or dependents. • You, your spouse, or dependents have expenses related to donating human organs for transfer to another per- son. • You received a reimbursement from the New Mexico National Guard Service Member’s Life Insurance Reim- bursement Fund. • You were required to include, in your federal adjusted gross income, taxable refunds, credits, or offsets of state and local income tax (federal Schedule 1, line 1). • You are a non-resident U.S. Public Health Service (USPHS) service member and you received active duty pay. • You meet the requirements to take the Liquor license lessor deduction. • You qualify for the liquor license lessor deduction. • You, your spouse, or both have armed forces retirement pay and may qualify for a partial exemption. • You, your spouse, or both have social security income and are under the threshold to qualify for an exemption. • You meet the requirements to take the deduction for ex- penses related to a New Mexico licensed cannabis busi- ness. For details about calculating total deductions and exemp- tions, see the 2023 PIT-ADJ, lines 6 to 27 instructions. LINE 16. Medical Care Expense Deduction If you file a New Mexico PIT-1, you may claim a deduction for medical care expenses paid during the tax year for you, your spouse, or a dependent. Eligible filers include out-of-state residents with income tax responsibility to New Mexico. This deduction is available through December 31, 2024. Deduction Amount To determine the deduction amount to enter, use Line 16. Worksheet for Calculating Medical Care Expense Deduction and the instructions on page 27. You may claim the medical care expense deduction in an amount equal to the percentage of medical care expenses paid during the tax year based on your filing status and adjusted gross income. See the above Medical Care Ex- penses table. IMPORTANT: You must complete both lines 16 and 16a. Married Couples Filing Separately Married couples filing separately may claim only those expenses personally incurred. The other spouse may not claim any expenses already claimed or planned to claim by the spouse incurring the expense. Requirement 1: Provider Must Be Licensed or Certified to Practice in New Mexico When medical expenses are incurred for services provided by a medical doctor, osteopathic physician, dentist, podiatrist, chiropractic physician, or psychologist, the person providing the service must be licensed or certified to practice in New Mexico. In the medical expenses incurred to calculate the medical care expense deduction, you cannot include ex- PIT-1 PIT-1-26 www.tax.newmexico.gov

penses paid to a provider who does not meet this requirement. An exception to the requirement for the doctor to be licensed or certified in New Mexico applies when medical expenses are for qualified long-term care services as defined in Sec- tion 7702B (c) of the IRC. Requirement 2: Claim Only Unreimbursed and Uncompensated Expenses Not In Federal Itemized Deduction Amount For purposes of the medical care expense deduction, you may claim only unreimbursed and uncompensated medical expenses not included in your itemized deduction amount on federal Schedule A. You may include on line 16 medical care expenses not included in the itemized deduction amount that are part of the federal 10% of adjusted gross income. Ineligible Expenses Reimbursed and compensated insurance premiums, like those paid with pre-tax dollars under cafeteria and similar benefit plans, are ineligible. Do not claim payments to a veterinarian or veterinary clinic or any other expenses for family pets or other animals. These expenses are ineligible. Eligible Expenses Some of the expenses you may include are the following: 1. Amounts paid as premiums under Part B of Title XVIII of the Social Security Act (Medicare), 2. Amounts paid for a qualified long-term care insurance contract defined in Section 7702B(b) of the IRC, and 3. Unreimbursed insurance premiums and co-payments not deducted for federal purposes. NOTE: Premiums paid with pre-tax dollars through payroll deductions are not eligible. Additional Exemption and Tax Credit If you or your spouse are at least 65 years old and you paid unreimbursed and uncompensated medical care expenses over $28,000 during 2023, you may also be eligible to claim an exemption of $3,000 and a tax credit of $2,800. For de- tails, see the instructions for PIT-ADJ, line 18 and PIT-RC, line 23. Definitions The following definitions apply for purposes of this deduction: 1. “Health care facility” means a hospital, outpatient facility, diagnostic and treatment center, reha- bilitation center, free-standing hospice, physician’s office, or other similar facility, regardless of location, where medical care is provided and which is licensed by any governmental entity; 2. “Medical care” means the diag- nosis, cure, mitigation, treatment or prevention of disease, or care for the purpose of affecting any structure or function of the body; 3. “Medical care expenses” means amounts paid for: a. The diagnosis, cure, mitigation, treatment or prevention of disease, or care for the purpose of affecting any structure or function of the body, if provided by a physician or in a health care facility. Cosmetic surgery is not eligible; b. Prescribed drugs or insulin, and oxygen. A “prescribed drug” is a drug or biologically active substance for use in or on humans that requires a prescription or administration by a person licensed to do so. Costs for over-the-counter drugs are not eligible. Prescribed drugs for animals are not eligible; c. Qualified long-term care services as defined in Section 7702B (c) of the Internal Revenue Code; d. Insurance covering medical care, Line 16. Worksheet for Calculating Medical Care Expense Deduction 1. Determine your eligible medical care expenses paid during the tax year and enter here. IMPORTANT: Also enter this amount on line 16a. $ 2. From the Medical Care Expenses table below, enter the correct Percentage of Paid Medical Expenses based on your filing status and your adjusted gross income. % 3. Multiply line 1 by line 2. Enter on PIT-1, line 16. $ Medical Care Expenses Surviving Spouses and Married Individuals Filing Joint Returns If Adjusted Gross Income Is Percentage of Paid Medical Expenses Not over $30,000 25% From $30,001 to $70,000 15% Over $70,000 10% Single Individuals and Married Persons Filing Separate Return If Adjusted Gross Income Is Percentage of Paid Medical Expenses Not over $15,000 25% From $15,001 to $35,000 15% Over $35,000 10% Head of Household If Adjusted Gross Income Is Percentage of Paid Medical Expenses Not over $20,000 25% From $20,001 to $50,000 15% Over $50,000 10% PIT-1 PIT-1-27 www.tax.newmexico.gov

including amounts you paid as premiums under part B of Title XVIII of the Social Security Act (Medicare) or for a qualified long-term care insurance contract defined in Section 7702B (b) of the Internal Revenue Code, if the insurance or other amount is income for the tax year; e. Nursing services, regardless of where the services are rendered, if provided by a practical nurse or a professional nurse licensed to practice in the state according to the Nursing Practice Act; f. Specialized treatment or the use of special therapeutic devices if a physician prescribes the treatment or device, and the patient can show that the expense was incurred primarily for the prevention or alleviation of a physical or mental defect or illness. “Special therapeutic devices” include corrective eyeglasses, contact lenses and hear- ing aids prescribed by a physician. However, expenses for guide dogs are excluded; g. Care in an institution other than a hospital, such as a sanitarium or rest home, if the principal reason for the presence of the person in the institution is to receive the medical care available. If the meals and lodging are a necessary part of such care, the cost of the meals and lodging are “medical care expenses”; 4. “Physician” means a medical doctor, osteopathic physi- cian, dentist, podiatrist, chiropractic physician or psy- chologist licensed or certified to practice in New Mexico. Keep Documentation of Expenses Keep full documentation of all medical care expenses for which you claim a deduction. Receipts are necessary if you are selected for audit or verification of deductions claimed. IMPORTANT: Do not send your documentation with your tax return. LINE 16a. Unreimbursed and Uncompensated Medical Care Expenses Enter the total of qualifying unreimbursed and uncompen- sated medical care expenses you used to calculate your medical care expense deduction claimed on line 16. LINE 17. New Mexico Taxable Income Add lines 9, 10, and 11, then subtract lines 12, 13,14, 15, and 16. If the result is negative, enter zero. This is your New Mexico taxable income. NOTE: Line 18 shows your New Mexico tax due based on your calculation of New Mexico taxable income amount on line 17. Non-Residents Using Gross Royalty Income If you are a non-resident and you elect to calculate tax on gross royalty income under $5,000 using special procedures instead of filing a complete PIT-1 and PIT-B, enter your gross royalty income from New Mexico sources on PIT-1, line 17 and enter Y in box 18a. Calculate your tax by applying the tax rate tables to the gross royalty income. NOTE: Only complete PIT‑1 lines 1 to 8, 17, 18a, 22, 23, and 27 to 42. For more information, see Non-Residents and Royalty Income on page 5 of these instructions. LINE 18. New Mexico Tax Unless you qualify for Schedule CC, calculate your New Mexico tax by using one of these methods and then com- plete line 18a: • If you have income from sources inside and outside New Mexico, use your entry on PIT-B, line 14 or; • Use the rate tables from the PIT-1 instructions, starting on page 1T. About PIT-B and the Rate Tables If you have income from sources inside and outside New Mexico, complete PIT-B to calculate your tax. Otherwise, use the tax rate tables. If you use the rate tables, make sure to use the taxable income amount on line 17. About Schedule CC If you qualify to file Schedule CC, Alternative Tax Schedule, enter only the amount from Schedule CC, line 3 on line 18. Schedule CC is for taxpayers who: • Have no business activities in New Mexico other than sales, • Do not own or rent real estate in New Mexico, and • Have annual gross sales in or into New Mexico of $100,000 or less. LINE 18a. Rate Table Indicator In the box on line 18a, enter R or B to show the source for calculating your tax: • R = Rate tables • B = Schedule PIT-B NOTE: Non-residents may enter Y if a non-resident electing to use the special method for computing tax on gross royalty income. See the instructions for line 17 for more information. LINE 19. Additional Amount for Tax on Lump-Sum Dis- tributions If you received a lump-sum payment and you are using the special federal 10‑year tax option on federal Form 4972, you are eligible to use New Mexico’s averaging method. If you did not use the federal averaging methods available on federal Form 4972, you are not eligible to use the New Mexico averaging method. To calculate your New Mexico averaged tax, use Line 19. Worksheet for Calculating Tax on Lump-Sum Distributions, on page 29. Take the amount on line 8 of the worksheet, and enter it on PIT-1, line 19 for tax on lump-sum distributions. PIT-1 PIT-1-28 www.tax.newmexico.gov

If You File Schedule PIT- B If you have income sourc- es inside and outside New Mexico and file PIT-B, on PIT-B, line 3, allocate to New Mexico the part of the lump-sum distribu- tion you received while you were a resident. If you are a full-year resi- dent or a resident be- cause you were physically present in New Mexico for 185 days or more, you must allocate to New Mex- ico the lump-sum distribu- tion you received during the entire year. If you are a first-year resident or a part-year resident, al- locate only the amount of lump-sum distribution you received while a resident of New Mexico. IMPORTANT: If you used PIT-B to calculate New Mexico tax liability on line 18, and you also used the federal special tax option and New Mexico averaging methods to calculate tax on a lump-sum distribution on line 19, do not add line 19 when completing PIT-1, line 22 as instructed. Instead subtract the sum of lines 20 and 21 from the amount you entered on PIT-1, line 18. Skip line 19. You do not need to add PIT-1, line 19 when completing PIT-1, line 22 because the New Mexico part of line 19 (lump-sum distributions) is included in PIT-B, line 14. LINE 20. Credit for Taxes Paid to Another State A resident of New Mexico who must pay tax to another state on income that is also taxable in New Mexico may take a credit against New Mexico tax for tax paid to the other state. IMPORTANT: This credit is for tax that another state imposes on any part of income that by law is included in a New Mexico residents net income. When calculating the allowable credit, do not include tax withheld. If the specific item of income is not subject to taxation in both states, no credit is available. The credit may not be more than: • The New Mexico tax liability due on your PIT-1, • The tax you paid to the other state. • The amount of New Mexico income tax liability calcu- lated on the part of income taxed in both states. Complete the Line 20. Worksheet for Computation of Allow- able Credit for Taxes Paid to Other States by New Mexico Residents, on page 30. You must attach all of the following to your PIT-1: • A copy of the worksheet(s), and • Income tax return(s) from the other state(s). If you are not filing as a resident of New Mexico, income should be allocated using the Schedule PIT-B. Income on Schedule PIT-B Income allocated or apportioned outside New Mexico on PIT-B does not qualify for credit for taxes paid to another state on that same income. “State” means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, any territory or possession of the United States, or any political subdivi- sion of a foreign country. “State” does not include the central governments of foreign countries. Income tax you paid to any municipality, county, or other political subdivision of a state, or to any central government of a foreign country, does not count toward the credit. IMPORTANT: If you file a Schedule PIT-B, a credit for tax paid to another state is only allowed when you enter income that must be allocated or apportioned to New Mexico in PIT- B, column 2. Income that is not required to be allocated or apportioned to New Mexico does not qualify for the credit for taxes paid to another state. Example 1. A New Mexico resident’s interest earned from an investment in Arizona is allocated to New Mexico on PIT-B, column 2. The resident can claim the credit for taxes paid to another state when the interest income is: • Required to be allocated to New Mexico and • Taxed in Arizona. Example 2. A New Mexico resident allocates rental income from property located outside of New Mexico on PIT‑B. The resident cannot claim credit for tax paid to another state Line 19. Worksheet for Calculating Tax on Lump-Sum Distributions 1. Taxable income from PIT-1, line 17 2. Amount of lump-sum income reported for purposes of 10-year tax option or capital gains election on federal Form 4972 3. MULTIPLY line 2 by 0.20 and enter 4. ADD lines 1 and 3 5. Enter the tax from the tax rate tables* on the amount on line 4 6. Enter the tax from the tax rate tables* on the amount on line 1 7. SUBTRACT line 6 from line 5 and enter difference 8. MULTIPLY the amount on line 7 by 5. (This is the additional aver- aged tax due on the lump-sum income.) Enter on PIT-1, line 19 *Use the rate tables from the PIT-1 instructions, starting on page 1T of 2023 Tax Look Up Table. PIT-1 PIT-1-29 www.tax.newmexico.gov

Line 20. Worksheet for Computation of Allowable Credit for Taxes Paid to Other States by New Mexico Residents Name of other state___________________ 1. Enter amount of tax due to the state on the return...................... 1._____________ 1.____________ 2. Enter taxable income on which you calculated the tax on line 1.

If applicable, enter the state’s taxable income after applying the state’s allocation and apportionment percentage. For New Mexico, this is from PIT-1, line 17 (New Mexico Taxable Income) multiplied by the New Mexico percentage, if any, on PIT-B, line 12............................................................................... 2._____________ 2.____________ 3. DIVIDE line 1 by line 2. This is the average effective tax rate on the state’s income. Calculate to four decimal places (for example, 0.0517)......................................................................... 3._____________ 3.____________ 4. From each state’s return, enter the part of income subject to tax in both states, but not more than the amount on line 2.

Note: The amount in column 1 will be the same as the amount in column 2...................................................................................... 4._____________ 4.____________

5. MULTIPLY line 3 by line 4............................................................ 5._____________ 5.____________ 6. Enter the lesser of line 5, column 1 and line 5, column 2, but not

more than the amount in column 1, line 1. This is the credit

allowed for tax paid to the other state.......................................... 6._____________ Enter the amount from line 6 of this worksheet on your 2023 PIT-1, line 20. If you claim a credit for tax paid to multiple states, total the amounts on line 6 from the worksheets you completed for each state, and enter the sum on 2023 PIT-1, line 20. COLUMN 1 from the New Mexico return COLUMN 2 from the other state’s return NOTE: Complete a separate worksheet for each state that imposed tax on income also taxed in New Mexico. Important: If you are claiming credit for taxes paid to another state on PIT-1, line 20, you must attach: • a worksheet for each state • a copy of the other state(s) Income Tax Return(s) PIT-1 PIT-1-30 www.tax.newmexico.gov

because the resident did not include that income on PIT-B, column 2. NOTE: Effective for retirement income received after De- cember 31, 1995, federal law prohibits any state from taxing certain retirement income (mainly pension income) unless you are resident of, or domiciled in, that state. For example, if you receive a pension from your former California employer and you now reside in New Mexico, California may not tax your retirement income. Because you are now a New Mexico resident, your retirement income is taxable in New Mexico. New Mexico Taxpayers with Permanent Home in Other States Some taxpayers have permanent homes in other states, and they are physically present in New Mexico for at least 185 days during the tax year. If you are one of these taxpayers, you must file as a resident of New Mexico. Allocate your income to New Mexico as a resident on PIT-B. If you qualify, you may take a credit for taxes paid to your home state on PIT-1, line 20. LINE 21. Business-Related Income Tax Credits Applied The business-related income tax credits you may be eligible to claim against your New Mexico personal income taxes are on the table, Attachments Required to Claim PIT-CR Busi- ness - Related Tax Credits starting on page 11. If you are eligible, do the following: • Complete PIT-CR. • From PIT-CR, line A, enter the total amount you claimed and applied to your tax due in PIT‑1, line 21, • From PIT-CR, line B, enter the total amount of tax credit that may be refunded to you, on PIT-1, line 26. See instructions for line 26, • Attach Schedule PIT-CR (and any required forms or documentation to support your claim) to your PIT-1. For information about these credits, see the instructions for PIT-CR. LINE 22. Net New Mexico Income Tax To find your net New Mexico income tax in all cases, except the PIT-B situation described next, do the following: 1. Add lines 18 and 19. 2. Add lines 20 and 21. 3. From the result of step 1, subtract the result of step 2. This amount cannot be less than zero. Calculation When Using PIT-B and Claiming Additional Amount of Tax on Lump-Sum Distributions Although PIT-1, line 22 says to add line 19, do not add line 19 if both of the following are true: • For PIT-1, line 18, you used PIT‑B to calculate your New Mexico tax liability. • For PIT-1, line 19, you used the New Mexico averaging method to calculate tax on a lump-sum distribution. If both are true, calculate your net New Mexico income tax for line 22 by following these steps: 1. Add lines 20 and 21. 2. From the amount on line 18, subtract the result of step 1. In this case, you do not add PIT-1, line 19 when completing PIT-1, line 22. The New Mexico part of line 19 (lump-sum distribution) is already included in PIT‑B, line 14. LINE 24. Total Claimed on Rebate and Credit Schedule If you claim any of the following special New Mexico rebates or refundable credits, complete and attach PIT-RC to your PIT-1: • Low income comprehensive tax rebate; • Property tax rebate (for low-income persons 65 or older); • Additional low income property tax rebate for Los Ala- mos County, Santa Fe County, or Doña Ana County residents; • Child day care credit; • Refundable medical care credit for persons 65 years of age or older, • Special needs adopted child tax credit, and; • Child Income Tax Credit LINES 25, 25a, and 25b*. Working Families Tax Credit If you were a New Mexico resident during any part of 2023 and you file a PIT-1, you may claim the Working Families Tax Credit (WFTC). The credit is 25% of the Earned Income Credit (EIC), also referred to as the Earned Income Tax Credit (EITC), for which you are eligible the same tax year. Effective January 1, 2021 per Section 7-2-18.15 NMSA 1978- If you would have been eligible for the EIC but do not meet the following federal requirements: • identification number • age • provided that the taxpayer is at least eighteen years of age but has not reached the age of twenty-five within the taxable year You may still claim the WFTC under the NM Expansion* on your PIT-1. To calculate the amount of the EIC you would have been eligible for refer to IRS Publication 596, Earned Income Credit (EIC) and the EIC Worksheet in the instruc- tions for IRS Form 1040 and 1040-SR. Enter the amount calculated in line 25a. Line 25a. Enter the amount of federal earned income credit (EIC) reported on your 2023 federal income tax return or calculated under NM Expansion *WFTC NM Expansion- Enter the amount you calculated using the Federal EIC Worksheet. Line 25b. If you qualified for the EIC on your federal return, leave this box blank. *WFTC NM Expansion- If you did not qualify for the EIC PIT-1 PIT-1-31 www.tax.newmexico.gov

on your federal return but meet the requirements under the WFTC NM Expansion, mark this box. Line 25. Multiply the amount on line 25a by 0.25 (25%) and round the result to the nearest dollar. Enter amount here. IMPORTANT: You must complete all applicable lines 25, 25a, and 25b or the credit will be denied. If you qualify for the WFTC and the credit exceeds your income tax liability for the tax year of the claim, you may receive a refund. For More Information To see all the requirements for claiming the EIC, read the rules in the federal 1040 or 1040SR tax package or see IRS Publication 596, Earned Income Credit (EIC). You may also read about the EIC on the IRS website at www.irs.gov and download the publication from the site. LINE 26. Refundable Business-Related Income Tax Credits From PIT-CR, line B, enter the total amount of your refund- able part of the following tax credits. • Film Production Tax Credit; • New Film Production Tax Credit; • New Mexico Film Partner New Film Production Tax Credit; • Renewable Energy Production Tax Credit; • New Solar Market Development Tax Credit; • 2021 Sustainable Building Tax Credit; and • Technology Jobs and Research and Development (Ad- ditional) Tax Credit. Line 26 shows the refundable amount of business-related income tax credits you may claim. LINE 27. New Mexico Income Tax Withheld Except for income from oil and gas proceeds and income from pass-through entities (covered in lines 28 and 29), enter the total of all your other New Mexico income tax withheld. These are shown on your annual withholding statements, including Form(s) W-2, W-2G, 1099, 1099-R, and 1099-MISC. Attach a copy of the forms to your PIT-1. Payments You Cannot Include Do not include income tax withheld from your share of the net income of a pass-through entity or from oil and gas proceeds. Do not include any payment you made for gross receipts tax, withholding tax, compensating tax, or any other type of tax due to the State of New Mexico. These payments are not payments towards your personal income tax liability. They are not considered “tax withheld,” “estimated,” or “other” payments on your PIT-1. Tax Withheld in Error If New Mexico tax was withheld in error on your wages, sal- ary, or tips, and you had no income tax responsibility to New Mexico on that income, obtain a letter from your employer or payor with the following information: • Explanation of the cause of the error; and • Statement that no New Mexico income tax was due on the income reported. If New Mexico tax was withheld in error on your pension or annuity, and you had no income tax responsibility to New Mexico on that income, provide one of the following: • A copy of the state income tax return for the state in which you are domiciled; or • Other information showing your residency in another state. Provide these documents to the Personal Income Tax Cor- respondence unit by mail, fax, or email: Mail: P.O. Box 630 Santa Fe, New Mexico 87504 Fax: 505-827-2526 Email: TRD.TaxReturnHelp@tax.nm.gov LINE 28. New Mexico Income Tax Withheld From Oil and Gas Proceeds Enter the total of all New Mexico income tax withheld from oil and gas proceeds as shown on your annual withholding statements, 1099-MISC, and RPD-41285, Annual Statement of Withholding of Oil and Gas Proceeds. Attach a copy of the forms to your PIT-1. LINE 29. New Mexico Income Tax Withheld From or Paid by a Pass-Through Entity Enter the total New Mexico income tax withheld from the net income of or paid by pass-through entities as shown on your annual withholding statements, 1099-MISC, and Form RPD- 41359, Annual Statement of Pass-Through Entity Withhold- ing. Attach a copy of the forms to your PIT-1. An entity that has had tax withheld cannot pass a withholding statement directly to its owners, members, partners, or beneficiaries. The entity must first file and report the tax withheld on its New Mexico income tax or annual information return. After filing and reporting the tax withheld, the entity may then pass the tax withheld to another entity by issuing the owner, member, partner, or beneficiary an annual withholding statement. LINE 30. 2023 Estimated Income Tax Payments Enter the total of New Mexico estimated tax payments you made for 2023 as shown in your records. Include all of the following: • Estimated payments you made with PIT-ES payment vouchers; • Your last installment payment, even if you pay it in 2024; and • Overpayments from your 2022 return that you applied to your 2023 taxes. Do not include any of the following payments: • Extension payments you made with PIT-EXT payment vouchers; • Any return payments you made with PIT-PV payment vouchers; and PIT-1 PIT-1-32 www.tax.newmexico.gov

• PIT-EXT or PIT-PV payments you made through the Department website. NOTE: Report extension and return payments on PIT-1, line 31. Different Name Or SSN If you made any estimated payments using a different name or SSN, attach a schedule to your return showing how you made each estimated payment. Example. Before her marriage in August 2023, a taxpayer made two estimated tax payments in her name and SSN only. She made two additional estimated tax payments after the marriage, but they showed her new spouse’s name, and SSN. She enters the total of all estimated payments on PIT-1, line 30. She also attaches a schedule that shows the name(s) and SSN(s) reported with each estimated tax payment. IMPORTANT: A payment for gross receipts tax, withholding tax, compensating tax, or any other type of tax due to the State of New Mexico is not a payment towards your personal income tax liability. Do not include these payments as “tax withheld,” “estimated,” or “other” payments on your PIT-1. LINE 31. Other Payments Enter the total payments you made toward your 2023 personal income tax liability that are not included on line 30, including: • Extension payments you made with PIT-EXT payment vouchers; • Return payments you made with PIT-PV payment vouchers; • PIT-EXT or PIT-PV payments you made through the Department website. IMPORTANT: You do not need to include any payments you attach to your return or payments you submit after you file the return. LINE 32. Total Payments and Credits Add lines 24 through 31, and enter the total here. LINE 33. Tax Due/Amount You Owe If line 23 is greater than line 32, the difference is the amount of tax you owe. Subtract line 32 from line 23, enter the dif- ference here. LINE 34. Penalty on Underpayment of Estimated Tax This line is only for taxpayers who owe an underpayment penalty. Leave the line blank if you do not owe an underpay- ment penalty. For details about calculating penalty, see the instructions for PIT-ES, Personal Income Estimated Tax Payment Voucher. The rate is subject to change quarterly. Department Process for Penalty Due If you are due a refund the Department reduces your refund by the amount of the penalty due. LINE 35. Special Method Allowed for Calculation of Underpayment of Estimated Tax Penalty Generally, taxpayers who pay penalty on underpayment of estimated tax using the standard method of computing pen- alty on underpayment of estimated tax, do not need to make an entry in the box on line 35 or file RPD-41272. However, if you owe penalty for underpayment of estimated payments, and you qualify for one of the special methods,you will need to file this form. By using one of the special methods to cal- culate underpayment of estimated tax, you may be able to reduce or eliminate penalty if you qualify. To use a special method, you must meet two requirements and then enter a number from 1 to 5 in the box on line 35 to identify the method. Two Requirements for Using a Special Method You can use a special method if both the following are true: • You owe penalty for underpayment of estimated person- al income tax using the standard method of calculating the penalty. • You qualify for a special penalty calculation method, which reduces the amount of penalty due. Identify the Special Method You Use If both conditions described are true, enter 1, 2, 3, 4, or 5 in the box on line 35 to indicate the method you elect to calcu- late your underpayment penalty. To use the special penalty calculation, the Department requires you to complete and attach Form RPD-41272, 2023 Calculation of Estimated Personal Income Tax Underpayment Penalty, to your PIT-1. For a description of the calculation methods and the mean- ing of the entries 1, 2, 3, 4, or 5, see RPD-41272 or the instructions for PIT-ES, Personal Income Estimated Tax Payment Voucher. Leave the box blank when: • You owe penalty on underpayment of estimated tax using the standard method of calculating the under- payment penalty, and you do not qualify for one of the special methods, and • You do not owe penalty on underpayment of estimated tax. LINE 36. Penalty If you file late and owe tax, or if you do not pay the tax on or before the date your return is due, enter penalty here. Calculate penalty by multiplying the unpaid amount of tax due on line 33 by 0.02 (2%). Then multiply this product by the number of months or partial months for which your return or payment is late. The result cannot exceed 20% of the tax due. LINE 37. Interest If you do not pay the income tax due on or before the original due date of your return, even if you receive an extension of time to file, add interest. PIT-1 PIT-1-33 www.tax.newmexico.gov

IMPORTANT: When you pay your principal tax liability, interest stops accruing. Because it stops accruing, you do not need to calculate the amount of interest due on your return past the date you pay the principal tax. Interest Calculated on a Daily Basis Interest is calculated on a daily basis at the rate established for individual income tax purposes by the IRC. Formula to Calculate Daily Interest Tax due x daily interest rate for the quarter x number of days late = interest due. Interest Changes Quarterly The IRC rate, which changes quarterly, is announced by the IRS in the last month of the previous quarter. The annual and daily interest rates for each quarter are posted on our website at https://www.tax.newmexico.gov/individuals/file- your-taxes-overview/penalty-interest-rates/. LINE 38. Tax, Penalty, and Interest Due Add lines 33, 34, 36, and 37 and then enter the total amount due. LINES 39 through 42. Overpayment/Refund If line 23 is less than line 32, you have an overpayment. Sub- tract line 23 from line 32, and enter the difference on line 39. If you have penalty or interest due from lines 34, 36, or 37, reduce your overpayment by the sum of the amounts in those lines. If you owe penalty or interest the Department will reduce your overpayment by penalty and interest amounts. You can handle your overpayment in any or a combination of the following ways: • You can use it for voluntary fund contributions. To do this, enter the amount you wish to contribute on line 40 and attach Schedule D to your PIT-1. For information, see Schedule D, New Mexico Voluntary Contributions Sched- ule. • You can apply your overpayment to your 2024 estimat- ed tax. To do this, enter the overpayment amount you wish to carry forward to the next year, on line 41. You can have the Department refund all or part of your overpayment to you. To do this, enter the amount on line 42. Important: An overpayment credited toward your 2024 estimated tax cannot be refunded until you have filed your 2024 tax return in 2025. Unless you attach to your return a signed statement asking for a refund of one dollar or less, the Department does not refund that amount. Receiving a Paper Check in the Mail If you request an amount to be refunded to you on line 42, and you leave the Refund Express section blank (below line 42 and described next), the Department mails a paper check to the address on your return. Refund Express Section Use the Refund Express section (below line 42) to request a direct deposit of your refund. If you request an amount to refund to you on line 42, the Department can refund your tax by depositing it directly into your bank account with Refund Express. IMPORTANT: This is only available for deposits to the tax- payer’s account. You may not request deposit of refunds into another person’s account. The Department is not responsible for the misapplication of a direct deposit refund caused by the error, negligence, or malfeasance on the part of the taxpayer. Receiving a Direct Deposit To receive a direct deposit, complete all the information requested in the Refund Express section: • RE.1 Bank routing number • RE.2 Account number • RE.3 Checking or savings ac- count • RE.4 Location question IMPORTANT: All fields are required. Failure to complete all four fields properly causes denial of your request. In that case, the Department mails you a paper check. The Department also mails you a paper check if your bank does not accept your Refund Express information. Bank Routing Number The routing number identifies your bank. If the first two digits are not a number from 01 to 12 or 21 to 32, the system rejects the direct deposit and issues you a check. On the sample check the routing number is 211500151. PIT-1 PIT-1-34 www.tax.newmexico.gov

IMPORTANT: A bank routing number must have nine digits. If your check states it is payable through a bank different from the financial institution where you have your checking account, do not use the routing number on that check. In- stead, contact your financial institution for the correct routing number to enter on line RE.1. Bank Account Number Your account number can be up to 17 characters. Include hyphens, but omit spaces and special symbols. On line RE.2, enter the account number from left to right leaving unused boxes blank. On the sample check below, the account number is 2015551517. Do not include the check number in your account number. CAUTION: Some financial institutions do not allow deposit of a joint refund into an individual account. If a financial institution refuses a direct deposit, the Department is not responsible. Will This Refund Go To or Through An Account Located Outside the United States? To comply with federal banking rules, you must indicate whether the refund will go to or through an account outside the United States in question RE.4. If it is, you may not use this refund delivery option. You may use a different bank account or leave the Refund Express portion blank and a paper check will be mailed to the address on the return. A financial institution is located within the territorial jurisdic- tion of the United States if it is: • located within the United States; • located on a United States military base; or • located in American Samoa, Guam, the Northern Mari- ana Islands, Puerto Rico or the U.S. Virgin Islands. If you answer this question incorrectly, your refund may be delayed, rejected or frozen by the National Automated Clear- ing House Association (NACHA) or the Office of Foreign Assets Control (OFAC). Benefits of Using Refund Express These are some of the benefits of using Refund Express: • Avoid delays that may occur in mailing a check. Refund Express does not guarantee that you will received your refund check earlier. Only that, when the check is is- sued, it will reach the bank more quickly. • Your payment is more secure. A paper check can get lost or stolen. • Direct deposit is more convenient. You save yourself a trip to the bank. • A direct deposit saves tax dollars. It costs less than a check. • Direct deposit is environmentally friendly. Refunds de- posited directly into your account save paper. HSD.1 Check box Taxpayers who would like to be evaluated for medical benefit eligibility through Human Services Department (HSD) and New Mexico Health Insurance Exchange (NMHIE), mark the check box. Read below for more information. HB-95 (2022) authorized the Health Easy Enrollment Act. This Act provides taxpayers an easy way to submit their information (names, date of birth, tax identification numbers, income, and household size) to HSD to be evaluated for medical benefit eligibility. Taxpayers who do not qualify under an HSD offered medical assistance program will have their information forwarded to NMHIE for evaluation. Paid Preparers Use Only Section Anyone you pay to prepare your return must enter the fol- lowing information in the Paid preparer’s use only section on PIT‑1, page 2: • Signature (by hand or any other method of electronic signature acceptable to the IRS) and date; • The firm’s name or, if you are self-employed, your name; • New Mexico 11-digit NMBTIN (see next paragraph), formally known as your CRS number; • Preparer Tax Identification Number (PTIN); • Federal Employer Tax Identification Number, if appli- cable; • Phone number; and • Indicator for Form RPD-41338. About the NMBTIN A paid preparer who is not required to have a New Mexico Business Tax Identifications Number (NMBTIN) is not re- quired to complete this field. Generally, persons are required to obtain a NMBTIN if any of the following are true: • They perform services in New Mexico. • They have an employee or a business location in New Mexico. • They sell property in New Mexico. • They lease property employed in New Mexico. RPD-41338, Right To Waive Electronic Filing Requirement A taxpayer whose return is prepared by another person may elect to waive the tax preparer’s requirement to file by electronic media. If you do not want your preparer to file your return by Department-approved electronic media, the preparer must do the following: • Keep on file a signed Form RPD-41338, Taxpayer Waiv- er for Preparers Electronic Filing Requirement. • In the Paid preparer’s use only section, mark X in the box to indicate the preparer has an RPD-41338 on file for you. Do not submit RPD-41338 to the Department with your return. Preparer Who Does Not Charge You If someone prepares your return and does not charge you, that person does not sign the return. However, the Depart- ment recommends that you make sure to keep a record of: PIT-1 PIT-1-35 www.tax.newmexico.gov

• The name of the person who prepared your return and • The person’s phone number or other contact informa- tion. This information is important in case questions come up after filing your return. For more information about paid preparers and requirements that apply to them, see Interest and Penalties on page 15. Collection Of Debts From Your Refund If you owe other taxes to the Department, the Department keeps all or part of your overpayment. The Department ap- plies that amount to your liability. By law, the Department is required to transfer all or part of your overpayment to certain claimant agencies if you owe a debt for any of the following: • past due child support; • medical support liabilities; • educational assistance loans made under the Educa- tional Assistance Act; • TANF liabilities; • SNAP liabilities; • unemployment compensation; • district court liabilities; • magistrate court liabilities; • Bernalillo County Metropolitan Court liabilities; • municipal court liabilities; • workers’ compensation liabilities; • educational assistance loans made with the New Mexico Higher Education Department.

The Department refunds any amount over your liability and debt to you. IMPORTANT: If you receive notification that all or part of your refund was transferred to a claimant agency and you want to protest that action, contact the agency. The ad- dresses and phone numbers are provided here for your convenience. If your refund was transferred to a claimant agency in error, that agency is required to correct the error and issue you a refund. Child Support Human Services Department Child Support Enforcement Division P.O. Box 25110 Santa Fe, NM 87504 (505) 827-7206, fax (505) 827-7285 (800) 288-7207 in state (800) 585-7631 out of state New Mexico Educational Assistance Foundation Loan Servicing Department Collections P.O. Box 27020 Albuquerque, NM 87125 (505) 345-3371 Medical/TANF/SNAP Assistance Human Services Department Accounts Receivable Bureau Restitution Unit P.O. Box 2348 Santa Fe, NM 87504-2348 (800) 431-4593 Unemployment Assistance New Mexico Department of Workforce Solutions Unemployment Insurance Benefit Payment Control P.O. Box 1928 Albuquerque, NM 87103 (877) 664-6984 Administrative Office of the Courts (for information on specific courts) Warrant Enforcement Division 237 Don Gaspar, Room 25 Santa Fe, NM 87501 (575) 524-5860 or (505) 896-9494 Workers’ Compensation Assistance Workers’ Compensation Administration Financial Management Bureau P.O. Box 27198 Albuquerque, NM 87125-7198 2410 Centre Ave. SE Albuquerque, NM 87106 (505) 841-6000 New Mexico Higher Education Department 2044 Galisteo Street, Suite 4 Santa Fe, NM 87505-2100 (505) 476-8400 PAYING YOUR TAX LIABILITY You can pay your tax liability through the Internet or by mail. Please see WHEN AND WHERE TO FILE AND PAY on page 14 of these instructions. Before Filing Your Return Now that you have completed your PIT-1, use the checklist on page 38 and follow these final steps: 1. Check the figures and your arithmetic on your PIT-1 and on all your attachments. Make sure these are original, official PIT-1 form and schedules. 2. If you created a working PIT-1, use blue or black ink to carefully transfer your figures onto the clean PIT-1 you plan to submit. 3. At the bottom of page 2, sign and date your PIT-1. If you are married and filing a joint return, both spouses must sign the return. NOTE: Parents of minor children, guardians of dependent taxpayers, surviving spouses, or estate administrators must sign the tax return on behalf of the minor child, dependent, or deceased taxpayer. Print or type the rela- PIT-1 PIT-1-36 www.tax.newmexico.gov

tionship under the signature. IMPORTANT: If you do not sign your return, the De- partment cannot process it. 4. Below the signature, the taxpayer and, if married filing joint, the spouse, is required to enter their state issued driver’s license or state issued identification card number and a two digit state code identifying the state issuing the identification number. Also enter the expiration date of driver’s license or state issued identification number. These identification numbers will be used as an addi- tional level of verification to help protect your personal information from identity theft and fraudulent returns. If the taxpayer and, if married filing joint, the spouse does not have a current state issued driver’s license or state issued identification card number, write “NONE” in the spaces provided. If the taxpayer and, if married filing joint, the spouse do not wish to provide a state issued driver’s license or state issued identification card, write “DECLINED” in the spaces provided. 5. Below the signature(s), enter your phone number and email address. 6. If you paid a preparer, the preparer must sign your return. 7. If your return shows tax due on line 38, complete the PIT-PV payment voucher. 8. Assemble your return (and payment voucher if your return shows tax due) as shown for most efficient processing. PIT-1 Followed by Schedules in This Order • 2023 PIT-1 • 2023 Schedule PIT-S, if required • 2023 Schedule PIT-ADJ, if required • 2023 Schedule PIT-RC, if required • 2023 Schedule PIT-B, if required • 2023 Schedule PIT-D, if desired • 2023 Schedule PIT-CR, if required • 2023 Schedule PIT-CR-S, if required • Other required schedules or attachments PIT-CR-S Other Schedules PIT-CR PIT-D PIT-B PIT-RC PIT-ADJ PIT-S PIT-1 W-2, etc. IMPORTANT: Do not use staples or tape to assemble your return. If making a payment, place the payment and voucher at the front of the return, in this order. • Payment (check or money order) • PIT-PV Payment Voucher PIT-PV Check or Money Order

$ _________

IMPORTANT: Do not staple or tape your payment to the payment voucher. 9. Make a copy of your original return and attachments, and keep it in a safe place in case you need to refer to it later. If someone prepares your return for you, get a copy for your records. Recommendations For Filing Your Return The Department encourages all taxpayers to file electroni- cally whenever possible. Electronic filing is fast, safe, and secure. It provides the fastest turnaround for a refund and saves tax dollars. A return filed electronically costs less than a paper return. Taxpayers who file and pay electronically receive a filing deadline extension of April 30, 2024. For all other taxpayers, the filing deadline is April 15, 2024. PIT-1 PIT-1-37 www.tax.newmexico.gov

 Are name(s) and address complete, correct, and legible?  Are SSNs legible, accurate, and entered on both pages of each form or schedule where indicated?  If filing married filing separately, are your spouse’s name and SSN included?  Did you include W-2 forms and other income and withholding information returns that show New Mexico income and tax withheld?  If PIT-1, line 11 or line 15 has an entry, did you include Schedule PIT-ADJ?  If PIT-1, line 21 and line 26 has an entry, did you include Schedule PIT-CR?  If PIT-1, line 24 has an entry, did you include Schedule PIT-RC and, if required, did you answer questions A, B, C, and D on PIT-RC?  If required, did you include Schedule PIT-B?  If PIT-1, line 40 has an entry, did you include Schedule PIT-D?  Have you checked the arithmetic on your forms? Are all required fields complete and correct?  Did you remember not to staple or tape the forms and attachments?  Is the return properly signed and dated? Is a contact phone number and email address included at the bottom of PIT-1, page 2?  Is the state issued driver’s license or state issued identification card number, expiration date, and two digit state code identifying the issuing state entered below the signature of the taxpayer and, if married filing joint, the spouse? If you do not have a state issued driver’s license or state issued identification card, write NONE in this field. If you do not wish to provide a state issued driver’s license or state issued identification card, write DECLINED in this field.  Did you prepare the original forms for mailing to the Department and make a copy of all documents for your records?  If tax is due, did you prepare a PIT-PV payment voucher and check or money order for the full amount to mail to P.O. Box 8390, Santa Fe, NM 87504-8390? Are SSNs and 2023 PIT-1 written on your check? Did you make your check or money order payable to New Mexico Taxation and Revenue Department? NOTE: The Department supports fast filing electronic payments with an E-Check or credit card at https://tap.state.nm.us.  If you are due a refund, did you make sure the address on the front of your PIT-1 is where you want your refund mailed?

 If you must make estimated tax payments for tax year 2023, did you mail a PIT-ES payment voucher and check or money order to P.O. Box 8390, Santa Fe, NM 87504-8390? Did you write all SSNs and 2023 PIT-ES on your check? Did you make your check or money order payable to New Mexico Taxation and Revenue Department? Filing Checklist REMINDER Write your correct social security umber (SSN) or individual tax identification number (ITIN) on ALL forms, schedules, payments, and correspondence. PIT-1 PIT-1-38 www.tax.newmexico.gov

New Mexico Taxpayer Bill of Rights Most tax transactions happen without problems. Sometimes, thought, troubles arise through misunderstanding, mathematical error, missed deadlines, lost papers, high volume of transactions and many other situations. Changes in the law may make earlier information outdated. Over the years the Legislature and the Department have created ways to handle difficulties according to the provisions of the state tax code. Following are some of your rights as outlined in Sections 7-1-4.1 through 7-1-4.3 NMSA 1978: • The right to available public information and prompt and courteous tax assistance; • The right to representation and advice by counsel or other qualified representatives at any time during your interactions with the Department according to provisions of Section 7-1-24 NMSA 1978, or with the Administrative Hearings Office in accordance with the provisions of the Administrative Hearings Office Act; • The right to have audits, inspections of records and meet- ings conducted at a reasonable time and place according to Section 7-1-11 NMSA 1978; • The right to have the Department conduct its audits in a timely and efficient manner and be entitled to the correct calculation of interest as provided in the Tax Administra- tion Act under Section 7-1-67 and 7-1-68 NMSA 1978; • The right to simple, non-technical information explaining procedures, remedies and rights during audit, protest , appeals and collection proceedings under the Tax Admin- istration Act; • The right to receive an explanation of audit results and the basis for audits, assessments or denials of refunds that identify tax, interest or penalty due; • The right to seek review through formal or informal pro- ceedings of findings or unfavorable decisions arising from determinations during audit or protest procedures accord- ing to Section 7-1-24 NMSA 1978 and the Administrative Hearings Office Act; • The right to have your tax information kept confiden- tial unless otherwise specified by law in Sections 7-1-8 through 7-1-8.11 NMSA 1978; • The right to an abatement of an assessment of taxes in- correctly, erroneously or illegally made (Section 7-1-28 NMSA 1978) and a right to seek a compromise of an as- serted tax liability. When the Secretary of Taxation and Revenue in good faith doubts that you owe us what we claim you owe, you also have the right to seek a compro- mise if one exists in your particular case (Section 7-1-20 NMSA 1978); • The right to clear information of the consequences if a tax assessment is not paid, secured, protested or otherwise provided for according to Section 7-1-16 NMSA 1978. If you become a delinquent taxpayer, upon notice of delin- quency you have the right to timely notice of collection actions that require sale or seizure of your property under the Tax Administration Act, and • The right to apply to pay your tax obligations by install- ment payment agreements according to the provisions of Section 7-1-21 NMSA 1978. Confidentiality Provisions: Statutes protecting the privacy of your taxes are strict and are outlined in Sections 7-1-8 through 7-1-8.11 NMSA 1978. Section 7-1-8.2 NMSA 1978 limits requiring the Department to answer questions about whether a taxpayer is registered to do business in New Mexico or is registered for other tax programs. It does not allow employees to say whether you have filed a return. Employees may discuss your account only with you or your authorized representative. A hearing officer’s written ruling on questions of evidence or procedure pursuant to the Administrative Hearings Office Act are in the public domain. The name and identification number of the taxpayer requesting the ruling are not public record. Public record includes the monthly gasoline tax reports of numbers of gallons of gasoline and ethanol-blended fuels received and deducted, and the tax paid by each filer or taxpayer pays. Identities of rack operators, importers, blenders, suppliers or distributors and the number of gallons of gasoline and other fuels are public record. The Department may reveal to the Gaming Control Board the tax returns of license applicants and their affiliates. Audit Provisions: The Department must provide you with written, dated notice that an audit is about to begin on a specific date, and the notice must tell you which tax programs and reporting periods will be covered. We must issue a second notice, which states any outstanding records or books of account requested and not yet received, between 60 and 180 days after the audit begins. If you do not produce the records within 90 days, the Department can issue an assessment of tax on the basis of the information as it stands. If you need additional time, you must submit a specific request in writing. Interest on outstanding liabilities accrues if the Department does not issue an assessment within 180 days of the notice of outstanding records or books, or within 90 days after time has expired under your request for additional time; however, you are entitled to an abatement of interest for the period of time after you have complied with Department requests and the Department has not acted on the audit. Administrative Hearing Procedures: A hearing officer may not engage or participate in any way in the enforcement or formulation of general tax policy other than to conduct hearings. You may request the Chief Hearing Officer of the Administrative Hearings Office determine if a hearing officer has engaged or participated in the enforcement or formulation of tax policy and if the hearing officer’s activities have affected his or her impartiality. The Chief Hearing Officer may designate another hearing officer for the matter. Hearing officers may not communicate unilaterally about a matter you have protested while that matter is still pending. The chief hearing officer may appoint another hearing officer if that occurs. You may request a written ruling on any contested question of evidence in matters in which you have filed a PIT-1 PIT-1-39 www.tax.newmexico.gov

How To Check the Status of Your Refund To obtain the status of your refund you may: • Go to the Department website at www.tax.newmexico.gov and click on “Where is my refund?” You will need your SSN or ITIN, and the refund amount to see the status. • You may also log in to your Taxpayer Access Point (TAP) account to get more information. When to Call If you don’t see the status of your refund using these methods, refer to the processing times below: • Electronically filed returns are generally processed within 8 to 12 weeks or less. • Paper returns or applications for a tax refund are generally processed within 12 weeks but can take longer. • Please allow 12 weeks from the submission date before calling the Department. If sufficient time has passed for your refund to be processed, and you are still not able to review the status of your refund, contact us at (866) 285-2996. Note: The New Mexico Taxation and Revenue Department has substantially increased its en- forcement efforts to combat IDENTITY THEFT and REFUND FRAUD. This enhanced review process could increase the time it takes to process your tax refund, and additional documenta- tion may be required from you to verify your refund claim. What You Need When you call or visit us on the web, make sure to have a copy of your tax return and related information. pending written protest. You also may request that two or more protests on related issues be combined and heard jointly, and the hearing officer shall grant the request unless it creates an unreasonable burden on the Department. Credit Claims: The Department has 120 days from the filing date to approve or deny a statutory tax credit. If it does not act, the credit is approved. For more information see Section 7-1-29.2 NMSA 1978. Refund Offsets: The Secretary decides whether a refund of tax due you may be offset against your other tax liabilities, and you will receive notice that the refund will be made accordingly. You are entitled to interest until the tax liability is credited with the refund amount. Please see the paragraph above on “Audit Provisions” for interest due to you if the Department does not offset a refund or credit against your other tax liabilities within the prescribed time. The Department may make a direct refund of overpaid taxes to the taxpayer without requiring the taxpayer to file a refund claim. The Department does not have to pay interest on credits or refunds if it applies the amount to a tax interception program, to an estimated payment, or to offset prior liabilities of the taxpayer. Awarding of Costs and Fees: If you prevail in an administrative or court proceeding brought by you or against you after July 1, 2003, under the Tax Administration Act, you may be entitled to a judgment or a settlement for reasonable administrative costs connected to the action. Penalty: The Department may not assess penalty against you if you fail to pay tax when due because of a mistake of law made in good faith and on reasonable grounds. If the Secretary determines that it is unfair to hold a spouse or former spouse liable for payment of unpaid taxes, the Secretary may decline to take action against the spouse or former spouse of the person who actually owes the tax. In extreme cases of delinquency under Section 7-1-53 NMSA 1978 the Department may enjoin a taxpayer from continuing in business after a hearing and until the delinquency is cleared. PIT-1 PIT-1-40 www.tax.newmexico.gov

File online for free using the Department's Taxpayer Access Point (TAP) at: https://tap.state.nm.us The Department encourages taxpayers to file electronically when possible. Filing your return online allows for faster return processing which can result in quicker refunds.

INSTRUCTIONS FOR 2023 PIT-ADJ SCHEDULE OF ADDITIONS, DEDUCTIONS, AND EXEMPTIONS GENERAL INFORMATION If either of the following apply to you, complete PIT-ADJ: • You are required to make certain additions to your federal adjusted gross income. • You are eligible to take certain deductions and exemp- tions from your federal adjusted gross income. The PIT-ADJ is required for you to claim certain additions, deductions, or exemptions. This schedule shows your total additions (line 6) and your total deductions and exemptions (line 27). Enter these totals on your PIT-1 Return to calculate your New Mexico taxable income. After completing PIT-ADJ, attach it to your PIT-1 Return. If the additions, deductions, or exemptions on this schedule do not apply to you, DO NOT complete this schedule and do not attach it to the PIT-1 return. IMPORTANT: Do not add any amounts to Schedule PIT-ADJ that are not listed on this schedule. If an item is not listed, it is not a valid New Mexico addition, exemption, or deduction for this schedule. Do not submit a statement instead of this schedule. The Taxation and Revenue Department does not accept statements instead of the Schedule PIT-ADJ. Additions to Federal Adjusted Gross Income (Lines 1–5) You are required to report the following additions to your federal adjusted gross income on Schedule PIT-ADJ: • Line 1. Interest and dividends from federal tax-exempt bonds. • Line 2. A federal net operating loss carryover. A positive number is required on this line. • Line 3. Contributions refunded when closing, or certain contributions rolled out of, a New Mexico-approved Sec- tion 529 college savings plan account. • Line 4. A charitable deduction claimed on federal Sched- ule A Line 12, for a donation of land to private non-profit or public conservation agencies for conservation purpos- es from which you were allowed the New Mexico land conservation tax credit. • Line 5. Amount of tax paid by a Pass-Through Entity on distributed net income. Each addition is described in detail later in these instructions. Deductions and Exemptions from Federal Adjusted Gross Income (Lines 7–26) Use PIT-ADJ to claim the following deductions and exemp- tions: • Line 7. New Mexico tax-exempt interest and dividend in- come. • Line 8. A New Mexico net operating loss carryforward. Must attach form RPD-41369. • Line 9. Interest on U.S. government obligations. • Line 10. Railroad retirement income or Railroad Unem- ployment Insurance Act sick pay not taxable by New Mexico. • Line 11. You, your spouse, or both are members of a New Mexico federally recognized Indian nation, tribe, or pueblo, and the income of the member was earned with- in the boundaries of the Indian member’s or the spouse’s reservation or pueblo grant or within the boundaries of land defined as “Indian country” of which one of you are a member while domiciled within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country”. If either you or your spouse are not a member of an Indian nation, tribe, or pueblo, the income of the non-member is taxable even when earned within the boundaries of a reservation or pueblo grant or within the boundaries of land defined as “Indian country”. • Line 11a and 11b. Please enter the name of the New Mexico Federally recognized Indian nation, tribe or pueb- lo of which you or your spouse is a member. • Line 12. You, your spouse, or both are age 100 or over, and not dependents of another taxpayer. • Line 13. You, your spouse, or both are age 65 or over or blind, and adjusted gross income is not over $51,000 for a joint return; $28,500 for a single taxpayer; or $25,500 for married taxpayers filing separately. • Line 14. Federally taxable contributions to or distribu- tions from a New Mexico Medical Care Savings Account. • Line 15. Contributions to a New Mexico-approved Sec- tion 529 college savings plan. • Line 16. Net capital gains deduction. • Line 17. Active duty pay for United States armed forces. • Line 18. You, your spouse, or both are age 65 or over, and claiming unreimbursed or uncompensated medi- cal care expenses of $28,000 or more for yourself, your spouse, or dependents. • Line 19. Expenses that you, your spouse, or dependant have related to donating human organs to another per- son. • Line 20. Reimbursement from the New Mexico National Guard Service Member’s Life Insurance Reimbursement Fund. • Line 21. Taxable refunds, credits, or offsets of state and local income taxes included in your federal adjusted gross income (federal Schedule 1, line 1). • Line 22. Active duty pay of a non-resident U.S. Public Health Service (USPHS) member earned in New Mexico. • Line 23. Liquor license lessor deduction. • Line 24. Armed forces retirement pay. • Line 25. Social Security Income. PIT-ADJ ADJ-1 www.tax.newmexico.gov

• Line 26. Deduction for expenses related to a New Mexico licensed cannabis business. Each deduction and exemption is described in detail later in these instructions. Preparing Your Schedule PIT-ADJ Complete your PIT-1 and then follow these steps to prepare and complete Schedule PIT-ADJ. 1. In the PIT-1 instructions, page 20, read Important Guide- lines. This section gives helpful guidelines for completing schedules and forms. 2. Make sure you have all necessary records, approvals, and certifications for the PIT-ADJ. 3. On the 2023 Schedule PIT-ADJ, enter the primary tax- payer’s name and social security number from lines 1a and 1b of your PIT-1 return. Make sure the name and number are correct and readable. 4. Using the detailed instructions for each line on the next pages, complete the 2023 Schedule PIT-ADJ. 5. Double-check the figures on your 2023 Schedule PIT- ADJ. Be sure your arithmetic is correct and make sure all entries are complete and correct. 6. If line 11 is applicable, make sure you correctly marked the boxes. 7. Transfer the total on line 6 of this schedule to PIT-1, line 11. 8. Transfer the total on line 27 of this schedule to PIT-1, line 15. 9. Attach your completed PIT-ADJ, along with any other re- quired attachments to your PIT-1 return. For other possi- ble attachments, look for Attach headings in the instruc- tions for lines 7, 8, 10,12, 18, and 20. DETAILED INSTRUCTIONS FOR EACH LINE Additions To Federal Adjusted Gross Income LINE 1. Interest and dividend income from federal tax- exempt bonds Enter your interest and dividend income from all state and municipal bonds excluded from your federal adjusted gross income. This includes all federally tax-exempt interest and dividends reported on federal Form 1040 or 1040SR from state and municipal obligations.

NOTE: Use line 7 of PIT-ADJ to claim the deduction for inter- est and dividends of obligations exempt from New Mexico taxable income. LINE 2. Federal net operating loss carryover A positive number is required on this line. From federal Schedule 1, line 8 (Other income), enter the amount of any federal net operating loss carryforward or carryback. By making this entry, you are adding the federal net operating loss taken on your federal return to the income you reported on PIT-1, line 9. The rules for applying a net operating loss deduction to New Mexico taxable income are different from federal rules. To compute the New Mexico net operating loss carryforward, see line 8 later in these instructions. LINE 3. Contributions refunded when closing a New Mexico-approved Section 529 college savings plan account and certain contributions rolled out of a New Mexico-approved Section 529 college savings plan ac- count Enter the amount of qualified contributions refunded to you or rolled over during the tax year from a New Mexico-approved Section 529 college savings plan account only if the contri- butions were deducted on an earlier New Mexico personal income tax return and if any of the following are true: • You closed a New Mexico-approved Section 529 college savings plan account, and received a refund of the con- tributions. In this case, enter the amount of contributions refunded. • You rolled over contributions from a New Mexico-ap- proved Section 529 college savings plan account to a non-New Mexico-approved Section 529 college savings plan account. In this case, enter the amount of those con- tributions. Do not include: • Earnings refunded to the investor. • Earnings rolled over from a New Mexico-approved Sec- tion 529 college savings plan account to a non-New Mex- ico-approved Section 529 college savings plan. • Qualified distributions from the Section 529 college sav- ings plan account. For more information, see Quick Guide 6, New Mexico Income Tax and Your Education Trust (529) Plan on the Department’s website. LINE 4. Charitable deduction amount claimed on federal Schedule A, Line 12, for a donation of land to private non-profit or public conservation agencies for conser- vation purposes from which you were allowed the New Mexico Land Conservation Tax Credit If both of the following are true, you must add back the chari- table deduction amount included in the itemized deductions claimed on your federal Schedule A: • You donated land to private nonprofit or public conserva- tion agencies for conservation purposes from which you claimed a New Mexico land conservation incentives tax credit. • You claimed a charitable deduction for the same contri- bution in the federal itemized deductions on your federal personal income tax return. If both are true, enter the charitable deduction amount claimed on federal Schedule A, from which you were allowed the New Mexico land conservation tax credit. PIT-ADJ ADJ-2 www.tax.newmexico.gov

LINE 5. Amount of tax paid by a Pass-Through-Entity on distributed net income Enter the amount of tax paid by a Pass-Through-Entity on distributed net income. Deductions And Exemptions From Federal Adjusted Gross Income LINE 7. New Mexico tax-exempt interest and dividends Enter the total interest or dividend income you received from the following investments: • State and local bonds exempt from New Mexico taxable income, including the State of New Mexico or its agen- cies, institutions, instrumentalities, or political subdivi- sions; • Obligations of the Commonwealth of Puerto Rico, Guam, Virgin Islands, American Samoa, or Northern Mariana Is- lands; • Federally taxable bonds issued by the State of New Mex- ico; and • Mutual funds, unit investment trusts, or simple trusts in- vested in obligations of the State of New Mexico or its agencies, institutions, instrumentalities, or political sub- divisions, or from the Commonwealth of Puerto Rico, Guam, Virgin Islands, American Samoa, or Northern Mariana Islands. You may deduct only the amount shown on the annual state- ment provided by the mutual fund, unit investment trust, or simple trust as flowing through to the investor from this investment income. NOTE: You may not deduct interest and dividends from IRAs. IRAs invested in obligations of the State of New Mexico or its agencies, institutions, instrumentalities, or political subdivi- sions, or from the Commonwealth of Puerto Rico, Guam, Virgin Islands, American Samoa, or Northern Mariana Islands do not qualify as a simple trust. Attach An Explanation If the amount on line 7 is more than the amount on line 1, attach an explanation to your return. LINE 8. New Mexico net operating loss carryforward If you have an unused New Mexico net operating loss carry- forward from a previous year, enter the carryforward amount to apply against New Mexico taxable income for 2023. All New Mexico net operating losses must flow from a fed- eral net operating loss. You cannot have a New Mexico net operating loss without a federal net operating loss. Unlike a federal net operating loss carryforward, a New Mexico net operating loss incurred cannot be carried back and if incurred on or after January 1, 2013, may be carried forward for 19 years or until the total amount of the loss carryover has been used, whichever occurs first. For a net operating loss that was incurred in tax years beginning before January 1, 2013, a New Mexico net operating loss may be carried forward for only five years. Refer to regulation 3.3.1.13(E) NMAC 1978, if the net operating loss was incurred in a tax year beginning prior to January 1, 1991. The first year you can apply a New Mexico net operating loss is: • If you filed your return on time, you can apply it the fol- lowing tax year, or • You can apply it the first tax year that begins after the date you file a return establishing the loss. Calculation To calculate the carryforward amount from a New Mexico net operating loss recognized in a previous year, follow these steps: 1. Add the next two amounts. • The federal net operating loss as defined by Section 172(c) of the Internal Revenue Service for the tax year of the loss. • Any interest received on U.S. government obligations less related expenses reported on your New Mexico tax return for the tax year of the loss. 2. From the total in step 1, subtract any loss used in earlier tax years. Attach Form RPD-41369 To show the tax year when each New Mexico net operat- ing loss occurred and how the loss was used for each tax year, for which the loss was carried forward, attach to your return Form RPD-41369, Net Operating Loss Carryforward Schedule. LINE 9. Interest received on U.S. government obligations Enter the interest you received from U.S. government obliga- tions, including any of the following: • U.S. savings bonds • Treasury bills • Notes issued by the Federal Home Loan Banks(do not include dividends) • U.S. government obligations from your share of income from partnerships, S corporations, or limited liability com- panies, or a distribution from a unit investment or simple trust Deduct Dividends You may deduct dividends from mutual funds invested in U.S. government obligations according to the percentage of the total fund invested in U.S. government obligations. To deduct these dividends, the fund must give investors statements showing the amount of interest income from investments in U.S. government obligations. Do Not Deduct As Interest Interest from the Government National Mortgage Associa- tion (Ginnie Mae), Federal National Mortgage Association (Fannie Mae), or Federal National Home Loan Mortgage Association (Freddie Mac), is not deductible as interest on U.S. government obligations. PIT-ADJ ADJ-3 www.tax.newmexico.gov

LINE 10. Taxable Railroad Retirement Act annuities and benefits, and taxable Railroad Unemployment Insurance Act sick pay If your taxable Railroad Retirement Act annuities and benefits, or your taxable Railroad Unemployment Insurance Act sick pay were part of your federal taxable income, enter the total of those amounts. Attach Forms RRB-1099 and RRB-1099-R You may receive one or both of these forms from the Rail- road Retirement Board. Attach the form(s) you receive to your return. LINES 11, 11a, and 11b. Income of a member of a New Mexico federally-recognized Indian nation, tribe, or pueblo that was earned within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country” of which the indi- vidual is an enrolled member while domiciled within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country” If you are an enrolled member of a New Mexico federally- recognized Indian nation, tribe, or pueblo, your income is exempt from federal adjusted gross income if you meet the following two conditions: • You were domiciled within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country” of membership when you earned the in- come, and • You earned the income within the boundaries of the res- ervation or pueblo grant or within the boundaries of land defined as “Indian country”. If you are the spouse of an enrolled member who is domiciled and works within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country” of the spouse’s New Mexico federally recognized nation, tribe, or pueblo, your income is taxable unless you are also a member of a New Mexico federally recognized Indian nation, tribe, band or pueblo. IMPORTANT: Income (including retirement or pension in- come) earned outside the boundaries of the reservation or pueblo grant or outside the boundaries of land defined as “Indian country” of your own or your spouse’s New Mexico federally recognized Indian nation, tribe, or pueblo is subject to New Mexico income tax no matter where you live. When Armed Forces Pay and Retirement or Pension In- come is Exempt. Armed forces pay of an enrolled member of a New Mexico federally recognized Indian nation, tribe, or pueblo is exempt only for times when the home of record and domicile is within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country” of the member’s own New Mexico federally recognized Indian nation, tribe, or pueblo. Retirement or pension income is exempt when the retire- ment or pension is the result of employment within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as “Indian country” of the mem- ber’s or spouse’s New Mexico federally recognized Indian nation, tribe, or pueblo. • Line 11, enter the amount of qualifying income. • Line 11a, enter the name of your New Mexico federally recognized Indian nation, tribe, or pueblo. • Line 11b, if applicable, list the name of your spouses New Mexico federally recognized Indian nation, tribe, or pueblo. NOTE FOR LINES 11 AND 12: You may not claim combined exemptions and deductions for more than 100% of income. If you claim rebates and credits on PIT-RC, you must also include amounts exempted or deducted on PIT-ADJ, lines 11 and 12 as income when calculating modified gross income. For more information, see the instructions for PIT-RC. LINE 12 and BOXES 12a and 12b. Income of persons age 100 years or older To qualify for this income exemption both of the following must be true: • The taxpayer or spouse must be 100 years or older (a centenarian) at the end of the tax year for which you claim the exemption. • Someone else cannot claim the centenarian as a depen- dent.

If you qualify, mark the box or boxes on lines 12a and 12b. IMPORTANT: If you do not mark the box or boxes, the De- partment denies this exemption. See the previous NOTE FOR LINES 11 AND 12. Unmarried Centenarians. If you are an unmarried centenar- ian, you do not need to file a return unless you want to claim rebates and credits available for low income filers. Married Centenarians. New Mexico is a community property state, and rules are different for married centenarians. If you are a married centenarian filing jointly or separately, you may exempt half of all community income and all of your separate income. Attach A Statement If you report an exemption for more or less than 50% of total joint income, attach a statement to your return showing a correct division of community property along with separate income and payments. Not allowed are combined exemptions and deductions for more than 100% of income. IMPORTANT: If you claim rebates and credits on Schedule PIT-RC, include this exempt income in calculating modified gross income on that schedule. See the instructions for Schedule PIT-RC. PIT-ADJ ADJ-4 www.tax.newmexico.gov

TABLE 1. Exemptions for Persons 65 or Older or Blind (see line 13 instructions) Married Filing Jointly, Head of Household, Surviving Spouse Adjusted Gross Income PIT-1 Return, Line 9

But not Over $ 0 $30,000

30,001 33,000

33,001 36,000

36,001 39,000

39,001 42,000

42,001 45,000

45,001 48,000

48,001 51,000

51,001---------------------------

Single Adjusted Gross Income PIT-1 Return, Line 9

But not Over $ 0 $18,000

18,001 19,500

19,501 21,000

21,001 22,500

22,501 24,000

24,001 25,500

25,501 27,000

27,001 28,500

28,501--------------------------- Married Filing Separately Adjusted Gross Income PIT-1 Return, Line 9

But not Over $ 0 $15,000

15,001 16,500

16,501 18,000

18,001 19,500

19,501 21,000

21,001 22,500

22,501 24,000

24,001 25,500

25,501-------------------------- Amount for each taxpayer 65 or older, or blind, for federal income tax purposes -----------$ 8,000 ----------- 7,000 ----------- 6,000 ----------- 5,000 ----------- 4,000 ----------- 3,000 ----------- 2,000 ----------- 1,000 ---------------- 0 For more information, see Bulletin B-300.03, PIT Exemption for Centenarians, at http://www.tax.newmexico.gov/. At the top, click FORMS & PUBLICATIONS, then select Bulletins from the Publications folder. Open the 300 Series-Income Taxes folder to access B-300.3. You may not claim the centenarian exemption AND the deduction for 65 and older or blind. LINE 13. Exemption for persons age 65 or older, or blind You may be eligible for an exemption of up to $8,000 based on your filing status and your federal adjusted gross income from PIT-1, line 9, if: • You are 65 or older, or • You are not yet 65, but considered blind for federal income tax purposes. Find the column in Table 1 that matches your filing status. Then find the row that includes your federal adjusted gross income. Read across to the last column for the exemption amount. When both persons in a married couple are either 65 or older or blind on the last day of the tax year, the amount in the table applies to each taxpayer on a joint return. Mark Correct Boxes on PIT-1 Return If you or your spouse are 65 years of age or older, on page 1 of PIT-1 mark boxes 1d and 2d. If you or your spouse are blind for federal income tax purposes, mark boxes 1c and 2c. If the boxes are not marked correctly, the Department denies this exemption on the Schedule PIT-ADJ. The Department at some time may request proof that you or, if applicable, your spouse are blind for federal purposes. Do not attach the proof to your return. NOTE: The Department allows only one deduction per person. You cannot take deductions for being both 65 or older and blind. EXAMPLE: A married couple files jointly and both people are 65 or older. Their federal adjust- ed gross income is $35,000. According to Table 1, the exemption amount is $12,000 or $6,000 x 2. If the same couple is also blind, the exemption is still $12,000. EXAMPLE: A married couple files jointly. The primary taxpayer is 65 and the spouse is 45 and blind. Their federal adjusted gross income is $28,000. According to Table 1, the exemption is $16,000 or $8,000 x 2. LINE 14. Exemption for New Mexico Medical Care Sav- ings Account If you or your spouse are enrolled in a New Mexico Medical Care Savings Account (NMMSA) established by an employer, and during 2023 you made or received contributions to the account or made or received distributions from the account, you may be entitled to claim a New Mexico medical care savings account exemption. An NMMSA is a tax-exempt trust or custodial account set up by a self-employed individual or a small employer who maintains a high-deductible individual or family health plan. The funds from the NMMSA are used to pay the employee’s unreimbursed medical care expenses. To qualify for the exemption, the qualified contributions or distributions must be included in your federal taxable income. When You Can Claim This Exemption If the following are included in your federal adjusted gross income, they are exempt from New Mexico income tax and reported on line 14: • Principal contributed to an NMMSA • Interest earned on an NMMSA • Money paid for eligible medical expenses from funds in an NMMSA • Money advanced to the employee by the employer for eligible medical expenses, according to the Medical Care Savings Account Act PIT-ADJ ADJ-5 www.tax.newmexico.gov

Do not include excess contributions, unqualified distributions, or money rolled over into another NMMSA. When You Cannot Claim This Exemption Generally, qualified contributions and earnings are excluded, exempted, or deducted from federal adjusted gross income and distributions paid for eligible medical expenses are ex- cluded, exempted, or deducted from federal taxable income. If your qualified contribution or distribution is excluded, ex- empted, or deducted from federal taxable income, you may not claim the exemption from New Mexico taxable income. LINE 15. Deduction for contributions to a New Mexico- approved Section 529 college savings plan The New Mexico Education Trust Fund is an account in one of the New Mexico-approved Section 529 college savings plans. You can deduct contributions you made to the fund during the tax year for each beneficiary. Contributions include the principal and earnings of amounts rolled over to a New Mexico- approved Section 529 college savings plan account from a non-New Mexico-approved Section 529 college savings plan. A taxpayer and spouse who file separate returns (filing status is married filing separately) may each claim one-half of the deduction allowed on a joint return. NOTE: You may only deduct contributions to a Section 529 plan established and approved by the New Mexico Education Trust Board. See Quick Guide 6, New Mexico Income Tax and Your Education Trust (529) Plan, on the Department’s website. LINE 16. Net capital gains deduction You may deduct all or part of your net capital gains reported and claimed on your federal tax return. You may deduct the greater of: • 100% of your net capital gains, not to exceed $1,000; or • 40% of your net capital gains. For purposes of this deduction, “net capital gains” are defined by Section 1222(11) of the Internal Revenue Code as the excess of net long-term capital gains over short-term capital losses for the tax year. “Net capital gains” do not include short-term capital gains.” A taxpayer and spouse who file separate returns (filing status is married filing separately) may each claim only one-half of the net capital gains deduction allowed on a joint return. IMPORTANT: You may not claim the net capital gains de- duction in addition to credit provided by the Venture Capital Investments Act. LINE 17. Active duty pay for United States armed forces. Armed forces includes the Army, Navy, Air Force, Marine Corps, and Coast Guard. “Active duty,” as defined in 37 USC 101, means full-time duty in active service. It includes the following: • Full-time training duty • Annual training duty • Full-time National Guard duty • Attendance, while in active service, at a school desig- nated as a service school by law or by the Secretary of the service If pay, wages, or salaries paid to you or your spouse for U.S. Armed Forces active duty service was included in your federal adjusted gross income on your PIT-1 return, line 9, enter the amount here. This exemption applies to residents and to non-residents of New Mexico. NOTE: If you received active duty pay from the U.S. Public Health Service (USPHS), do not enter the income on this line. See the instructions for line 22. Income Inside and Outside the State If you have income from inside and outside New Mexico, also see the instructions for 2023 Schedule PIT-B, lines 1 and 11. LINE 18. Medical care expense exemption for persons age 65 years or older If you or your spouse are 65 years of age or older, and you paid unreimbursed and uncompensated medical care ex- penses of $28,000 or more during tax year 2023, you may be eligible to claim an exemption of $3,000. If you meet the following qualifications and your expenses are allowed (see the next paragraph), enter $3,000 on line 18 to claim the exemption: • This exemption is for medical care expenses for the care of any combination of you, your spouse, or your dependents. • The exemption is allowed for out-of-state residents with an income tax responsibility to New Mexico. Types of Medical Expenses Allowed The types of medical expenses you may include are described in PIT-1 instructions for line 16, page 27, with one excep- tion. You may include unreimbursed and uncompensated medical care expenses included in the itemized deductions on federal Schedule A. The unreimbursed and uncompensated medical care ex- penses used to compute this exemption include all qualified expenses used to calculate the refundable medical care credit for persons 65 or older reported on Schedule PIT-RC, line 23. You may also include unreimbursed and uncompensated medical care expenses used to compute the medical care expense deduction claimed on PIT-1, line 16. Attach PIT-RC If you are eligible to claim this exemption, you are also eligible to claim the refundable medical care credit for persons 65 PIT-ADJ ADJ-6 www.tax.newmexico.gov

years or older reported on Schedule PIT-RC, line 23. This gives you an additional tax benefit. To claim that tax credit, complete and attach Schedule PIT-RC to your return. LINE 19. Deduction for organ donation-related expenses Enter any human organ donation-related expenses, including lost wages, lodging expenses, and travel expenses for you or your dependent, not to exceed $10,000. The expenses must have been incurred during the tax year by you or your dependent as a result of the donation of a human organ to another person. Definition of Human Organs “Human organs” means: all or part of a heart, liver, pancreas, kidney, intestine, lung, or bone marrow. A taxpayer and spouse who file separate returns (filing status is married filing separately) may each claim only one-half of the deduction (or exemption) allowed on a joint return. LINE 20. New Mexico National Guard member life insur- ance reimbursements tax exemption If you receive a reimbursement from the National Guard Service Member’s Life Insurance Reimbursement Fund, you may claim a personal income tax exemption in the amount of the reimbursement. The New Mexico Office of Military Affairs issues the reim- bursement and sends each recipient a Form 1099-MISC for the reimbursement. Attach Form 1099-MISC If you claim a New Mexico National Guard member life insur- ance reimbursements tax exemption, attach Form 1099-MISC to your return to support your exemption. LINE 21. Taxable refunds, credits, or offsets of state and local income taxes from federal Schedule 1, line 1. For tax years beginning on or after January 1, 2011, a deduc- tion is allowed for the amount you entered on the current year federal Schedule 1, line 1, for Taxable refunds, credits or offsets of state and local income taxes. To qualify, you must have itemized your deductions and included these refunds, credits, or offsets in adjusted gross income on a prior year federal Schedule A. You are required to report the taxable refunds credits or offsets of state and local income taxes on your 2023 federal Schedule 1. LINE 22. Non-resident U.S. Public Health Service mem- bers’ active duty pay Enter the amount of income earned in New Mexico for active duty in the USPHS only if you are a non-resident of New Mexico. If you changed residency or domicile to or from New Mexico during the tax year, enter only the pay you earned while you were a non-resident of New Mexico. This exemption applies only to non-residents of New Mexico. Income Inside and Outside the State If you have income from inside and outside New Mexico, also see the instructions for 2023 Schedule PIT-B, lines 1 and 11. The spouse who moves to New Mexico for the sole purpose of being with their spouse, who is on active duty with the U.S. Public Health Service, may be eligible to allocate and apportion their income from services performed to their state of domicile. In the instructions for PIT-B, see Income and Residency of Military Servicemember’s Spouse. LINE 23. Liquor license lessor deduction. Enter the amount of deduction from net income for which you qualify, not to exceed $50,000. To qualify, a taxpayer who is a liquor license lessor and who held the license on June 30, 2021 may claim a deduction from net income in an amount equal to the gross receipts from sales of alcoholic beverages made by each liquor license lessee in an amount, if the liquor license is a dispenser’s license and sales of alcoholic beverages for consumption off premises are less than fifty percent of total alcoholic beverage sales, not to exceed fifty thousand dollars ($50,000) for each of four taxable years prior to January 1, 2026. A taxpayer and spouse who file separate returns (filing status is married filing separately) may each claim only one-half of the deduction allowed on a joint return. Deduction amount not to exceed twenty-five thousand dollars ($25,000). A taxpayer with ownership interest in a business, taxed for federal income tax purposes as a partnership or limited liability company which meets the requirements of this deduction, may claim a portion of the credit not to exceed the amount allowed had the deduction been claimed by a sole owner. Combined deduction amount not to exceed fifty-thousand dollars ($50,000). Legislation Update: HB-163 (2022) enacted an exemption for armed forces retirement pay and an exemption for social security income. If you have armed forces retirement pay or social security income you may qualify for Line 24 or Line 25. LINE 24. Exemption for armed forces retirement pay. Enter the amount of deduction from net income for which you qualify, from the Table 2. Table 2. Armed Forces Retirement Tax Year Allowed Exemption per qualified individual 2022 $10,000 2023 $20,000 2024 $30,000 2025 $30,000 2026 $30,000 To qualify for this exemption, the taxpayer must be an armed forces retiree. Each qualifying armed forces retiree is entitled to claim an exemption in the above amount against their military retirement pay which is included in their net income. PIT-ADJ ADJ-7 www.tax.newmexico.gov

If you are married filing joint and both spouses qualify, each qualifying armed forces retiree is entitled to claim an exemp- tion in the above amount against their military retirement pay which is included in their net income. “Armed forces retiree” means a former member of the armed forces of the United States who has qualified by years of service or disability to separate from military service with lifetime benefits. LINE 25. Exemption for social security income. Enter the amount of social security income included in your Adjusted Gross Income (AGI) up to the AGI listed in Table 3 based on your filing status from PIT-1, line 7. Table 3. Social Security Income Filing Status AGI Single $100,000 Married Filing Separate $75,000 Married Filing Joint, Head of Household, and Surviving Spouse $150,000 Example 1. Taxpayer A is filing single and has an AGI of $99,500 which includes social security income of $80,000. The taxpayer is able to claim an exemption for the $80,000 since their AGI is not above $100,000. Example 2. Taxpayer B is filing single and has an AGI of $150,000 which includes social security income of $80,000 the taxpayer does not qualify for the social security exemp- tion because their AGI is over the $100,000 maximum for their filing status. LINE 26. Deduction for certain expenses related to a New Mexico licensed cannabis business Enter the amount equal to any expenditure that is eligible to be claimed as a federal income tax deduction but is disal- lowed by Section 280E of the Internal Revenue Code, as that section may be amended or renumbered. PIT-ADJ ADJ-8 www.tax.newmexico.gov

INSTRUCTIONS FOR 2023 PIT-RC NEW MEXICO REBATE AND CREDIT SCHEDULE General Information You can find general information about Form PIT‑RC, New Mexico Rebate and Credit Schedule, starting on this page. The instructions later in this document provide additional, specific eligibility requirements for each rebate and credit. Instructions are given for lines when additional guidance is helpful or if the item is unique to New Mexico. SECTIONS 1 TO 5 To claim any of the rebates or credits reported in Sections 2 to 5, you must answer the questions in Section 1. Basic Qualifications To claim any refundable rebates and credits in Sections 2 to 5, you must meet all these qualifications: • You must have been a resident of New Mexico during the tax year. • You must have been physically present in New Mexico for at least six months during the tax year (except to claim the child day care credit). • You were not eligible to be claimed as a dependent of another taxpayer for the tax year. • You were not an inmate of a public institution for more than six months of the tax year. Allowable Household Members and Extra Exemptions, Lines 1 to 3 To claim the Section 2, Low Income Comprehensive Tax Re‑ bate, you must calculate total allowable household members and extra exemptions. In Section 1, complete lines 1 to 3 to calculate the total so you can claim this rebate. NOTE: New Mexico uses the same definitions and qualifica‑ tions as the Internal Revenue Service (IRS) to determine if someone is your dependent. For dependent definitions and qualifications, see federal Form 1040 or 1040SR instructions. Modified Gross Income, Line 12 Eligibility for all rebates and credits in Sections 2 through 5 depends on Modified Gross Income, line 12. Modified gross income is different from federal adjusted gross income, federal taxable income, or New Mexico taxable income. For details, see What is Modified Gross Income? on page RC-4. SECTION 6 To claim the refundable tax credits in Section 6, you do not need to meet the basic qualifications for Sections 1 to 5. You also do not need to complete Section 1. For details about Section 4, see page RC-10, and the instructions for lines 23 and 24 later in this document. SECTION 7 All claimants must complete line 25. PREPARING YOUR SCHEDULE PIT-RC Follow these steps to prepare and complete Schedule PIT- RC: 1. Prepare your federal return. Even if you are not required to file a federal return, it is easier to complete the PIT- RC after you fill out a sample federal return. 2. In the PIT-1 instructions, read page 20, What To Do Next. 3. Refer to the table on the next page to find the informa‑ tion you need to support the rebates and credits you can claim. 4. Complete PIT-RC by using the instructions starting on page RC-3. 5. Check these entries on your PIT‑RC: • Make sure your arithmetic is correct. • When required, make sure you limited your calcula‑ tions to the maximum amount allowed for the rebate or credit. • On pages 1 and 2, make sure your name and social security number are correct. • If you are claiming one or more rebates and credits in Sections 2 to 5, make sure Section 1 is complete and that you answered all required questions. • If you claim the additional low income property tax rebate for Los Alamos County, Santa Fe County, or Modified Gross Income Limitations for 2023 If your modified gross income is: You may qualify for:

$36,000 or less Low Income Comprehensive Tax Rebate (Section 2)

$16,000 or less Property Tax Rebate, if you are 65 or older (Section 3)

$30,160 or less New Mexico Child Day Care Credit (Section 5) Los Alamos County, Santa Fe County, or Doña Ana County Residents Only $24,000 or less Low Income Property Tax Rebate for Los Alamos County, Santa Fe County, or Doña Ana County Residents (Section 4) Refundable Tax Credits in Section 4 • Refundable medical care credit for persons age 65 or older • Special needs adopted child tax credit PIT-RC RC-1 www.tax.newmexico.gov

Doña Ana County residents in Section 4, make sure you mark the box indicating the county where you reside. 6. Transfer the amount on line 26 to your PIT-1, line 24. Make sure you copy the amount correctly. 7. Submit the PIT-RC and other required documents with your PIT-1. TOP OF PAGE 1 Enter the primary taxpayer’s name and social security num‑ ber exactly as they appear on your PIT-1 return. If you are claiming rebates and credits under Sections 2 to 5, complete all of Section 1 to avoid denial of the rebate or credit. If you are only claiming refundable tax credits in Section 6, skip Sections 1 to 5. SECTION 1 Qualifications for Credits and Rebates Reported in Sections 2 to 5 If statement A, B, C, or D is true for you, mark the TAX- PAYER box(es). If you are married filing jointly, mark the true statements in the SPOUSE box(es). If you are not married, leave those boxes blank. If a statement is false, leave the box blank. Statement A. If you were a resident of New Mexico during any part of the tax year, mark the box. If married filing jointly and if both spouses were residents of New Mexico during the tax year, mark both boxes. Statement B. If you were physically present in New Mexico for at least six months during 2023, mark the box. If married filing jointly and if both spouses were physically present in New Mexico for at least six months during 2023, mark both boxes. Statement C. If you were not a dependent, or if you do not qualify as a dependent of another person for federal income tax purposes, mark the box. If you are married filing jointly and if both spouses were not eligible to be claimed as a dependent of another taxpayer for income tax purposes in 2023, mark both boxes. If you were a dependent of another taxpayer, you do not qualify: • For any rebates • For the child day care credit • As a household member, for purposes of rebates or cred‑ its Whether or not you were actually claimed as a dependent on If you received any of the following in 2023 You need Salary or wages All 2023 wage and tax statements An annuity, pension, retirement pay, IRA distributions, Railroad Retirement or sick pay, or social security benefits Federal Form(s) 1099-R, RRB-1099, and SSA-1099 Gambling or lottery winnings Records of the amounts and, if issued to you, Form W-2G Public assistance from Temporary Assistance to Needy Families (TANF), New Mexico Works Act or similar program, welfare benefits, or Supplemental Security Income (SSI) Records of the amounts you received Any other income—whether or not taxable—such as an insurance settlement, a scholarship or grant, VA benefits, income from an inheritance or trust, gifts of cash or market‑ able property, alimony, or child support Records of the amounts you received To claim the following rebates and credits You need Low Income Property Tax Rebate for Los Alamos County, Santa Fe County, or Doña Ana County Residents Records of property tax billed for 2023 on your principal place of residence in Los Alamos County, Santa Fe County, or Doña Ana County. Property Tax Rebate For Persons 65 or Older Records of the property tax billed for 2023 or rent paid on your principal place of residence. New Mexico Child Day Care Credit Child Day Care Credit Worksheet and Form PIT-CG, New Mexico Caregiver’s Statement, from each person who pro‑ vided child day care during 2023. Refundable Medical Care Credit for Persons 65 or Older Receipts and records of your qualifying expenses. See in‑ structions for line 23. Special Needs Adopted Child Tax Credit for a qualifying adopted child during the first year of your claim Copy of certificate issued by Children, Youth, and Families Department or the licensed child placement agency for each child you adopted that year. See instructions for line 24. PIT-RC RC-2 www.tax.newmexico.gov

another person’s federal return, you qualify as a dependent. If you are a dependent with a spouse who was not a de‑ pendent of another taxpayer, your spouse may still qualify to claim rebates or credits. Statement D. If you were not an inmate of a public institution for more than six months in 2023, mark the box. If married filing jointly and if both spouses were not inmates of a public institution for more than six months in 2023, mark both boxes. If you were an inmate of a public institution for more than six months, you do not qualify for rebates or credits, and you do not qualify as a household member for purposes of rebates or credits. If you were an inmate and your spouse was not an inmate, your spouse may still qualify to claim rebates or credits. LINES 1 TO 3 Calculate Allowable Household Members and Extra Exemptions Use lines 1 to 3 to calculate household members and extra exemptions for Section 2 so that you can claim the low in‑ come comprehensive tax rebate. LINE 1. Number of Exemptions Enter the number of exemptions from PIT-1, line 5. This includes you, your spouse if filing a joint return, your quali‑ fying dependents, and your qualifying other dependents as reported on your federal return. LINES 2 and 3 Allowable Household Members and Extra Exemptions for Purposes of Claiming Low Income Comprehensive Tax Rebates LINE 2a. Enter the number of household members who DO NOT qualify. If all household members qualify, leave this field blank. Household members who do not qualify: You or your spouse must meet the general qualifications listed below, or all members of your household do not qualify. You or your spouse must: • be a resident of New Mexico during the tax year; • be physically present in New Mexico for at least six months during 2023; • be neither eligible to be claimed, nor actually claimed, as a dependent of another taxpayer for 2023, and; • not be an inmate of a public institution for more than six months during 2023. If either you or your spouse meet the general qualifications, but not both, then the non-qualifying spouse is not eligible. Dependents who are non-residents of New Mexico DO NOT qualify as a household member for purposes of claim‑ ing the Low Income Comprehensive Tax Rebate. Include nonresident dependents on line 2a of Schedule PIT-RC. Dependents who are residents of New Mexico, but are not physically present in New Mexico for six months, qualify as household members for purposes of claiming the Low- Income Comprehensive Tax Rebate. Example 1. A married couple filing a joint return reports six exemptions (which includes their four children) on PIT-RC, line 1. One spouse lived out of state for seven months of the tax year, and the other spouse lived in New Mexico with their four children. Because the out-of-state spouse was not physically present in New Mexico for at least six months, the couple makes these entries: • Line 1 is 6. • Line 2a is 1. The allowable household members on line 2b is 6 - 1 = 5. These 5 exemptions are for the spouse who lives in New Mexico with the couple’s four children. Five household members are allowed when claiming the low income com‑ prehensive tax rebate.

If both taxpayers lived out of state for seven months, no household members qualify for the rebate as shown with these entries: • Line 1 is 6. • Line 2a is 6. • Line 2b is 0. The allowable household members on line 2b is 6 - 6 = 0. Example 2. The taxpayer qualifies for tax rebates, but has a dependent who is out of state temporarily to attend school. The dependent is still a resident of New Mexico. Although the dependent may be out of state for most of the year, the taxpayer may claim a rebate counting that dependent as a household member. Example 3. If a citizen of another country is a resident of New Mexico, that person may claim the tax rebates. If the citizen’s spouse, children, or other dependents are not residents of New Mexico, the citizen cannot claim a rebate based on exemptions for them. LINE 2c. If you or your spouse (if filing a joint return), but not both, are blind as defined for federal income tax purposes, enter 1. If you and your spouse are blind as defined for federal in‑ come tax purposes, enter 2. LINES 2e and 2f. Additional special exemptions are avail‑ able if you or your spouse (if filing a joint return) are age 65 or older on the last day of the tax year. Enter 2 on the lines that apply. LINE 2h. If you and your spouse are filing separately, you must subtract the number of household members and extra exemptions your spouse claimed on the spouse’s Schedule PIT-RC, line 2g. LINES 3. Combine the total of lines 2g and 2h and enter the amount on line 3. PIT-RC RC-3 www.tax.newmexico.gov

*230180100* 9. FEDERAL ADJUSTED GROSS INCOME. (from federal Form 1040 or 1040SR, line 11)..................................... 9 10. If you itemized your federal deduction amount, enter the amount of state and local tax deduction claimed on federal Form 1040, Schedule A, line 5a. See the worksheet in the instructions...................................................... + 10 11. Total Additions to federal adjusted gross income (PIT-ADJ, line 6). Attach PIT-ADJ............................................. + 11 12. Federal standard or itemized deduction amount (from federal Form 1040, line 12)............................................... - 12 12a. If you itemized, mark the box..................................................................................................... 12a 13. Deduction for certain dependents. See the worksheet in the instructions............................................................... - 13 14. New Mexico low- and middle-income tax exemption. See PIT-1 instructions.......................................................... - 14 15. Total Deductions and Exemptions from federal income (PIT-ADJ, line 27). Attach PIT-ADJ................................. - 15 16. Medical care expense deduction. See PIT-1 instructions........................................................................................ - 16 You must complete both lines 16 and 16a or the deduction will be denied. 16a. Unreimbursed and uncompensated medical care expenses............. 16a 17. NEW MEXICO TAXABLE INCOME. Add lines 9, 10 and 11, then subtract lines 12, 13, 14, 15 and 16................ Cannot be less than zero = 17 18. New Mexico tax on amount on line 17 or from PIT-B, line 14................................................................................. 18 18a. From Tax Rate Table = R. From PIT-B, line 14 = B..................................................................... 18a 19. Additional amount for tax on lump-sum distributions. See PIT-1 instructions.......................................................... + 19 20. Credit for taxes paid to another state. You must have been a New Mexico resident during all or part of the year. Include a copy of other state's return. See PIT-1 instructions................................................... - 20 21. Business-related income tax credits applied, from Schedule PIT-CR, line A. Attach PIT-CR.................................. - 21 22. NET NEW MEXICO INCOME TAX. Add lines 18 and 19, then subtract lines 20 and 21. Cannot be less than zero.................................................................................................................................................................. = 22 Electronic filers: If you file your New Mexico Personal Income Tax return online and also pay tax due online, your due date is April 30, 2024. All others must file by April 15, 2024. See PIT-1 instructions for details. Continue on the next page. 2023 PIT-1 NEW MEXICO PERSONAL INCOME TAX RETURN If amending use Form 2023 PIT-X.

Column 1 First name Last name

Column 2 Dependent's SSN Column 3 Date of birth (MM/DD/CCYY) 8. DEPENDENTS AND OTHER DEPENDENTS. As listed on your federal return. (You must report the first 5 dependents and other dependents in this table. Use Schedule PIT-S for additional entries.) 7. FILING STATUS. Mark only one box. (4a) (3) Married filing separately (Enter spouse's name and social security number in 2a and 2b.) (4) Head of household (Enter name of person qualifying you as head of household if that person is not counted as a qualified dependent on your federal return.) (5) Surviving Spouse with dependent child EXEMPTIONS: Taxpayer, spouse, dependents, and other dependents reported on federal Form 1040. If you are a dependent or other dependent of another taxpayer, enter 00. (See instructions) 5. SOCIAL SECURITY NUMBER Print your name (first, middle, last) Age 65 Blind or over 1a 2a Print your spouse's name (first, middle, last). If married filing separately, include spouse. 1b 2b 2e 1e 2d 1d 2c 1c 4d 4c Residency status R if Resident N if Non-Resident F if First-Year Resident P if Part-Year Resident Residency status: For taxpayer and spouse (1e and 2e), enter: SSN 4. Name If the address is new or changed, mark this box. Mailing Address (Number and street) City State Postal/ZIP Code 3a 3b 6a 6b For the year January 1 - December 31, 2023 or fiscal year beginning ending F.2 F.1 (1) Single (2) Married filing jointly Taxpayer's date of birth 2f 1f Spouse's date of birth EXTENSION OF TIME TO FILE: If you have a federal or state extension, mark box 6a and enter the extension date in box 6b. 4a 4b Taxpayer's date of death Spouse's date of death If a deceased taxpayer's refund must be made payable to a person other than the taxpayer or spouse named on this return, enter below the name and social security number of that person. You must also attach Form RPD-41083. If taxpayer or spouse died before this return is filed, enter date of death. If foreign address, enter country Foreign province and/or state 3c 3d FOR DEPARTMENT USE ONLY Get your refund faster, file online using Taxpayer Access Point TAP https://tap.state.nm.us.

*230190100* Do not submit a photocopy of this form to the Department. Submit only original forms and keep a copy for your records. If submitting this return by mail, send to: New Mexico Taxation and Revenue Department, P. O. Box 25122, Santa Fe, New Mexico 87504-5122 23. The amount on line 22 from page 1........................................................................................................................ 23 24. Total claimed on rebate and credit schedule (PIT-RC, line 26 ). Attach PIT-RC................................................... 24 25. Working families tax credit. (You must complete lines 25, 25a, and 25b* or the deduction will be denied.)........... + 25 25a. The amount of federal earned income credit (EIC) reported on your 2023 federal income tax return or calculated under NM Expansion..... 25a 25b. *NM Expansion Only: Check this box if you did not qualify for the EIC on your federal return.. 25b 26. Refundable business-related income tax credits from Schedule PIT-CR, line B. Attach PIT-CR.......................... + 26 27. New Mexico income tax withheld. Attach annual statements of income and withholding................................ + 27 28. New Mexico income tax withheld from oil and gas proceeds. Attach 1099-Misc or RPD-41285.......................... + 28 29. New Mexico income tax withheld from or paid by a pass-through entity. Attach 1099-Misc or RPD-41359......... + 29 30. 2023 estimated income tax payments. See PIT-1 instructions................................................................................ + 30 31. Other Payments....................................................................................................................................................... + 31 32. TOTAL PAYMENTS AND CREDITS. Add lines 24 through 31............................................................................... = 32 33. TAX DUE. If line 22 is greater than line 32, enter the difference here................................................................... 33 34. Penalty on underpayment of estimated tax. See PIT-1 instructions ....................................................................... + 34 35. Special method allowed for calculation of underpayment of estimated tax penalty. If you owe penalty on underpayment of estimated tax and you qualify, enter 1, 2, 3, 4, or 5 in the box. Attach RPD-41272.................... 35 36. Penalty. See PIT-1 instructions. ............................................................................................................................. + 36 37. Interest. See PIT-1 instructions. ............................................................................................................................. + 37 38. TAX, PENALTY, AND INTEREST DUE. Add lines 33, 34, 36, and 37.................................................................... = 38 39. OVERPAYMENT. If line 23 is less than line 32, enter the difference here............................................................. 39 40. Refund voluntary contributions (PIT-D, line 18). Attach PIT-D................................................................................. - 40 41. Amount from line 39 you want applied to your 2024 Estimated Tax.................................................................. - 41 42. AMOUNT TO BE REFUNDED TO YOU. Line 39 minus lines 40 and 41............................................................... = 42 Refund Express!! Have it directly deposited! See instructions and complete all questions in this block. RE. 1 Routing Number RE. 2 Account Number RE.3 Account Type: Checking Savings Re. 4: Will this refund go to or through an account outside of the United States? Important: If "yes," you can not use this refund method. See instructions. Yes No Check this box if you would like to see if you and the members of your household qualify for medical insurance through the Human Services Department (HSD) or Health Insurance Exchange (NMHIE). Important: Checking this box gives the Taxation and Revenue Department per- mission to share information provided on the PIT-1 and PIT-S with HSD and NMHIE. See instructions for additional information. HSD. 1 I declare I have examined this return, including accompanying schedules and state- ments, and to the best of my knowledge and belief it is true, correct, and complete. Paid preparer's use only: Your signature Date Signature of preparer Date Driver's License, State ID No. or enter "NONE" or "DECLINED" State Expiration Date P.1 Firm's name (or yours, if self-employed) Spouse's signature Date P.2 NMBTIN P.3 Preparer's PTIN Spouse's Driver's License, State ID No. or enter "NONE" or "DECLINED" State Expiration Date P.4 FEIN P.5 Preparer's phone number (If filing jointly, BOTH must sign even if only one had income.) Mark this box if Form RPD-41338 is on file for this tax- payer. See PIT-1 instructions. Taxpayer's phone number P.6 Taxpayer's email address 2023 PIT-1 (page 2) NEW MEXICO PERSONAL INCOME TAX RETURN YOUR SOCIAL SECURITY NUMBER

*230260100* 16. 7. 6. 9. 10. 11. 12. 13. 14. 15. 8. 17. 18. 19. 20.

First name Last name Date of birth (MM/DD/CCYY) Dependent's/Other Dependent's social security number Line 8. DEPENDENTS AND OTHER DEPENDENTS (continued from Form 2023 PIT-1) Enter each dependent's and other dependent's name as listed on your federal form. 2023 PIT-S Use Schedule PIT-S ONLY if you have more than five federal qualifying dependents and other dependents. Enter on 2023 Form PIT-1, line 8, the name, social security number (SSN), and date of birth of your first five qualifying dependents and other dependents. For the remaining qualifying dependents and other dependents, enter the name, SSN, and date of birth on 2023 Schedule PIT-S. Attach this Schedule PIT-S to your 2023 Form PIT-1. Enter only the qualifying dependents and other dependents who are allowed on your federal return. Do not include yourself or, if filing a joint return, your spouse. New Mexico uses the same definitions and qualifications as the Internal Revenue Service (IRS) to determine if someone is a qualified dependent or other dependent. To make this determination, see the instructions for federal Form 1040 or 1040SR or visit the IRS website at www.irs.gov. NEW MEXICO SUPPLEMENTAL SCHEDULE FOR DEPENDENTS AND OTHER DEPENDENTS IN EXCESS OF FIVE If you need additional space, attach multiple Schedules PIT-S. You must attach Schedule PIT-S to Form PIT-1 or the Department will deny your additional exemptions. YOUR SOCIAL SECURITY NUMBER

Column 1 Column 2 Column 3 Print your name (first, middle, last)

*230280100* Attach this Schedule PIT-ADJ to your Personal Income Tax Return, Form PIT-1. 2023 PIT-ADJ NEW MEXICO SCHEDULE OF ADDITIONS, DEDUCTIONS, AND EXEMPTIONS Taxpayers who are required to make certain additions or who are eligible to take certain deductions or exemptions from federal adjusted gross income to compute New Mexico taxable income must complete this schedule. Please refer to the instructions when completing this schedule. Print your name (first, middle, last) YOUR SOCIAL SECURITY NUMBER We cannot accept statements instead of this schedule. NEW MEXICO ADDITIONS TO FEDERAL ADJUSTED GROSS INCOME 1. Interest and dividends from federal tax-exempt bonds........................................................................................... 1. 2. Federal net operating loss carryover. See PIT-ADJ instructions............................................................................. 2. 3. Contributions refunded when closing a New Mexico-approved Section 529 college savings plan account and certain contributions rolled out of a New Mexico-approved Section 529 college savings plan account................ 3. 4. Charitable deduction amount claimed on federal Schedule A, Line 12, for a donation of land to private non-profit or public conservation agencies, for conservation purposes, from which you were allowed the New Mexico Land Conservation Tax Credit.......................................................................................................................................... 4. 5. Amount of tax paid by a Pass-Through-Entity on distributed net income............................................................... 5. 6. TOTAL ADDITIONS. Add lines 1 through 5. Also enter on Form PIT-1, line 11.................................................. 6. NEW MEXICO DEDUCTIONS AND EXEMPTIONS FROM FEDERAL ADJUSTED GROSS INCOME 7. New Mexico tax-exempt interest and dividends...................................................................................................... 7. 8. New Mexico net operating loss. See PIT-ADJ instructions. Attach Form RPD-41369.......................................... 8. 9. Interest received on U.S. Government obligations.................................................................................................. 9. 10. Taxable Railroad Retirement Act annuities and benefits, and taxable Railroad Unemployment Insurance Act sick pay. Attach Forms RRB-1099 and RRB-1099-R..................................................................................... 10. 11. Income of a member of a New Mexico federally recognized Indian nation, tribe, or pueblo that was earned within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as "Indian country" of which the individual is an enrolled member while domiciled within the boundaries of the reservation or pueblo grant or within the boundaries of land defined as "Indian country".. 11. 11a. I am enrolled as a member of the New Mexico federally recognized Indian nation, tribe, or pueblo. 11a. 11b. My spouse is enrolled as a member of the New Mexico federally recognized Indian nation, tribe, or pueblo. 11b. 12. Income of persons age 100 years or older. If you or your spouse is age 100 or older, you must mark the boxes to claim your exemption. 12a. 100 or older q 12b. Spouse 100 or older q 12. 13. Exemption for persons age 65 or older, or blind..................................................................................................... 13. 14. Exemption for New Mexico medical care savings account. See PIT-ADJ instructions........................................ 14. 15. Deduction for contributions to a New Mexico-approved Section 529 college savings plan.................................... 15. 16. Net capital gains deduction. See PIT-ADJ instructions........................................................................................ 16. 17. Active duty pay for United States armed forces. See PIT-ADJ instructions......................................................... 17. 18. Medical care expense exemption for persons age 65 years or older...................................................................... 18. 19. Deduction for organ donation-related expenses..................................................................................................... 19. 20. New Mexico National Guard member life insurance reimbursements tax exemption............................................ 20. 21. Taxable refunds, credits, or offsets of state and local income taxes from federal Form 1040, Schedule 1............ 21. 22. Non-resident U.S. Public Health Service members' active duty pay....................................................................... 22. 23. Liquor license lessor deduction. See PIT-ADJ Instructions.................................................................................. 23. 24. Exemption for armed forces retirement pay. See PIT-ADJ Instructions. ............................................................. 24. 25. Exemption for social security income. See PIT-ADJ Instructions. ....................................................................... 25. 26. Deduction for certain expenses related to a New Mexico licensed cannabis business........................................... 26. 27. TOTAL DEDUCTIONS AND EXEMPTIONS. Add lines 7 through 26. Enter here and on Form PIT-1, line 15... 27.

*230380100* SECTION 1: QUALIFICATIONS FOR REBATES AND CREDITS REPORTED IN SECTIONS 2 TO 5. Complete Section 1 to claim the following rebates and credits in Sections 2 through 5. IMPORTANT: To claim any refundable tax credits in Section 6, you do not need to complete Section 1. Persons with Modified Gross Income of: $36,000 or less may qualify for the low income comprehensive tax rebate (Section 2) $16,000 or less who are age 65 or older may qualify for the property tax rebate (Section 3) $24,000 or less who live in Los Alamos County, Santa Fe County, or Doña Ana County ONLY may qualify for additional low income property tax rebate (Section 4) $30,160 or less may qualify for the New Mexico child day care credit (Section 5) FOR COMPLETE ELIGIBILITY REQUIREMENTS, READ REBATE AND CREDIT SCHEDULE INSTRUCTIONS Qualifications for Credits and Rebates Reported in Sections 2 to 5. You and your spouse, if applicable, must mark the box to indicate whether the statement is true. If the statement is not true, leave the box blank. If you are not married, leave the boxes in the spouse column blank. TAXPAYER SPOUSE A. I was a resident of New Mexico during any part of the tax year................................................................. TRUE .................... TRUE B. In 2023, I was physically present in New Mexico for at least six months..................................................... TRUE .................... TRUE C. In 2023, I was NOT eligible to be claimed as a dependent of another taxpayer for income tax purposes.. TRUE .................... TRUE D. In 2023, I was NOT an inmate of a public institution for a period of more than six months......................... TRUE .................... TRUE 1. Number of exemptions from Form PIT-1, line 5................................................................................................................................. 1 2. a. Enter number of household members who DO NOT qualify. If all exemptions qualify, leave blank.............................................. See PIT-RC instructions - 2a b. Subtract 2a from 1. Number of allowable household members.................................................................................................... = 2b c. Extra Exemption: Enter 1 if you or your spouse (if married filing jointly) are blind for federal income tax purposes. Enter 2 if you and your spouse (if married filing jointly) are blind.................................................................................................. + 2c d. Add lines 2b and 2c...................................................................................................................................................................... = 2d e. If you are 65 or older, enter 2........................................................................................................................................................ + 2e f. If married filing jointly and your spouse is 65 or older, enter 2....................................................................................................... + 2f g. Add lines 2d, 2e, and 2f................................................................................................................................................................ = 2g h. If you checked filing status (3) married filing separately on your Form PIT-1, enter the number of exemptions, if any, your spouse claimed on line 2g of your spouse's PIT-RC................................................................................................... + 2h 3. Total. Add lines 2g and 2h. Enter here and on line 13a on page 2 of this form................................................................................ = 3 CALCULATE MODIFIED GROSS INCOME. Modified gross income, generally, is all income of the taxpayer and household members, both taxable and nontaxable, and undiminished by losses. See instructions for types of income you do not need to include in modified gross income. NOTE: If married filing separately, be sure to include your spouse's income. 4. Wages, salaries, tips, etc....................................................................................................................................................... 4 5. Social security benefits, pensions, annuities, and Railroad Retirement................................................................................. + 5 6. Unemployment and workers' compensation benefits.............................................................................................................. + 6 7. Public assistance, TANF and Supplemental Security Income (SSI)...................................................................................... + 7 8. Net profit from business, farm, or rentals. If a loss, enter zero, DO NOT enter a negative number.................................. + 8 9. Capital gains undiminished by capital losses.......................................................................................................................... + 9 10. Gifts of cash or marketable tangible items received. (You must give the items a reasonable value.).................................... + 10 11. All other income such as interest, dividends, gambling winnings, insurance settlements, scholarships, grants, VA benefits, trust income and inheritance, alimony, and child support....................................................................... + 11 12. Modified Gross Income. Add lines 4 through 11. Enter the total on line 12 and on line 13 of page 2. (Total must equal or exceed Federal Adjusted Gross Income from Form PIT-1, line 9)................................................ + 12 2023 PIT-RC NEW MEXICO REBATE AND CREDIT SCHEDULE Print your name (first, middle, last) This schedule may be used by individuals who qualify for one or more refundable rebates and credits offered by New Mexico. Include Schedule PIT-RC with your personal income tax return, Form PIT-1. YOUR SOCIAL SECURITY NUMBER

*230390100* _ _ SECTION 2: LOW INCOME COMPREHENSIVE TAX REBATE(If line 13 is MORE than $36,000, DO NOT complete line 14.) 13. Enter Modified Gross Income from line 12............................................................................................................................. 13 a. Enter Total Exemptions from line 3..................................................................................................................................... 13a 14. Low income comprehensive tax rebate. On Table 1 in the instructions, find the Modified Gross Income range that includes the amount on line 13, then move across to the column that matches the number of exemptions online 13a. Married couples filing separately must divide the result by two 14 SECTION 3: PROPERTY TAX REBATE FOR PERSONS 65 OR OLDER. (If line 13 is more than $16,000, DO NOT complete this section.) 15. PROPERTY OWNED. Tax billed for the calendar year on principal place of residence........................................................ 15 16. PROPERTY RENTED a. Amount of rent paid during the tax year for principal place of residence 16a b. If the amount entered on line 16a includes rent a government entity paid on your behalf, mark here................ 16b c. Multiply line 16a by 0.06 and enter the amount here........................................................................................................ 16c 17. REBATE AMOUNT a. Add lines 15 and 16c and then enter the total here........................................................................................................... 17a b. Find the Modified Gross Income range, on Table 2 in the instructions, that corresponds to the amount on line 13. Read across the table to the Column showing your maximum property tax liability and enter the amount here............... 17b c. Property tax rebate. Subtract line 17b from 17a. Do not enter more than $250, or if married filing separately, more than $125 .................................................................. 17c SECTION 4: ADDITIONAL LOW INCOME PROPERTY TAX REBATE for Los Alamos, Santa Fe County, or Doña Ana County residents only. (If line 13 is over $24,000, DO NOT complete this section.) You must indicate the county. 18 LA Los Alamos County 18 SF Santa Fe County 18. REBATE AMOUNT 18 DA Doña Ana County a. PROPERTY OWNED only. Tax billed for the calendar year on principal place of residence............................................. 18a b. Find the Modified Gross Income range, on Table 3 in the instructions, that corresponds to the amount on line 13. Read across the table to the Column showing your property tax rebate percentage and enter here............................... 18b % c. Multiply line 18a by line 18b and enter here. Do not enter more than $350, or if married filing separately, more than $175................................................................... 18c SECTION 5: NEW MEXICO CHILD DAY CARE CREDIT. If Modified Gross Income on line 13 is $30,160 or less, use the worksheet in the instructions to calculate your available child day care credit. Attach the worksheet and Forms PIT-CG. 19. Enter either the total of Column G on the worksheet or $1,200, WHICHEVER IS LESS...................................................... 19 20. Number of qualified dependents under age 15 receiving child day care............................................................................... 20 21. Enter the portion of the federal child care credit applied against your federal tax from federal Schedule 3, line 2............... 21 22. New Mexico child day care credit. Subtract line 21 from line 19. Married couples filing separately must divide the result by two............................................................................................. 22 SECTION 6: REFUNDABLE TAX CREDITS. 23. Refundable medical care credit for persons 65 or older. See PIT-RC instructions.................................................. 23 24. Special needs adopted child tax credit..................................................................................................................... 24 25. Child Income Tax Credit .......................................................................................................................................... 25 SECTION 7: TOTAL REBATES AND CREDITS CLAIMED 26. Add lines 14, 17c, 18c, 22, 23, 24, and 25. Enter here and on Form PIT-1, line 24......................................... 26 2023 PIT-RC (page 2) YOUR SOCIAL SECURITY NUMBER NEW MEXICO REBATE AND CREDIT SCHEDULE

*230580100* _ _ _ . _ _ _ _ SECTION 1: ALLOCATION OF NONBUSINESS INCOME 1. Wages, salaries, tips, etc. If non-resident military .personnel, see PIT-B instructions. ..........

2. Nonbusiness interest and dividends. Include difference from Schedule PIT-ADJ, line 1 minus line 6. ............................................................................................................... 3. Pensions, annuities, social security, and lump-sum .distributions ......................................... 4. Rents and royalties................................................................................................................ 5. Gains or losses from the sale or exchange of property ........................................................ 6. Income or losses from pass-through entities......................................................................... 7. All other income not included in lines 1 through 6 and line 8 ................................................ SECTION 2: APPORTIONMENT OF BUSINESS AND FARM INCOME (For line 8. If none, go to line 9.) 8. Business and farm income. To determine the amount .for Column 2, complete

worksheet PIT-B, page 2. See the instructions...................................................................... 9. ADD lines 1 through 8 and enter the amount here................................................................ 10. Federal adjustments to income. In Column 1, enter the figure from federal Schedule 1, line 22. For Column 2, see the PIT-B instructions................................................................ 11. Total income. Line 9 minus line 10. Column 1 must be equal to or

greater than Federal Adjusted Gross Income (Form PIT-1, line 9) .................................

If non-resident military personnel, see the PIT-B instructions. 6 12. DIVIDE the amount on line 11, Column 2 by the amount on line 11, Column 1, showing 4 decimal places.

(Cannot be less than zero. If greater than 1, enter 100.0000.)............................................................................................ 13. Using the tax rate tables, find the tax applicable to PIT-1, line 17. If an amount for tax on lump-sum

distributions .is shown on PIT-1, line 19, add it to the tax and enter the result here......................................................... 14. MULTIPLY line 12 by line 13. Enter the amount here and on PIT-1, line 18, and then in the box on PIT-1, line 18a,

mark B to indicate the tax came from PIT-B.................................................................................................................... Taxpayers who allocate and apportion income from both inside and outside the State of New Mexico must complete this schedule. Please refer to the instructions when completing this schedule. Include the Schedule PIT-B with your personal income tax return, Form PIT-1. NEW MEXICO ALLOCATION AND APPORTIONMENT OF INCOME SCHEDULE 2023 PIT-B NOTE: Resident taxpayers including persons physically present in New Mexico 185 days or more, must allocate all income and deductions on lines 1, 2, 3, and 7 in full to New Mexico. Column 2 New Mexico Income Column 1 Total Federal Income Print your name (first, middle, last) YOUR SOCIAL SECURITY NUMBER For first-year and part-year resident taxpayers, enter the period of residency. If your spouse's residency period is different, enter the period of residency for your spouse. If additional periods of residency apply, write them in the space below this line. A. From B. through If the taxpayer or spouse is a military servicemember's spouse qualifying for relief under the Military Spouse Residency Relief Act, is not a resident of New Mexico, and is allocating income from services performed in New Mexico to their state of residence, mark the appropriate box. Taxpayer Spouse 13 14 12 C. From D. through E. F. 1a. If you used Form PIT-110 to calculate line 1, Column 2, mark this box.................. 1a 1 2 3 4 5 7 8 9 10 11 %

*230590100* _ _ _ . _ _ _ _ _ _ _ . _ _ _ _ _ _ _ . _ _ _ _ _ _ _ . _ _ _ _ _ _ _ . _ _ _ _ Have you changed your reporting of any class or type of allocated or apportioned income from the way it was reported in a prior taxable year? Yes No This entity submitted written notification of its election to use one of the special methods of apportionment of business

income for tax year ending _______________. The effective date of the election is ______________. See instructions. Mark the box indicating the special method elected. Manufacturers Headquarters Operation K. Month/Day/Year Month/Day/Year J. WORKSHEET FOR APPORTIONMENT OF BUSINESS AND FARM INCOME Complete a worksheet for each business or farm. See worksheet instructions for definitions relating to the apportionment factors below. 2023 PIT-B (page 2) NEW MEXICO ALLOCATION AND APPORTIONMENT OF INCOME SCHEDULE 1. PROPERTY FACTOR

a. Average value of real and tangible .personal property

owned or rented by .the taxpayer and used during the

tax period............................................................................

b. DIVIDE Column 2 by Column 1, showing 4 decimal places........................................................................................... 2. PAYROLL FACTOR

a. Compensation paid by taxpayer........................................

b. DIVIDE Column 2 by Column 1, showing 4 decimal places........................................................................................... 3. SALES FACTOR

a. Total sales, excluding non-business income......................

b. DIVIDE Column 2 by Column 1, showing 4 decimal places........................................................................................... 4. Total of lines 1b, 2b, and 3b....................................................................................................................................................

a. Count of factors.................................................................... 5. DIVIDE line 4 by the number of factors entered in line 4a, showing 4 decimal places........................................................... Column 1 Total Everywhere Column 2 New Mexico Column 3 Factor YOUR SOCIAL SECURITY NUMBER MULTIPLY the line 8, Column 1 amount on PIT-B, page 1 by the decimal amount on line 5 of this worksheet. Enter the result on PIT-B, page 1, line 8, Column 2. If you have more than one business or farm, complete a worksheet for each business or farm, calculate the result for each busi- ness or farm, and enter the sum of the results on PIT-B, line 8, Column 2. Attach a worksheet for each business or farm to your PIT-1 and PIT-B. 4 1a 2a 3a BUSINESS NAME BUSINESS TAX IDENTIFICATION NUMBER FEIN NMBTIN G. H. I. 1b 2b 3b % % % % 5 % 4a

*230480100* 2023 PIT-D Use this Schedule PIT-D to contribute any of your tax refund to any of New Mexico’s voluntary contribution funds. Total fund contributions may not exceed the amount on Form PIT-1, line 39. If you are not due a refund but want to contribute to any of the funds, do not mail your contributions to the New Mexico Taxation and Revenue Department. Send your contribution directly to the addresses listed in the instructions for Schedule PIT-D. Please consider your contribution to any of the funds carefully because, if you change your mind or amend your return, no part of your contribution is refundable. The Department will deduct your contribution from your refund and transfer your contributions to the appropriate funds. If the contributions exceed the refund due, no contributions will be made or deducted from your refund. For more information about these contributions, see the instructions for Schedule PIT-D. NEW MEXICO VOLUNTARY CONTRIBUTIONS SCHEDULE PRIMARY SOCIAL SECURITY NUMBER Print your name (first, middle, last) 1. Overpayment amount from form PIT-1, line 39 (voluntary contributions cannot exceed overpayment amount). 1. 2. New Mexico Housing Trust Fund Contribution to support affordable housing programs. 2. 3. Share With Wildlife Contribution to assist non-game or endangered species. 3. 4. Veterans' State Cemetery Fund Contribution to increase the size of the Santa Fe National Cemetery. 4. 5. New Mexico Substance Abuse Education Fund Contribution to provide additional funds for substance abuse education programs in New Mexico schools. 5. 6. New Mexico Forest Re-Leaf Program Contribution to provide grants to communities in New Mexico for planting trees on public lands. 6. 7. National Guard Member And Family Assistance Contribution to help members of the New Mexico national guard and their families. 7. 8. Kids 'N Parks Transportation Grant Program Contribution to help fund field trips for the Kids 'N Parks transportation grant program. 8. 9. Amyotrophic Lateral Sclerosis Research Fund Contribution to help fund research for Amyotrophic Lateral Sclerosis (Lou Gehrig's disease). 9. 10. Vietnam Veterans Memorial Contribution to help operate, maintain, and improve the Vietnam Veterans Memorial near Angel Fire, NM 10. 11. New Mexico Political Parties To contribute, enter the number of the state political party to which you choose to make a $2 donation. The spouse’s contribution is allowed on a jointly-filed return only. Allowable amounts for Line 11 are $2 or $4, otherwise leave blank. 11a. Enter number of your party choice .................................................................. 11a. ____ 11b. Enter number of your spouse's party choice ................................................... 11b. ____ 11. 1 for the New Mexico Democratic Party 2 for the New Mexico Republican Party 3 for the Libertarian Party of New Mexico 4 for the Green Party of New Mexico 5 for the Better for America Party of New Mexico 6 for the Constitution Party of New Mexico 12. Veterans Enterprise Fund Contribution to carry out the programs, duties, or services of the Department of Veterans' Services. 12. 13. Lottery Tuition Fund Contribution to provide tuition assistance for New Mexico resident undergraduates. 13. 14. Equine Shelter Rescue Fund Contribution to help fund equine rescues and homeless equines in New Mexico. 14. 15. Animal Care And Facility Fund Contribution to carry out the statewide dog and cat spay and neuter program. 15. 16. Supplemental Senior Services Contribution to support seniors with the greatest needs statewide to receive services through the Aging and Long- Term Services Department. 16. 17. Healthy Soil Program Contribution to the Board of Regents of New Mexico State University to support the healthy soil program. 17. 18. Total of voluntary contributions. (Add lines 2 through 17, amount cannot exceed line 1) Enter total here and on Form PIT-1, line 40. 18.

*230680100* 2023 PIT-CR NEW MEXICO BUSINESS-RELATED INCOME TAX CREDIT SCHEDULE Use this schedule to claim the business-related income tax credits listed on this form that you may take against New Mexico personal in- come taxes. If applicable, you may also claim the refundable portion of approved tax credits using this schedule. On your Personal Income Tax Return (PIT-1), line 21, enter the total tax credits you claimed on line A of this schedule to apply to tax due. On PIT-1, line 26, enter the total refundable part of the tax credits claimed on line B of this schedule. Be sure to attach the appropriate backup documentation to support each tax credit. When claiming these credits, you must attach Schedule PIT-CR to your PIT-1. To calculate the amount you may claim for any tax year, refer to the claim form for the credit, or if no claim form, refer to the instructions. The sum of credits claimed on this PIT-CR and the credit for taxes paid to another state you claimed on PIT-1, line 20, may not exceed the sum of PIT-1, lines 18 and 19. For a complete description of the credits, see the PIT-CR instructions and FYI-106, Claiming Business-Related Tax Credits for Individuals and Businesses. Print your name (first, middle, last) YOUR SOCIAL SECURITY NUMBER Credit Type Code Credit Name and Attachments Required to Claim Credit Non-Refundable (Credits may be claimed in column C only.) A01 Affordable Housing Tax Credit. Attach Form RPD-41301 and MFA investment vouchers. A02 Angel Investment Credit. Attach Form RPD-41320 and certificate of eligibility.

A04 Advanced Energy Tax Credit. Attach Form RPD-41334 and approval letter. Repealed July 1, 2023. A05 Agricultural Biomass Tax Credit. Attach Form RPD-41361 and certificate of eligibility. F02 Foster Youth Employment Personal Income Tax Credit. Attach RPD-41390. G01 Geothermal Ground-Coupled Heat Pump Tax Credit. Attach Form RPD-41346 and certificate of eligibility. J01 Job Mentorship Tax Credit. Attach Forms RPD-41281 and RPD-41280 L01 Land Conservation Incentives Credit. Attach Form RPD-41282 and approval letter of qualified donation. P01 Preservation of Cultural Property Credit. Attach Form PIT-4, certification letter and Part 2 approval. R01 Rural Job Tax Credit. Attach Form RPD-41243. R02 Rural Health Care Practitioners Tax Credit. Attach Form RPD-41326 and certification. S01 Solar Market Development Tax Credit. Attach Form RPD-41317 and certification. S02 Sustainable Building Tax Credit. Attach Form RPD-41329 and letter of eligibility. S03 2015 Sustainable Building Tax Credit. Attach Form RPD-41383 and letter of eligibility. S04 New Solar Market Development Tax Credit. Attach TRD-41406 and certification. S05 2021 Sustainable Building Tax Credit. Attach TRD-41252 and certificate of eligibility. Refundable (Credits may be applied against tax due in column C and refunded in column D) F01 Film Production Tax Credit. Attach Form RPD-41228. F03 New Film Production Tax Credit. Attach Form RPD-41228. F04 New Mexico Film Partners New Film Production Tax Credit. Attached Form RPD-41228. R03 Renewable Energy Production Tax Credit. Attach Form RPD-41227 and certificate of eligibility. S04 New Solar Market Development Tax Credit. Attach TRD-41406 and certification. S05 2021 Sustainable Building Tax Credit. Attach TRD-41252 and certificate of eligibility. T02 Technology Jobs and Research and Development (Additional) Tax Credit. Attach Form RPD-41386. Column A Column B Column C Column D Credit Type Code Credit Approval Number Amount of Credit Applied to Tax Due Amount of Credit to Refund 1. 2. 3. 4. 5. Important: Fill out columns A-D, rows 1-5 if applicable. Incomplete claim forms may result in denial of the credit. You must use the table below, substitute schedules or tables are not allowed. A. TOTAL applied to tax liability due.................................... Enter the sum of column C. Also enter this amount on PIT-1, line 21. If you are claiming more that 5 credits, include the amounts from your PIT-CR Supplemental schedule. B. TOTAL portion of tax credits to refund (credit types F01, F03, F04, R03, S04, S05 and T02)............ Enter the sum of column D. Also enter this amount on PIT-1, line 26. If claiming more than 5 credits, include all refundable amounts of credit types F01, F03, F04, R03,S04, S05 and T02 from your PIT-CR Supplemental schedule.

*230690100* 2023 PIT-CR Supplemental If you are claiming more than five tax credits on your New Mexico Personal Income Tax Return (PIT-1), use this PIT- CR Supplemental Schedule. Claim the first five on Schedule PIT-CR and then claim the sixth and any additional credits on a supplemental schedule. The credit type codes and names are listed on PIT-CR. NEW MEXICO SUPPLEMENTAL BUSINESS-RELATED INCOME TAX CREDIT SCHEDULE If you need more space, use multiple PIT-CR Supplemental Schedules. You must attach PIT-CR and all PIT-CR supplemental schedules to your PIT-1. If they are not attached, the Department denies any additional tax credit claims. Print your name (first, middle, last) YOUR SOCIAL SECURITY NUMBER Column A Column B Column C Column D Credit Type Code Credit Approval Number Amount of Credit Applied to Tax Due Amount of Credit to Refund 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. Total applied on this sheet ....................................................

Enter the sum of column C. Include this amount on PIT-CR, line A.

Portion of tax credits to refund (credit types F01, F03, F04, R03, S04, S05 and T02)....................... Enter the sum of column D. Include this amount on PIT-CR, line B.

*230160100* AS PREVIOUSLY FILED AS AMENDED 9. FEDERAL ADJUSTED GROSS INCOME. (from federal Form 1040 or 1040SR, line 11)......... 9 10. If you itemized your federal deduction amount, enter the amount of state and local tax deduction claimed on federal Form 1040, Schedule A, line 5a. See the instructions................. + 10 11. Total Additions to federal adjusted gross income (PIT-ADJ, line 6). Attach PIT-ADJ................ + 11 12. Federal standard or itemized deduction amount (from federal Form 1040, line 12)................... - 12 12a. If you itemized, mark the box................................................................................ 12a 13. Deduction for certain dependents. See the worksheet in the PIT-1 instructions......................... - 13 14. New Mexico low- and middle-income tax exemption. See PIT-1 instructions............................. - 14 15. Total Deductions and Exemptions from federal income (PIT-ADJ, line 27). Attach PIT-ADJ.. - 15 16. Medical care expense deduction. See PIT-1 instructions - 16 You must complete both lines 16 and 16a or the deduction will be denied. 16a. Unreimbursed and uncompensated medical care expenses............. 16a 17. NEW MEXICO TAXABLE INCOME. Add lines 9, 10 and 11, then subtract lines 12, 13, 14, 15 and 16................. Cannot be less than zero = 17 18. New Mexico tax on amount on line 17 or from PIT-B, line 14..................................................... 18 18a. From Tax Rate Table = R. From PIT-B, line 14 = B............................................... 18a 19. Additional amount for tax on lump-sum distributions. See PIT-1 instructions............................. + 19 20. Credit for taxes paid to another state. You must have been a New Mexico resident during all or part of the year. Include a copy of other state's return. See PIT-1 instructions.................. - 20 21. Business-related income tax credits applied, from Schedule PIT-CR, line A. Attach PIT-CR.... - 21 22. NET NEW MEXICO INCOME TAX. Add lines 18 and 19, then subtract lines 20 and 21. ....... = 22 You may file an amended return online through Taxpayer Access Point (TAP) at https://tap.state.nm.us. Continue on the next page.

Column 1 First name Last name

Column 2 Dependent's SSN Column 3 Date of birth (MM/DD/CCYY) 8. DEPENDENTS AND OTHER DEPENDENTS. As listed on your federal return. (You must report the first 5 dependents and other dependents in this table. Use Schedule PIT-S for additional entries.) 5. SOCIAL SECURITY NUMBER Print your name (first, middle, last) Age 65 Blind or over 1a 2a Print your spouse's name (first, middle, last). If married filing separately, include spouse. 1b 2b 2e 1e 2d 1d 2c 1c 2f 1f Residency status 4d 4c SSN 4. Name 4a 4b Taxpayer's date of death Spouse's date of death If taxpayer or spouse died before this return is filed, enter date of death. If a deceased taxpayer's refund must be made payable to a person other than the taxpayer or spouse named on this return, enter below the name and social security number of that person. You must also attach Form RPD-41083. Taxpayer's date of birth Spouse's date of birth If the address is new or changed, mark this box. Mailing Address (Number and street) City State Postal/ZIP Code 3a 3b If foreign address, enter country Foreign province and/or state 3c 3d EXEMPTIONS: Taxpayer, spouse, dependents, and other dependents reported on federal Form 1040. If you are a dependent or other dependent of another taxpayer, enter 00. (See instructions) Residency status: For taxpayer and spouse (1e and 2e), enter: 6a 6b EXTENSION OF TIME TO FILE: If you have a federal or state extension, mark box 6a and enter the extension date in box 6b. 7. FILING STATUS. Mark only one box. (4a) (3) Married filing separately (Enter spouse's name and social security number in 2a and 2b.) (4) Head of household (Enter name of person qualifying you as head of household if that person is not counted as a qualified dependent on your federal return.) (5) Surviving Spouse with dependent child (1) Single (2) Married filing jointly R if Resident N if Non-Resident F if First-Year Resident P if Part-Year Resident Get your refund faster, file online using Taxpayer Access Point TAP https://tap.state.nm.us. 2023 PIT-X NEW MEXICO PERSONAL INCOME TAX AMENDED RETURN For the year January 1 - December 31, 2023 or fiscal year beginning ending F.2 F.1 FOR DEPARTMENT USE ONLY

*230170100* AS PREVIOUSLY FILED AS AMENDED 23. The amount on line 22 from page 1............................................................... 23 24. Total claimed on rebate and credit schedule (PIT-RC, line 26 ). Attach PIT-RC........................ 24 25. Working families tax credit. (Lines 25, 25a, and 25b* or the deduction will be denied.)............. + 25 25a. The amount of federal earned income credit (EIC) reported on your 2023 federal income tax return or calculated under NM Expansion..... 25a 25b. *NM Expansion Only: Check this box if you did not qualify for the EIC on your federal return........................................................................................................ 25b 26. Refundable business-related income tax credits from Schedule PIT-CR, line B. Attach PIT-CR...... + 26 27. New Mexico income tax withheld. Attach annual statements of income and withholding... + 27 28. New Mexico income tax withheld from oil and gas proceeds. Attach 1099-Misc or RPD-41285........... + 28 29. New Mexico income tax withheld from or paid by a pass-through entity. Attach 1099-Misc or RPD-41359............................................................................................... + 29 30. 2023 estimated income tax payments. See PIT-1 instructions.................................................... + 30 31. Other Payments less any refunds from this schedule, line S3, below......................................... + 31 32. TOTAL PAYMENTS AND CREDITS. Add lines 24 through 31................................................... = 32 33. TAX DUE. If line 22 is greater than line 32, enter the difference here...................................... 33 34. Penalty on underpayment of estimated tax. See PIT-1 instructions............................................ + 34 35. Special method allowed for calculation of underpayment of estimated tax penalty. Enter 1, 2, 3, 4, or 5 in the box. (See Instructions) Attach RPD-41272........................................................ 35 36. Penalty. See PIT-1 instructions. ................................................................................................. + 36 37. Interest. See PIT-1 instructions. ................................................................................................. + 37 38. TAX, PENALTY, AND INTEREST DUE. Add lines 33, 34, 36, and 37....................................... = 38 39. OVERPAYMENT. If line 22 is less than line 32, enter the difference here................................ 39 40. Refund voluntary contributions (PIT-D, line 18). Attach PIT-D.................................................... - 40 41. Amount from line 39 you want applied to your 2024 Estimated Tax....................................... - 41 42. AMOUNT TO BE REFUNDED TO YOU. Line 39 minus lines 40 and 41................................... = 42 Refund Express!! Have it directly deposited! See instructions and complete all questions in this block. RE. 1 Routing Number RE. 2 Account Number RE.3 Account Type: Checking Savings Re. 4: Will this refund go to or through an account outside of the United States? Important: If "yes," you can not use this refund method. See instructions. Yes No I declare I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief it is true, correct, and complete. Paid preparer's use only: Your signature Date Signature of preparer Date Driver's License, State ID No. or enter "NONE" or "DECLINED" State Expiration Date P.1 Firm's name (or yours, if self-employed) Spouse's signature Date P.2 NMBTIN P.3 Preparer's PTIN Spouse's Driver's License, State ID No. or enter "NONE" or "DECLINED" State Expiration Date P.4 FEIN P.5 Preparer's phone number (If filing jointly, BOTH must sign even if only one had income.) Mark this box if Form RPD-41338 is on file for this tax­ payer. See PIT-1 instructions. Taxpayer's phone number P.6 Taxpayer's email address Complete this schedule and report the result on line 31, Other payments less any refunds from schedule below. Date Amount S1. 2023 Other payments. List any tax year 2023 payments made before or separate from the sub­ mission of this amended return. Also, enter the date of the payment. Do not include any estimated payments reported on line 30 of this form. If you made more than four payments, attach a schedule showing payment dates and amounts. S1a Sum of payments S2. 2023 Refunds received. List any refunds received from a previously filed 2023 New Mexico PIT-1. Do not include any interest the New Mexico Taxation and Revenue Department paid, if any, on your refund. S2a Sum of refunds S3. Subtract line S2a from line S1a. Subtract the sum of refunds reported on line S2a from the sum of payments reported on line S1a. Enter here and on line 31 of this form. May be a negative number. S3 YOUR SOCIAL SECURITY NUMBER Reason for amending: _____________________________________________________________________________________________________ Final Determination Date: ___________________ 2023 PIT-X (page 2) NEW MEXICO PERSONAL INCOME TAX AMENDED RETURN

2023 PIT-PV New Mexico Personal Income Tax Payment Voucher Use this voucher if making a payment with or for your 2023 tax return. Make your check or money order payable to: New Mexico Taxation and Revenue Department Mail payment and voucher to: New Mexico Taxation and Revenue Department P.O. Box 8390, Santa Fe, NM 87504-8390 YOUR SOCIAL SECURITY NUMBER SPOUSE’S SOCIAL SECURITY NUMBER YOUR FIRST NAME AND INITIAL LAST NAME SPOUSE’S FIRST NAME AND INITIAL LAST NAME ADDRESS (Number & Street) CITY, STATE AND ZIP CODE AMOUNT ENCLOSED 0 0 , , . (PLEASE CUT ALONG DOTTED LINE) 2023 PIT-EXT New Mexico Personal Income Tax Extension Payment Voucher Use this voucher if you obtained a federal or state extension and you expect to owe tax. YOUR SOCIAL SECURITY NUMBER SPOUSE’S SOCIAL SECURITY NUMBER YOUR FIRST NAME AND INITIAL LAST NAME SPOUSE’S FIRST NAME AND INITIAL LAST NAME ADDRESS (Number & Street) CITY, STATE AND ZIP CODE Make your check or money order payable to: New Mexico Taxation and Revenue Department Mail payment and voucher to: New Mexico Taxation and Revenue Department P.O. Box 8390, Santa Fe, NM 87504-8390 AMOUNT ENCLOSED 0 0 , , . 2023 PIT-ES New Mexico Personal Income Estimated Tax Payment Voucher - 4th Quarterly Payment Use this voucher if making a 4th quarter estimated tax payment for your 2023 return. YOUR SOCIAL SECURITY NUMBER SPOUSE’S SOCIAL SECURITY NUMBER YOUR FIRST NAME AND INITIAL LAST NAME SPOUSE’S FIRST NAME AND INITIAL LAST NAME ADDRESS (Number & Street) CITY, STATE AND ZIP CODE Make your check or money order payable to: New Mexico Taxation and Revenue Department Mail payment and voucher to: New Mexico Taxation and Revenue Department P.O. Box 8390, Santa Fe, NM 87504-8390 AMOUNT ENCLOSED 0 0 , , . (PLEASE CUT ALONG DOTTED LINE)

YOUR SOCIAL SECURITY NUMBER SPOUSE’S SOCIAL SECURITY NUMBER YOUR FIRST NAME AND INITIAL LAST NAME SPOUSE’S FIRST NAME AND INITIAL LAST NAME ADDRESS (Number & Street) CITY, STATE AND ZIP CODE Make your check or money order payable to: New Mexico Taxation and Revenue Department Mail payment and voucher to: New Mexico Taxation and Revenue Department P.O. Box 8390, Santa Fe, NM 87504-8390 AMOUNT ENCLOSED 0 0 , , . 2024 PIT-ES New Mexico Personal Income Estimated Tax Payment Voucher - 1st Quarterly Payment Use this voucher if making a 1st quarter estimated tax payment for your 2024 return. YOUR SOCIAL SECURITY NUMBER SPOUSE’S SOCIAL SECURITY NUMBER YOUR FIRST NAME AND INITIAL LAST NAME SPOUSE’S FIRST NAME AND INITIAL LAST NAME ADDRESS (Number & Street) CITY, STATE AND ZIP CODE Make your check or money order payable to: New Mexico Taxation and Revenue Department Mail payment and voucher to: New Mexico Taxation and Revenue Department P.O. Box 8390, Santa Fe, NM 87504-8390 AMOUNT ENCLOSED 0 0 , , . 2024 PIT-ES New Mexico Personal Income Estimated Tax Payment Voucher - 2nd Quarterly Payment Use this voucher if making a 2nd quarter estimated tax payment for your 2024 return. YOUR SOCIAL SECURITY NUMBER SPOUSE’S SOCIAL SECURITY NUMBER YOUR FIRST NAME AND INITIAL LAST NAME SPOUSE’S FIRST NAME AND INITIAL LAST NAME ADDRESS (Number & Street) CITY, STATE AND ZIP CODE Make your check or money order payable to: New Mexico Taxation and Revenue Department Mail payment and voucher to: New Mexico Taxation and Revenue Department P.O. Box 8390, Santa Fe, NM 87504-8390 AMOUNT ENCLOSED 0 0 , , . 2024 PIT-ES New Mexico Personal Income Estimated Tax Payment Voucher - 3rd Quarterly Payment Use this voucher if making a 3rd quarter estimated tax payment for your 2024 return. YOUR SOCIAL SECURITY NUMBER SPOUSE’S SOCIAL SECURITY NUMBER YOUR FIRST NAME AND INITIAL LAST NAME SPOUSE’S FIRST NAME AND INITIAL LAST NAME ADDRESS (Number & Street) CITY, STATE AND ZIP CODE Make your check or money order payable to: New Mexico Taxation and Revenue Department Mail payment and voucher to: New Mexico Taxation and Revenue Department P.O. Box 8390, Santa Fe, NM 87504-8390 AMOUNT ENCLOSED 0 0 , , . 2024 PIT-ES New Mexico Personal Income Estimated Tax Payment Voucher - 4th Quarterly Payment Use this voucher if making a 4th quarter estimated tax payment for your 2024 return. (PLEASE CUT ALONG DOTTED LINE) (PLEASE CUT ALONG DOTTED LINE) (PLEASE CUT ALONG DOTTED LINE)

LINES 4 TO 12 Calculate Modified Gross Income Before you complete lines 4 to 12, read New Mexico’s defini‑ tion of modified gross income that follows. What is Modified Gross Income? Modified gross income (also called MGI) is unique to New Mexico law. In general, modified gross income is all income and other compensation you receive from all sources (re‑ gardless of whether that income is taxable by the U.S. Gov‑ ernment or the State of New Mexico) for you, your spouse, and your dependents. You may not reduce modified gross income by deductions or offset modified gross income by losses allowed for income tax purposes under the New Mexico Income Tax Act or under the Internal Revenue Code. When calculating modified gross income, include the modi‑ fied gross income of the taxpayer and all household mem‑ bers. Even if you are married and filing separate returns, the total modified gross income of both spouses must appear in the calculation. Because the following items are excluded from the defini‑ tion of modified gross income, you do not need to report any of them: • Money lent to you that you are legally bound to repay • Supplemental Nutrition Assistance Program (SNAP) benefits or Women, Infants, and Children (WIC) vouch‑ ers • Payments by any party or by Medicare or any similar plan for hospital, dental, medical, or drug expenses whether or not the payment is made directly to the insured/recipient or to a third-party provider, and whether or not a premium is paid • Money received during the year as low income or prop‑ erty tax rebates or as child day care credit • Medical care payments made by Medicaid, the State Hu‑ man Services Department, the County Indigent Hospital Claims Fund, CHAMPUS, Veterans Administration (VA), or Workers’ Compensation • Rent subsidies, weatherization, energy, and housing re‑ habilitation benefits, such as Section 8 housing assis‑ tance • Stipends paid to foster grandparents • Free room and board when not considered compensa‑ tion LINE 4. Enter your wages, salaries, tips, etc. If your wages, salaries, tips, etc. were exempt or deducted from federal adjusted gross income on Schedule PIT-ADJ, you must in‑ clude them on line 4 to calculate your modified gross income. LINE 5. Enter the gross amount of social security benefits, pensions, annuities, and Railroad Retirement benefits. If Medicare or other deductions were taken out of pensions or annuities, show the full pension or annuity amount before deductions. LINE 6. Enter your unemployment benefits from all sources and any workers’ compensation benefits you received. Do not include medical benefits. LINE 7. Enter the amount you received from public as‑ sistance, TANF or a similar program, general assistance benefits, and SSI. Do not include medical care benefits, rent subsidies, weatherization, energy, or housing rehabilitation benefits. LINE 8. Enter your net profit from business, farm, or rentals. This includes income from self-employment. If it is a loss, enter zero. If you have more than one business, farm, or rental property, you may not offset the loss of one business, farm, or rental against the profit of another business, farm, or rental or against any other source of income. LINE 9. Enter your gross capital gains. Do not reduce them by capital losses. Include in capital gains any gain on the sale of a personal residence in 2023 that is deferred or not subject to federal income tax. LINE 10. Enter all gifts of cash or marketable tangible items no matter who gave them to you. You must give a reason‑ able value to the gifts. LINE 11. Enter all income not included on lines 4 to 10, re‑ gardless of whether it is taxable as federal or state income. This income may include, but is not limited to: • Interest, including interest from U.S. Government obliga‑ tions and interest on state and municipal bonds • Dividends • Gross gambling, gaming, and lottery winnings from any source without reducing winnings by any losses • Insurance or court settlements • Scholarships, fellowships, prizes, awards, or grants • Other cash prizes and awards • VA benefits • Income from an estate or trust • Alimony, separate maintenance, and child support pay‑ ments • Receipt of contribution withdrawals from deferred com‑ pensation plans • Royalties from any source • Distributions from employee stock ownership plans or other employee benefit plans, except for medical benefits • Income from discharge of indebtedness not involving bank‑ ruptcy • Value of a legacy, devise, bequest, or inheritance re‑ ceived • Distributions from partnerships, S corporations, or similar pass-through entities • Amounts received from endowment contracts • The value of room and board received as compensation • All ordinary gains from dealing in or selling property • Cost-of-living, moving, or other allowances received as compensation. PIT-RC RC-4 www.tax.newmexico.gov

SECTION 2 Low Income Comprehensive Tax Rebate LINE 14. To qualify for this rebate, all of the following must be true: • You have a modified gross income of $36,000 or less. • You were a resident of New Mexico during the tax year. • You were physically present in New Mexico for at least six months in 2023. • You are not eligible to be claimed as a dependent of an‑ other taxpayer for 2023. • You were not an inmate of a public institution for more than six months in 2023. To find the amount of your low income comprehensive tax rebate, follow these steps: 1. In the left column of Table 1, 2023 Low Income Compre- hensive Tax Rebate Table, find the line that includes the modified gross income you entered on line 13. 2. Read across to the column that shows the number of ex‑ emptions you calculated on line 13a. This amount is your low income comprehensive tax rebate. 3. All taxpayers, other than married couples filing separate returns, enter this rebate amount on PIT‑RC, line 14. Mar‑ ried couples filing separate returns divide this amount by 2 and then enter the result on PIT-RC, line 14. NOTE: Include your rebate amount on PIT-RC, line 26. SECTION 3 Property Tax Rebate for Persons 65 or Older This rebate is for property tax billed or rent paid during tax year 2023 on your principal place of residence in New Mexico. The property tax rebate cannot exceed $250 or, for a married taxpayer filing a separate return, the rebate cannot exceed $125. IMPORTANT: No property tax rebate is available for property that is not subject to property tax. To qualify for a rebate all of the following must be true: • You have a modified gross income of $16,000 or less. • You were age 65 or older on the last day of the tax year. • You were a resident of New Mexico during the tax year. • You were physically present in New Mexico for at least six months in 2023. • You are not eligible to be claimed as a depen‑ dent of another taxpayer for 2023. • You were not an inmate of a public institution for more than six months in 2023. What is Principal Place of Residence? For purposes of the property tax rebate for persons 65 or older, principal place of residence is the dwelling and related structures—whether owned or rented—and only the amount of surrounding land reasonably necessary to use the dwelling as a home. The surrounding land may not exceed five acres. If you have more acreage than is reasonably necessary to maintain a dwelling, adjust the amount of property tax billed to reflect the principal place of residence only. You may use only this smaller amount to calculate the tax rebate. Example. If a taxpayer’s principal place of residence is located on 25 acres, include the total amount of property tax billed for the house alone plus the part of the land that is reasonably necessary to maintain the residence, but not more than 5 acres. If only one acre is reasonably necessary to maintain the residence, divide the tax due on the land by the total number of acres for which property tax was billed. Add the property tax billed on the home to the amount of property tax billed on the land. The total is the amount of property tax billed. Use this total amount to calculate your rebate. TABLE 1. 2023 Low Income Comprehensive Tax Rebate Table Modified Gross Income from PIT-RC, Line 13 Number of Exemptions from PIT-RC, Line 13a But not over 1 2 3 4 5 6 or more 0 1,000 211 281 352 422 492 563 1,001 1,500 238 341 438 546 617 730 1,501 2,500 238 341 438 546 617 763 2,501 7,500 238 341 438 546 617 790 7,501 8,000 222 335 422 536 622 790 8,001 9,000 200 308 406 519 622 757 9,001 10,000 184 271 368 460 552 720 10,001 11,500 157 227 298 390 481 649 11,501 13,000 141 200 254 319 395 519 13,001 14,500 124 184 238 298 341 422 14,501 16,500 114 168 200 254 308 362 16,501 18,000 108 141 179 227 271 325 18,001 19,500 97 124 157 195 238 281 19,501 21,000 87 114 151 179 200 249 21,001 23,000 87 114 151 179 200 249 23,001 24,500 81 108 130 157 184 211 24,501 26,000 70 97 124 151 168 195 26,001 27,500 60 87 114 141 151 184 27,501 29,500 54 81 108 124 141 168 29,501 31,000 43 60 87 108 124 141 31,001 32,500 38 54 70 87 108 114 32,501 34,000 27 43 54 70 87 97 34,001 36,000 16 38 43 60 70 81 PIT-RC RC-5 www.tax.newmexico.gov

LINE 15. Complete line 15 only if you own your principal place of residence and you were billed property tax. The property tax you claim on line 15 is only that part of the an‑ nual property tax billed for the period you lived there.

For the definition of “principal place of residence,” see What is Principal Place of Residence? beginning on page RC-5. Changes in Your Principal Place of Residence If you paid rent for your principal place of residence for part of the year, and you were billed property tax for your princi‑ pal place of residence for the other part of the year, you can claim both for the parts of the year you lived in the residence. If you were billed property tax on your manufactured home and you also paid rent for your lot or space, you can claim both. LINE 16. Complete line 16 only if you rented your principal place of residence in 2023. LINE 16a. Complete line 16a only if you paid rent on your principal place of residence. Enter the total amount of rent you paid during 2023, including any rent subsidy paid by a government entity to your landlord. LINE 16b. If a government entity paid a subsidy, mark an X in box 16b. LINE 16c. Multiply line 16a by 0.06, and enter the product in 16c. LINE 17. This rebate is for the property tax billed during tax year 2023. The property tax rebate may not exceed $250 or, for a married taxpayer filing a separate return, the rebate may not exceed $125. IMPORTANT: Make sure to include the amount on line 17c in the amount on PIT-RC, line 26. LINE 17b. To find your maximum property tax liability, follow these steps: 1. On Table 2, 2023 Maximum Property Tax Liability Table, find the Modified Gross Income range for the amount you entered on PIT‑RC, line 13. 2. Read across Table 2, 2023 Maximum Property Tax Li- ability Table to the Maximum Property Tax Liability col‑ umn, and enter the amount on line 17b. LINE 17c. Subtract the amount on line 17b from the amount on line 17a. Enter the amount of the difference on line 17c. If the amount is less than zero, enter 0. If the amount is $250 or over, enter $250 (the maximum allowed). Married Couples Filing Separately Married couples filing separate returns calculate the property tax rebate in a different way than other taxpayers. Subtract line 17b (maximum property tax liability) from line 17a (allowable amount of property tax billed and rent paid), and then divide the difference by 2. Enter this amount on line 17c. If the amount is less than zero, enter 0. If the amount is $125 or over, enter $125 (the maximum allowed). TABLE 2. 2023 Maximum Property Tax Liability Table Modified Gross Income from PIT-RC Maximum Property Tax Liability But Not Over 0 1,000 20 1,001 2,000 25 2,001 3,000 30 3,001 4,000 35 4,001 5,000 40 5,001 6,000 45 6,001 7,000 50 7,001 8,000 55 8,001 9,000 60 9,001 10,000 75 10,001 11,000 90 11,001 12,000 105 12,001 13,000 120 13,001 14,000 135 14,001 15,000 150 15,001 16,000 180 SECTION 4 Additional Low Income Property Tax Rebate for Los Alamos County, Santa Fe County, and Doña Ana County Residents Only This low income property tax rebate is for property tax paid during tax year 2023 on your principal place of residence (defined later in this section) in Los Alamos County, Santa Fe County, or Doña Ana County. This property tax rebate may not exceed $350 or, for a married taxpayer filing a separate return, $175. IMPORTANT: No property tax rebate is available for property that is not subject to property tax. No Age Limit You do not need to be 65 or older to be eligible for this re‑ bate. If you are a Los Alamos County, Santa Fe County, or Doña Ana County resident who is age 65 or older on the last day of the tax year, you may be eligible for this rebate and the property tax rebate for persons 65 or older on line 17c. Requirements To qualify for the rebate, all of the following must be true: • You have a principal place of residence in Los Alamos County, Santa Fe County, or Doña Ana County. PIT-RC RC-6 www.tax.newmexico.gov

• You have a modified gross income of $24,000 or less. • You were a resident of New Mexico during the tax year. • You were physically present in New Mexico for at least six months in 2023. • You were not eligible to be claimed as an other dependent of another taxpayer for 2023. • You were not an inmate of a public institution for more than six months in 2023. Mailing Address Not In Counties If the mailing address on your 2023 PIT-1 return is not a Los Alamos County, Santa Fe County, or Doña Ana County address, you must attach a property tax statement to your return. Definition of “Principal Place of Residence” For This Rebate For the purposes of the low income property tax rebate for Los Alamos County, Santa Fe Country, and Doña Ana County residents only, principal place of residence is the dwelling and related structures the taxpayer owns and occupies, and only that amount of surrounding land reasonably necessary to use the dwelling as a home. The surrounding land may not exceed five acres. For purposes of this credit, a principal place of residence does not include rented land or structures. If you have more acreage than is reasonably necessary to maintain a dwelling, adjust the amount of property tax billed to reflect the principal place of residence only. You are re‑ quired to use this smaller amount to calculate the tax rebate. Table 3. 2023 Low Income Property Tax Rebate Table for Los Alamos County, Santa Fe County, or Doña Ana County Residents Only Modified Gross Income from PIT-RC, Line 13 Property Tax Rebate Percentage (of property tax liability) But Not Over 0 8,000 75% 8,001 10,000 70% 10,001 12,000 65% 12,001 14,000 60% 14,001 16,000 55% 16,001 18,000 50% 18,001 20,000 45% 20,001 22,000 40% 22,001 24,000 35% Boxes 18. Mark either the Los Alamos County box, the Santa Fe County box, or the Doña Ana County box to in‑ dicate the county where your principal place of residence was located and for which you are claiming the additional low income property tax rebate. LINE 18a. For property you own that is your principal place of residence, enter the tax billed for the calendar year. LINE 18b. To find the percentage of your property tax rebate, follow these steps: 1. On Table 3, 2023 Low Income Property Tax Rebate Table for Los Alamos County, Santa Fe County, or Doña Ana County Residents Only, find the Modified Gross Income range that includes the amount you entered on PIT‑RC, line 13. 2. Read across to the Property Tax Rebate Percentage column, and enter this percentage on line 18b. LINE 18c. Multiply the percentage on line 18b (property tax rebate percentage) by the amount on line 18a (allowable property tax billed). Enter the product on line 18c. If the amount is less than zero, enter 0. If the amount is $350 or over, enter $350 (the maximum allowed). Married Couples Filing Separately Married couples filing separate returns calculate the property tax rebate in a different way than other taxpayers. Multiply 18a by 18b, and then divide the product by 2. Enter this amount on line 18c. If the amount is less than zero, enter 0. If the amount is $175 or over, enter $175 (the maximum allowed). Example. The property tax billed to Los Alamos Resident A on her principal place of residence was $800 for calendar year 2023. On line 18a, Resident A enters $800. Because her modified gross income for 2023 was $19,000, Resident A enters on line 18b the property tax rebate percentage of 45%. To calculate line 18c, Resident A multiplies $800 by 0.45 (45%). The result is $360, but because the maximum rebate allowable is $350, she enters $350 on line 18c. IMPORTANT: Include the amount on line 18c in the amount on PIT-RC, line 26. SECTION 5 New Mexico Child Day Care Credit The child day care credit may not exceed $1,200 or, for a married taxpayer filing a separate return, $600. Married individuals maintaining a household for one or more qualifying dependents, but filing separate returns for a tax year, may each claim only half the credit allowed on a joint return. To qualify for the credit, all of the following must be true: • You have a modified gross income of $30,160 or less. • You were a resident of New Mexico during any part of the tax year. PIT-RC RC-7 www.tax.newmexico.gov

• You provided over half the cost of maintaining a house‑ hold for one or more qualifying dependents for the part of the tax year for which you are claiming the credit (either separately or jointly with a spouse). • You were gainfully employed for the part of the tax year for which you are claiming the credit. • You were not a recipient of public assistance under TANF, the New Mexico Works Act, or a similar program during the part of the tax year for which you are claiming the credit. • You have not been reimbursed or compensated for the amount of child day care expense for which you are claiming the credit. Reimbursed or compensated child day care expenses, like those paid with pre-tax dollars under cafeteria and similar benefit plans, are also ineligible. Residency Requirement If you qualify as a first-year, full-year, or part-year resident of New Mexico, you may claim the child day care credit. For definitions of residency, see PIT-1 instructions, page 4, Definitions. Public Assistance The Department checks with appropriate state agencies to verify if you are receiving public assistance. Caregiver Qualifications You cannot claim a credit for amounts paid to a caregiver unless all of the following are true for the caregiver: • If an individual, the caregiver was at least 18 years old when providing the care. • The caregiver provided the day care service in New Mex‑ ico. • The caregiver provided day care for less than 24 hours daily. • You or your spouse could not claim the caregiver as a dependent for federal income tax purposes. Married Couples Filing Separately If spouses file a joint return, both must have been gainfully employed unless one was disabled for the part of the tax year for which you are claiming the credit. Couples who maintain a household for one or more qualifying dependents, but file separate returns for a tax year, may each claim only half the credit allowed for a joint return. Keep Copies of Your Receipts In case you are selected for audit or verification of the expenses you claim, make sure to keep copies of all your receipts with your records. Definitions for Child Day Care Credit “Qualifying dependent” means a person under the age of 15 at the end of the tax year who has received the services of a caregiver. “Dependent” includes a child of divorced or legally separated parents when the taxpayer meets all requirements for claiming a federal child care credit. “Gainfully employed” means working for others for compensa‑ tion, either full-time or part-time, or being self-employed. Actively seeking employment or school attendance does not qualify as gainful employment. “Cost of maintaining a household” means the expenses for operating the principal place of residence for the mutual ben‑ efit of its occupants. These expenses include property taxes, mortgage interest, rent, utility charges, upkeep and repairs, property insurance, and food. Cost of maintaining a household does not include cost of clothing, education, medical treatment, vacations, life insurance, transportation, or principal payments on mortgages. “Disabled person” means a person who has a medically de‑ terminable physical or mental impairment, as certified by a licensed physician or an advanced practice registered nurse, certified nurse-midwife or physician assistant working within that person’s scope of practice, that renders the person unable to engage in gainful employment. NOTE: The Department may ask you to provide certification of your disability, but do not include it with your return. “Caregiver” means either an individual 18 years of age or older, or a corporation that receives compensation from the credit claimant for providing direct care and supervision to a qualify‑ ing dependent in New Mexico. A caregiver may be related to, but not a dependent of, the claimant. Example of Attending School and Working. You are a single parent who provides over 50% of the support for a dependent child. You attended school from January through May, and became gainfully employed full time on June 1. You had child care expenses for the entire year from a caregiver located in New Mexico. You were not compensated or reim‑ bursed for child day care services during the tax year. You can claim the credit for child care only for expenses from June through December, while you were employed. You cannot count expenses for child care from January through May, while you were attending school and not working. Calculating and Claiming the Credit To calculate and claim your allowable Child Day Care Credit, follow these steps: 1. From each caregiver, get a Form PIT‑CG, New Mexico Caregiver’s Statement (see page RC-12). 2. Use the information on the PIT‑CGs to complete the Child Day Care Credit Worksheet (see page RC-11). Only include qualifying day care expenses performed in New Mexico. 3. Make copies of the Child Day Care Credit Worksheet and all PIT-CGs. Keep the originals for your records. 4. Submit copies of both the Child Day Care Credit Work- sheet and all PIT-CG’s with your PIT-1 return. PIT-RC RC-8 www.tax.newmexico.gov

For more information, see Quick Guide 10- New Mexico’s Income Tax Child Day Care Credit, on www.tax.newmexico. gov. At the top, click FORMS AND PUBLICATIONS, click on then select Quick Guides (Formerly Brochures) from the Publications folder. LINE 19. From your Child Day Care Credit Worksheet, en‑ ter the sum of the amounts in Column G, but no more than $1,200. This is your child day care credit. LINE 20. Enter the total of your qualified dependents under age 15 who received child day care services in 2023. LINE 21. Enter the amount of the federal child and dependent care credit you claimed on your federal Schedule 3, line 1. First-Year Residents Only To calculate your federal child and dependent care credit adjustment, use For First-Year Residents Only Worksheet to Adjust the Federal Credit for Child and Dependent Care Credit. Enter the amount from line 5 of the worksheet. For First-Year Residents Only Worksheet to Adjust the Federal Credit for Child and Dependent Care Credit 1. Enter the amount of federal child and dependent care credit allowed on the federal Schedule 3, line 2. $ 2. Enter the number of days during the tax year that you were a resident of New Mexico. 3. Enter the number of days during the tax year, either 365 days or 366 days for a leap year. 4. Divide line 2 by line 3. Round to three decimal places __ . __ __ __ 5. Multiply line 4 by line 1. Enter this amount on PIT-RC, line 21. $ LINE 22. The maximum New Mexico day care credit amount is $1,200, where a maximum of $480 is allowable per child. To find the amount of New Mexico child day care credit you can claim, subtract line 21 from line 19. Married Couples Filing Separately If married filing separately, subtract line 21 from line 19, and divide by 2. Enter this amount on line 22. Couples who maintain a household for one or more qualifying dependents, but file separate returns for a tax year, may each claim only half the credit allowed for a joint return. Example For More Than One Child. You have three children and each child received 200 days of care. You were not compensated or reimbursed for child day care services during the tax year. The fee was $10 daily for each child. On the Child Day Care Credit Worksheet, enter your first child’s name and age in columns A and B. Enter the number of days of care (200) in column C. Even though the actual amount you paid was $10, enter $8 in column D because the maximum allowable daily amount for calculating the credit is $8. For column E, calculate the amount allowed for the year, as shown here: 200 x $8 = $1,600 (amount allowed) For column G, first find 40% of $1,600, as shown next: 0.40 x $1,600 = $640 (40% of $1,600) Because $640 is greater than $480 (the maximum allowable amount per child), enter $480 in column G. Calculate the credit amounts for the second and third child in the same way. The total for the three children is $1,440 (3 x $480). Because this is more than $1,200 (the maximum allowable credit amount), you enter $1,200 on line 19. Example For Paying Different Rates. You paid more than one rate for child care. Your child re‑ ceived 100 days of care at $7 per day and 50 more days at $10 per day. On the Child Day Care Credit Worksheet, enter the child’s name and age in columns A and B. In columns C and D, enter 100 (days of care) and $7 (amount paid per day). For column E, calculate the amount allowed for the year, as shown here: 100 x $7 = $700 (amount allowed) For Column G, first find 40% of 700, as shown next: 0.40 x $700 = $280 (40% of $700) On the next line of the worksheet write “same child.” In column C, enter 50 for days of care. In column D, enter $8 (maximum daily amount) even though the actual amount you paid was $10. For column E, calculate the amount allowed for the year, as shown here: 50 x $8 = $400 (amount allowed) For column G, first find 40% of $400, as shown next: 0.40 x $400 = $160 (40% of $400) Then add the two partial credit amounts in column G and enter $440 (the sum) on line 19. $280 + $160 = $440 SECTION 6 Refundable Tax Credits Complete lines 23 through 25 to claim the refundable tax credits. PIT-RC RC-9 www.tax.newmexico.gov

If you are claiming only the refundable tax credits on lines 23 through 25 and no other refundable rebate or credit, follow the special procedures described next to complete PIT-RC: 1. Enter the primary taxpayer’s name on page 1 and social security number on pages 1 and 2. 2. Complete applicable lines 23 through 25. 3. On line 26, enter the total of lines 23 through 25. 4. On PIT‑1, line 24. enter the amount from PIT-RC, line 26. LINE 23. Refundable Medical Care Credit for Persons 65 or Older If you or your spouse are 65 years of age or older, and you paid unreimbursed and uncompensated medical care ex‑ penses of $28,000 or more during tax year 2023, you may claim a tax credit of $2,800. The medical care expenses can be for the care of any combination of you, your spouse, or dependents. The tax credit is allowed for non-residents with income tax responsibility to New Mexico. If you qualify for the credit, enter $2,800. Married couples filing separate returns may each claim one-half of the credit ($1400) that would have been allowed on a joint return. Additional Benefit on PIT-ADJ If you are eligible to claim the refundable medical care credit for persons age 65 years or older, you are also eligible to claim the medical care expense exemption for persons 65 years or older reported on Schedule PIT-ADJ, line 17. To claim the tax exemption, you must complete Schedule PIT-ADJ. Types of Medical Expenses Allowed The types of medical expenses that you may include are described in the instructions for PIT-1, line 16 with one ex‑ ception. You may also include the part of unreimbursed and uncompensated medical care expenses which have been included in your itemized deductions on federal Schedule A. To calculate the unreimbursed and uncompensated medi‑ cal care expenses for purposes of this credit, the following expenses may be included: • Qualified expenses used to calculate the medical care expense exemption for persons 65 years or older you reported on PIT-ADJ, line 17 • Qualified expenses used to calculate the medical care expense deduction you claimed on PIT-1, line 16 LINE 24. Special Needs Adopted Child Tax Credit If you qualify for the special needs adopted child tax credit, enter $1,000 for each special needs adopted child. If you are married filing separately, enter $500 for each child. Married individuals who file separate returns may each claim one- half of the credit. You may claim the special needs adopted child tax credit if all of the following are true: • You file a New Mexico PIT-1 return. • You are not a dependent of another taxpayer. • You adopted a special needs child. • You claimed the special needs adopted child as a de‑ pendent on your federal tax return. Definitions “Special needs adopted child” means an individual who may be over 18 years of age and who is certified by the New Mexico Children, Youth, and Families Department (CYFD) or a licensed child placement agency as meeting the definition of a “difficult to place child” pursuant to the Adoption Act. The classification is based on physical or mental impairment or an emotional disturbance that is at least moderately disabling. Attach the Certificate the First Year In the first year you claim the special needs adopted child tax credit for a qualifying adopted child, you must attach a copy of the certificate issued by CYFD or the licensed child placement agency for each qualifying adopted child. If you claimed the credit for adoption of special needs chil‑ dren for a qualifying adopted child in a prior year, you do not need to attach the supporting documentation to the return. Keep it in your files. Line 25. Child Income Tax Credit For taxable years beginning January 1, 2023 and prior to January 1, 2032, a taxpayer who is a resident and is not a dependent of another individual may apply for, and the department may allow, a credit against the taxpayer’s tax liability imposed pursuant to the Income Tax Act for each qualifying child of the taxpayer. “Qualifying child” means “qualifying child” as defined by Sec‑ tion 152(c) of the Internal Revenue Code, as that section may be amended or renumbered, but includes any minor child or stepchild of the taxpayer who would be a qualifying child for federal income tax purposes if the public assistance contrib‑ uting to the support of the child or stepchild was considered to have been contributed by the taxpayer.” To calculate the Child Income Tax Credit for PIT-RC, line 25, complete the Line 25. Worksheet for Calculating Child Income Tax Credit Married Couples Filing Separately Married individuals filing separate returns for a taxable year for which they could have filed a joint return may each claim only one-half of the Child Income Tax Credit that would have been claimed on a joint return. PIT-RC RC-10 www.tax.newmexico.gov

Line 25. Worksheet for Calculating Child Income Tax Credit 1. Enter Adjusted Gross Income from PIT-1, Line 9 2. Using Table 4, 2023 Child Income Tax Credit Income Table, find the row that includes the adjusted gross income entered on the line above. Read across to the column that shows the amount of credit per quali‑ fying child and enter amount here. If the adjusted gross income is less than zero, use the amount shown in the first row of the table. If the adjusted gross income is more than $350,000 use the amount shown in the last row of the table. 3. Enter total number of qualifying children 4. Multiply line 2 by line 3. This is your Child Income Tax Credit. Enter on PIT-RC, line 25 Table 4. 2023 Child Income Tax Credit Income Table Adjusted Gross Income from PIT-1, Line 9 Amount of credit per qualifying child is But Not Over $0 $25,000 $600 25,001 50,000 400 50,001 75,000 200 75,001 100,000 100 100,001 200,000 75 200,001 350,000 50 350,001 25 SECTION 7 Total Rebates and Credits Claimed Follow these steps to complete PIT‑RC: 1. Add the amounts, if any, on lines 14, 17c, 18c, 22, 23, 24, and 25. 2. Enter the total on line 26. 3. On PIT-1, line 24, enter the amount from PIT-RC, line 26. 4. Submit PIT-RC and any required documentation with your PIT-1 to the Department. PIT-RC RC-11 www.tax.newmexico.gov

New Mexico Taxation and Revenue Department Child Day Care Credit Worksheet First Name, Middle Initial, and Last Name Social Security Number (SSN) Purpose of this worksheet: Use the Child Day Care Credit Worksheet along with the PIT-CG, New Mexico Caregivers Statement when claiming the New Mexico Child Day Care Credit on the PIT-RC. Please print legibly using blue or black ink. Keep original forms for your records and submit copies with your PIT-1 return. You must answer both questions: (Required) 1. The child day care expenses were not reimbursed or otherwise paid by another party. (You may only claim un‑ compensated and unreimbursed child day care expenses.) True 2. Public assistance was not received under the Temporary Assistance for Needy Families, New Mexico Works Act, or a similar program during that part of the tax year for which you are claiming the credit. You may only claim child day care expenses during periods when you did not receive assistance from one of these programs. (Note: The Department checks with appropriate state agencies to verify whether you are receiving public assistance.) True INSTRUCTIONS This worksheet must be completed using the PIT-CG, New Mexico Caregiver's Statement your caregiver(s) complete. Keep in mind depending on your situation you may need to use multiple Child Day Care Credit Worksheets and PIT-CG's Important: Child Day Care Credit Worksheet and PIT-CG, New Mexico Caregiver Statement must be submitted with your PIT-1 return. Column A: Enter the name of the qualified dependent child who received day care during tax year. If you need more space, attach a worksheet in the same format. Column B: Enter the age of the child at the end of the tax year. Column C: Enter the total number of days of qualified child day care service provided for the child. Column D: Enter the amount paid per day for the child. The maximum is $8 per child per day. Only include amounts actually paid by you. Do not include amounts that were reimbursed or paid for by another party, such as your employer or the State of New Mexico. Even if you paid more than $8, only enter $8. Column E: Multiply Column C by Column D and enter the result. Column G: Multiply Column E by Column F (0.40) and enter the result, but no more than $480 per child. If the computed amount is more than $480, enter $480. Total Day Care Available: Add the amounts in Column G and enter the total in SECTION 5: NEW MEXICO CHILD DAY CARE CREDIT of your PIT-RC, amount cannot be more than $1,200. If the total amount of Column G is more than $1,200, enter $1,200. COLUMN A Name of Child COLUMN B Age of Child COLUMN C Number of days of care COLUMN D Amount paid per day not to exceed $8.00 COLUMN E Day Care Expenses Multiply Column C by Column D COLUMN F Multiply Column E by 0.40 and enter in Column G COLUMN G Available day care credit not to exceed $480/child 0.40 0.40 0.40 0.40 0.40 0.40 0.40 Total Day Care Credit Available. Enter the sum of Column G. (If you attach additional pages, enter the sum of Column G from all pages.) PIT-Childcare Rev. 07/15/2020 PIT-RC RC-12 www.tax.newmexico.gov

New Mexico Taxation and Revenue Department Caregiver's Statement First Name, Middle Initial, and Last Name Social Security Number (SSN) Purpose of this worksheet: Use the Caregiver's Statement along with the PIT-Childcare, Child Day Care Credit Worksheet when claiming the New Mexico Child Day Care Credit on the PIT-RC. Please print legibly using blue or black ink. Keep original forms for your records and submit copies with your PIT-1 return. Important: An incomplete PIT-RC or missing PIT-CG will result in the denial of the credit. Section 1: Qualifications for Individual Caregivers (Caregiver complete all fields) Name (Business Name or First Name, Middle Initial, and Last Name) NMBTIN or SSN Mailing Address City, State, and Zip Code 1. Were you, as a caregiver, age 18 or over at the time the care was performed? 2. Did you, as a caregiver, provide day care service for less than 24 hours daily? 3. Were you a dependent of the above taxpayer for whom you provided childcare services? Yes o No o Yes o No o Yes o No o Section 2: Statement of Compensation Received by Caregiver (Caregiver, complete all applicable fields) Tax Year 20____ Child 1 Child 2 Child 3 Child 4 Name: SSN: Name: SSN: Name: SSN: Name: SSN: Month No. of Days Compensation Amount Received Per Month No. of Days Compensation Amount Received Per Month No. of Days Compensation Amount Received Per Month No. of Days Compensation Amount Received Per Month January February March April May June July August September October November December Total Section 3: If Unable To Have Caregiver Complete PIT-CG (Taxpayer, complete Section 1,2, and 3) If you made all reasonable attempts to have the caregiver complete the PIT-CG schedule and you were unable to locate the caregiver or to obtain the required information, complete Section 1 and Section 2 of this schedule based on previous billings or other records. Explain below why the caregiver did not complete the statement. Signature: Both Caregiver and Taxpayer Must Sign Below I herby certify and declare that the information reported on this form and any attached supplement(s) are true and correct: Caregiver- Print Name Caregiver- Signature Date Caregiver Title Caregiver- Email Address Caregiver- Phone Number Taxpayer- Print Name Taxpayer Signature Date Instructions: The caregiver must complete the PIT-CG Sections 1 and Section 2. Both the caregiver and taxpayer must complete the Signature section. Each caregiver needs a separate PIT-CG. Note: Do not include any charges for childcare for periods of unemployment or for childcare provided either before or after work (plus any necessary travel time) or for periods the taxpayer is attending school. PIT-CG Rev. 08/10/2023 PIT-RC RC-13 www.tax.newmexico.gov

File online for free using the Department's Taxpayer Access Point (TAP) at: https://tap.state.nm.us The Department encourages taxpayers to file electronically when possible. Filing your return online allows for faster return processing which can result in quicker refunds.

General Information This section gives general information about Schedule PIT- B, Schedule of New Mexico Allocation and Apportionment of Income. Detailed instructions for completing Schedule PIT-B start on page 3B. PIT-B is for taxpayers with income from sources both inside and outside New Mexico. Schedule PIT-B provides a credit against New Mexico tax equal to the New Mexico source income divided by total income everywhere. NOTE: Qualifying residents may be eligible to claim credit for taxes paid to another state. See instructions for PIT-1, line 20 for more information. New Mexico source income is derived by allocating and ap- portioning total income. If you have income from sources both inside and outside New Mexico, attach and submit Schedule PIT-B with your PIT-1 Return. For information about a married couple filing a joint return where one spouse, but not both, is a resident of a commu- nity property state, see Information About Community and Separate Income on this page. NOTE: When both spouses are residents of community prop- erty states, or both spouses are residents of non-community property states, the special allocation and apportionment rules do not require additional instructions. Residency Definitions On PIT-1 instructions, page 4, definition of Resident, you can find definitions of the following terms: • Resident • First-year resident • Part-year resident • Non-resident. DEFINITIONS AND OTHER USEFUL INFORMATION The following topics are described next to help you complete PIT-B: • Allocated income • Apportioned income • Community income • Information about community and separate income • Allocation of community and separate income • Income and residency of military servicemember’s spouse. Allocated Income “Allocated income” means nonbusiness income reported on PIT-B, lines 1 to 7. Using the specific line instructions, base the allocation on either of the following: • The date you received the income (for example, wages, interest, or dividends of a first-year resident),or • The location of the income-earning property or activity (for example, rent and royalty income). Apportioned Income “Apportioned income” means business and farm income you report on PIT-B, line 8. Business and farm income includes income reported on federal Schedules C, C-EZ, F, or other schedules that characterize income as business-related. Business income is apportioned based on the location of the income-earning property or activity. Community Income “Community income” is income from community property acquired by persons domiciled in a community property state during the marriage. It can be either: • nonbusiness income (example, wages, salaries, divi- dends, interest, royalties, or rents), or • business income (example, Schedule C gross receipts or farm income). Married Filing Jointly. When a couple files married filing jointly, all income and payments are combined and tax is computed on the sum of all community and separate income. Married Filing Separately. When a couple files married filing separately, each spouse reports 50% of community income and all income generated from the separate property of the spouse who owns the property. When a couple’s income is not evenly divided, you must at- tach a statement showing the correct division of community and separate income and payments. When one spouse, but not both, resides in a community property state and the couple has income from sources both inside and outside New Mexico, special instructions for completing Schedule PIT-B are usually needed. For specifics and examples, see the next section. Information About Community and Separate Income The laws of the state of domicile generally govern whether you have community property and community income—or separate property and separate income—for federal and state tax purposes. Community property states are New Mexico, Arizona, California, Idaho, Louisiana, Nevada, Texas, Washington, and Wisconsin. Because New Mexico is a community property state, all assets and liabilities acquired during a marriage are the community property of both spouses, unless the property is separate property. Allocation of Community and Separate Income When one spouse, but not both, is a resident of a community property state: INSTRUCTIONS FOR 2023 PIT-B SCHEDULE OF NEW MEXICO ALLOCATION AND APPORTIONMENT OF INCOME PIT-B B-1 www.tax.newmexico.gov

• Half of the community income of the spouse who is a resident of a community property state is equally divided between both spouses, and • 100% of the separate income is treated as if it was the income of the spouse who owns the property. For your records, create a worksheet of each spouse’s in- come. Divide the community income equally between each spouse and assign 100% of separate income to the spouse who owns the separate property. Then determine the New Mexico residency status of each spouse. Based on each spouse’s New Mexico residency status, and using the line instructions, determine the correct allocation and apportionment rules to apply to the type of income for each spouse. Example 1. A New Mexico full-year resident and a Colorado resident (non-resident of New Mexico) are married and file a joint return. The New Mexico resident has wage income from employment in Texas. Because New Mexico is a community property state and the resident spouse is domiciled in New Mexico, the resident spouse’s wage income is community property. Half the wage income from employment in Texas is the property of each spouse. The instructions for PIT-B, line 1, require that half of the New Mexico resident’s wage income is allocated in full to New Mexico, even if the income was not earned in New Mexico. The non-resident spouse’s share of the community wage income is not allocated to New Mexico, because the income is not from services performed in New Mexico. Example 2. Use the same facts as Example 1, except the wage income is the separate income of the New Mexico resident spouse due to a separation agreement. All wage income is allocated to New Mexico, because the spouse entitled to the benefit of the entire amount of wage income is a resident of New Mexico. The New Mexico resident must allocate this wage income according to the line instructions for a resident taxpayer on PIT-B, line 1. Example 3. Again, use the same facts as Example 1, except wages from employment in Texas were earned by the non- resident spouse who was domiciled in Texas. Because the non-resident spouse is domiciled in a community property state, the wage income is community property. When both spouses are residents of community property states or both spouses are residents of non-community property states, special allocation and apportionment rules are not needed. Half of the community income is allocated to New Mexico, based on the instructions for the resident spouse’s share of the community income. The other half of the community income is not allocated to New Mexico, based on the instruc- tions for the non-resident spouse’s share of the community income. Example 4. If both spouses are residents of New Mexico, all community wage income is allocated to New Mexico. More Information about Community and Separate In- come For general guidance in determining whether income is community income or separate income, see the following publication: • FYI-310, Community Property, Divorce, Separation, and Your New Mexico Income Tax and • Internal Revenue Service (IRS) Publication 555, Com- munity Property. Publication FYI-310 is available at www.tax.newmexico.gov. At the top, click FORMS & PUBLICATIONS, then select FYIs from the Publications folder. Open the 300 Series- Income Taxes folder to access FYI-310. Publication 555 is available on the IRS website at www.irs.gov. Military Servicemember’s Spouse These instructions are effective beginning with tax year 2018. Income and Residency These rules apply to a military servicemember’s spouse who moves to New Mexico solely to be with the servicemember who is in the state due to military orders. They may source their non-military wages, salaries, tips and other income from services performed to their chosen state of domicile instead of the state where the income is earned. For tax purposes, this can be either the domicile state that the servicemember claims or the state in which the service- member’s spouse has established domicile. The following restrictions apply to the servicemember and spouse: • The servicemember must have declared a “domicile for purposes of withholding state income taxes from military pay” in their state of domicile. • The servicemember must be in the new state due to mili- tary orders. • The servicemember’s spouse must be in the new state solely to be with the military spouse. IMPORTANT: The servicemember continues to allocate non- military income from services performed to the state where the income was earned. New Mexico Resident Spouses If you are a New Mexico resident who is a qualifying ser- vicemember’s spouse living in another state, do both of the following: • Complete a New Mexico PIT-1 Return as a resident tax- payer. • Allocate wages, salaries, tips, and other income from ser- vices performed as if they were earned in New Mexico, even though you earned the income in another state. PIT-B B-2 www.tax.newmexico.gov

For details, see Form RPD-41348, Guidance for New Mexico Resident Military Spouses Claiming Relief From Another State’s Income and Withholding Tax Requirements on the Department website at www.tax.newmexico.gov. At the top, click FORMS & PUBLICATIONS then select the following items in this order: • Income Taxes, • Personal Income Tax (PIT) - Current Year, • Other PIT-Related Forms, then • RPD-41348 Guidance for New Mexico Resident Military Spouses Claiming Relief From Another State’s Income and Withholding Tax Requirements Non-Resident Spouses If you are a non-resident of New Mexico who is a qualifying servicemember’s spouse living in New Mexico, do all of the following: • Complete a New Mexico PIT-1 as a non-resident tax- payer. • Allocate income from services performed in New Mexico to the state of legal residency. • Mark the box at the top of PIT-B to indicate status as primary taxpayer or spouse, and qualification for relief under the Military Spouse Residency Relief Act. Part-Year or First-Year Residents If you are a part-year or first-year New Mexico resident, who is a qualifying servicemember’s spouse, allocate income from services performed in New Mexico to New Mexico during periods when you were a resident of New Mexico. If you are a military servicemember’s spouse, eligible to claim an exempt New Mexico withholding status based on the Military Spouse Residency Relief Act, you must annually submit Form RPD-41348 to your employer or payor respon- sible for withholding New Mexico tax. Keep a copy, signed by the employer or payor, in your records. Do not submit RPD- 41348 with your PIT-1 unless the Department requests it. NOTE: Your employer or payor must sign a new RPD-41348 annually, or when your situation changes. How to Prepare the PIT-B You can find out more about preparing your PIT-B, in the next sections: • Overview; • Completing the Top of Page 1; • About Line Instructions and columns; • Line Instructions for Page 1; and • Instructions for Page 2 Worksheet. OVERVIEW Follow these steps to prepare and complete Schedule PIT-B: 1. On PIT-1 instructions, page 20, read Important Guidelines. 2. Before beginning PIT-B, complete your federal return and your New Mexico PIT-1 through line 17. 3. Gather any additional forms or publications you need. For helpful resources, see PIT-1 instructions, page 1, Contacting the Department. 4. Collect any additional tax records to show the sources of your income items. Some taxpayers find it helpful to make a list identifying the source of each income item reported for federal income tax purposes. 5. Fill in your PIT-B using the line instructions that be- gin on the next page. Specific instructions for lines 1, 2, 3, and 7 apply to column 2 for different resi- dency statuses. Follow the instructions for the resi- dency status you reported on PIT-1, boxes 1e and 2e. NOTE: You can find definitions for resident, first-year resident, part-year resident, and non-resident on PIT-1 instructions, beginning on page 2, Who Must File. 6. If you have an entry on line 8, column 1, complete the worksheet on PIT-B, page 2 unless the entry on line 8, column 2 is the same as column 1 or is zero. Line instruc- tions for the worksheet begin on page 8B. 7. Check your figures on PIT-B and, if applicable, the work- sheet. Make sure the arithmetic is correct, and that you limited your entries when required. IMPORTANT: Remember that residents must allocate income and deductions on lines 1, 2, 3, and 7 in full to New Mexico. 8. Do a final check on these parts of PIT-B: • Is your correct name and social security number shown? • Is page 1 and, if applicable, page 2 complete? • Have you answered all required questions? 9. Do a final check on these lines of PIT-B and PIT-1: • You correctly transferred your tax liability from PIT-B, line 14, to PIT-1, line 18. • You entered B in the PIT-1, line 18a box to indicate you used PIT‑B to compute your tax. COMPLETING THE TOP OF PAGE 1 Enter the taxpayer’s first name, middle initial, last name, and social security number exactly as they appear on the PIT-1. Line A and B Part-year and first-year residents enter the beginning and ending date for the tax year when the taxpayer was a resi- dent of New Mexico. Line C and D If you are married filing jointly, and your spouse’s residency period is different, enter the period of residency for your spouse. NOTE: If additional periods of residency apply, write them on PIT-B in the space below the lines. Box E and F If either the primary taxpayer or spouse is a qualifying military servicemember’s spouse (see Income and Residency of Mili- tary Servicemember’s Spouse, page 2B), is not a resident of New Mexico, and is allocating income earned from services performed in New Mexico to the state of residence, at the top of PIT-B mark box E (Taxpayer) or F (Spouse). PIT-B B-3 www.tax.newmexico.gov

IMPORTANT: Marking box E or F is required to indicate qualification for relief under the Military Spouse Residency Relief Act. LINE INSTRUCTIONS AND COLUMNS These instructions are intended to make it easier for you to complete the PIT-B. No instructions are given for lines that tell you to add, subtract, or perform similar actions. Each line instruction describes the allocation and apportion- ment rules for the type of income. References to Line Numbers on Federal Forms Line number references to federal forms are for your con- venience. They are based on information available to the Department at the time these instructions go to print. Completing the Columns First complete column 1. You can usually take the amount from your federal return. Column 2 and Residency Status Because many amounts you enter in column 2 are de- termined by your residency status, make sure to use the correct residency status instructions. If you are filing a joint return, use the residency status instructions for you and your spouse. New Mexico residency status is defined on PIT-1 instructions, page 4. You report your residency status on PIT-1, page 1, lines 1e and 2e. LINE INSTRUCTIONS FOR PAGE 1 Detailed instructions for each line are given here, along with specific information about columns. Section 1: Allocation of Nonbusiness Income LINE 1. Wages, salaries, tips, etc. To calculate the credit for taxes paid to another state, see page 29 of the 2023 PIT‑1 instructions for line 20. Line 1, Column 1 Enter the amount of wages, salaries, tips, etc. from federal Form 1040 or 1040SR, line 1. Line 1, Column 2 Refer to Table B-1. Wages, salaries, tips, etc. Column 2. Payment for annual leave, sick leave, and holiday leave associated with employment or services performed in New Mexico is New Mexico income. Non-residents who work regularly in New Mexico but tem- porarily assigned to duty outside New Mexico* may use the PIT-110 Worksheet, Adjustment to New Mexico Income. You can get this worksheet from the Department website or from any Department office. NOTE: “Temporarily assigned to duty outside New Mexico” does not include partial days. If your taxable wages and other compensation include mov- ing expenses, the compensation is taxable to New Mexico only if the move is made from another state into New Mexico. Non-resident military and non-resident U.S. Public Health Service members wages or salary. Exclude from line 1, columns 1 and 2, any military wages or salary earned by a non-resident servicemember that was: • Also included in federal adjusted gross income, and • Reported on PIT-1, line 9. If you changed your domicile or residency to, or from, New Mexico during the tax year, exclude only the military salary or wages earned while a non-resident of New Mexico. If any or all non-resident wages or salaries were for active duty military service in the U.S. Armed Forces or U.S. Public Health Service, that amount is also included in the amount you deducted from your New Mexico taxable income on Schedule PIT-ADJ, lines 16 and 21 respectively. Non-resident servicemember’s non-military wages or salary. Include in line 1, columns 1 and 2, all non-military wages or salary earned from services performed in New Mexico.

Qualifying non-resident military servicemember’s spouse. A qualifying non-resident military servicemember’s Table B-1. Wages, salaries, tips, etc. Column 2. Residency Instruction Resident. New Mexico residents must allocate in full to New Mexico all amounts of wages, salaries, tips, etc. on PIT- B, line 1, column 1. If the income was earned outside New Mexico and tax was paid to the other state on that income, residents may claim a non-refundable credit for the tax paid to the other state on that income. First-year resident. Enter all wages, salaries, tips, etc. earned inside and outside New Mexico after date in which New Mexico residency was established. Part-year resident. Enter all wages, salaries, tips, etc. earned inside and outside New Mexico during the part of the year you were a resident of New Mexico. Non-resident. Enter all wages, salaries, tips, etc. earned inside New Mexico or that came from services performed in New Mexico. PIT-B B-4 www.tax.newmexico.gov

spouse who has a signed Form RPD-41348, Military Spouse Withholding Tax Exemption Statement, may allocate income earned from services performed in New Mexico to the state of residence by excluding the income in column 2. For de- tails about military servicemember’s spouse, see page B-2. Qualifying resident military service member’s spouse. A qualifying New Mexico resident military servicemember’s spouse may allocate income earned in another state to New Mexico by including the income in column 2. If you are a first-year resident or part-year resident who is a qualifying military servicemember’s spouse, you may allocate income earned from services performed in another state to New Mexico during the part of the year you were a resident by including the income in column 2. During the part of the year you were a non-resident, allocate income earned in another state from services performed in that other state by excluding it from PIT-B, line 1, column 2. LINE 1a. If you used Form PIT-110, Adjustments to New Mexico Income, in the calculation of line 1, column 2, mark the box.

LINE 2. Nonbusiness interest and dividends

Line 2, Column 1 To calculate nonbusiness interest and dividends, follow these steps: 1. Start with the amount of federal taxable interest on line 2b, and dividends on line 3b of federal Form 1040 or 1040SR. 2. If you have municipal bond income, subtract the New Mexico tax-exempt interest and dividends reported on PIT-ADJ, line 6, from the amount of federal tax-exempt dividends and interest reported on PIT-ADJ, line 1. 3. Add the amounts from steps 1 and 2. 4. Enter the result in line 2, column 1. Line 2, Column 2 Refer to Table B-2. Nonbusiness interest and dividends Column 2. Definition of Commercial Domicile “Commercial domicile” means the principal place from which the trade or business of the taxpayer is directed or managed as defined in 7-4-2(B) NMSA 1978. EXAMPLE. A taxpayer with nonbusiness interest and divi- dends derived from a 1099-INT in another state, who is con- sidered a resident, first-year resident, or part-year resident is required to allocate the nonbusiness income to New Mexico as described above on PIT-B, line 3, column 2. NOTE: Business interest on dividends should be allocated and apportioned on PIT-B, line 6 or line 8, column 2. LINE 3. Pensions, annuities, social security, and lump- sum distributions Line 3, Column 1 From your federal Form 1040 or 1040SR return, enter the total amount of taxable IRA distributions on line 4b, taxable pensions and annuities on line 5b, and taxable social security on line 6b. Include ordinary income and lump-sum distribu- tions on line 11, as reported on federal Form 4972, Tax on Lump-Sum Distributions. Line 3, Column 2 Refer to Table B-3. Pensions, annuities, social security, and lumpsum distributions Column 2. NOTE: Effective for retirement income received after Decem- ber 31, 1995, federal law prohibits any state from imposing an income tax on certain retirement income (primarily pension income) of an individual unless that person is a resident of or domiciled in the state imposing the tax. For example, if you receive a pension from your former Cali- fornia employer, but you established your domicile in New Mexico, California may not impose its income tax on that retirement income. New Mexico may impose its income tax on your retirement income, because you are a New Mexico resident. Table B-2. Nonbusiness interest and dividends Column 2. Residency Instruction Resident. New Mexico residents must allocate in full to New Mexico all amounts of nonbusiness interest and divi- dends on PIT-B, line 2, column 1. If you are a resident and you paid tax on that income to another state, you may claim a non-refundable credit for the tax paid to the other state on that income. To calculate the credit for taxes paid to another state, see page 30 of the 2023 PIT‑1 instructions for line 20. First-year resident. Enter the amount of nonbusiness interest and dividends you received after establishing your residence in New Mexico. To determine when you received nonbusiness interest and dividends, use the date they were payable. Part-year resident. Enter the amount of nonbusiness interest and dividends you received while a resident of New Mexico. To determine when you received nonbusiness interest and dividends, use the date they were payable Non-resident. Non-residents with no commercial domicile in New Mexico, enter zero. If you operate a business with a commercial domicile in New Mexico, allocate to New Mexico any nonbusiness interest and dividend income from your New Mexico operations. PIT-B B-5 www.tax.newmexico.gov

LINE 4. Rents and royalties All taxpayers with income from real property (including rents and royalties from oil and gas interests), tangible personal property, or intangibles located or used in New Mexico must allocate and apportion the income or loss based on the lo- cation of the income-earning property. Intangibles are listed next and definitions for the use of copyrights and patents follow, along with an example. Intangibles are the following: • Copyrights; • Patents; • Franchises; • Trademarks; and • Licenses. Copyright. A copyright is used in New Mexico when printing or other production takes place in New Mexico. Patent. A patent is used in New Mexico when it is employed in production, fabrication, manufacturing, or other processing in New Mexico or when a patented product is produced in New Mexico. EXAMPLE. If rental property is located in New Mexico, include the income on PIT-B, line 4, column 2. If you report income from real property, tangible personal property, or intangibles on federal Schedule C or similar business income schedules, show that income on PIT-B, line 8, not line 4. Line 4, Column 1 Enter the net amount of rents and royalties from your federal Schedule E. Line 4, Column 2 All taxpayers. Start with the net amount of rents and royal- ties from all of the following New Mexico sources: • Rents from real property located in New Mexico • Rents from tangible personal property located or used in New Mexico • Income from royalties and working interests in oil and gas producing properties located in New Mexico • Income from patents, copyrights, franchises, trademarks, and licenses used in New Mexico In addition to these sources, residents allocate income from intangible and tangible personal property used in another state if the New Mexico resident is not subject to tax on the income in the other state. First-year residents and part- year residents allocate the income described above to New Mexico if the income was earned during a part of the year that the individual was a resident of New Mexico. Allocating rental or royalty income on tangible personal property. If you do not know the extent to which tangible personal property was used in New Mexico, follow these steps to calculate the entry for line 4, column 2: 1. Find these numbers to use in your calculation: • Number of days the property was physically located in New Mexico during the rental or royalty period • Number of days the property was physically located everywhere during the rental or royalty period • Total amount of rents and royalties received for the tax year 2. Divide the days in New Mexico by the days everywhere. This gives you the percentage of time the property was located in New Mexico. 3. Multiply the total rents and royalties received for the tax year by the percentage in step 2. 4. Enter the step 3 result on line 4, column 2. EXAMPLE. An out-of-state taxpayer rents a drilling rig to a New Mexico taxpayer. The drilling rig is in New Mexico for 90 days. The rig is rented for a total of 270 days during the tax year in several states. The total rents and royalties everywhere are $25,000,000. The calculation for the line 4, column 2 entry is shown next. Table B-3. Penstions, annuities, social security, and lumpsum disributions Column 2. Residency Instruction Resident. New Mexico residents must allocate in full to New Mexico all amounts of pensions, annuities, social security, and lump-sum distributions on PIT-B, line 3, column 1. If you are a resident and you paid tax on that income to another state, you may claim a non-refundable credit for the tax paid to the other state on that income. To calculate the credit for taxes paid to another state, see page 29 of the 2023 PIT‑1 instructions for line 20. First-year resident. Add the following and enter the total: • Pension and annuity amounts you received after establishing residence in New Mexico, plus • The ordinary income portion of any lump-sum distribution from federal Form 4972 you earned the right to receive while a New Mexico resident. Part-year resident. Add the following and enter the total: • The portion of pensions and annuities you received while you were a resident of New Mexico, plus • The ordinary income portion of any lump-sum distribution from federal Form 4972 you earned the right to receive while a New Mexico resident.

Non-resident. Enter zero. Pension and annuity income of a non-resident are not allocated to New Mexico. PIT-B B-6 www.tax.newmexico.gov

90 days located in NM ÷ 270 total days everywhere = 33.3% percent of time in NM x $25,000,000 rents/royalties everywhere The result is the rent and royalty income allocable to New Mexico. Enter this amount on line 4, column 2. What to do in special cases. If you cannot determine the location of the tangible personal property during the rental or royalty period, enter the rental or royalty income from those in New Mexico to whom the property was delivered. On line 4, column 2, enter the total rental or royalty income for the tangible personal property shown in line 4, column 1. If you are a resident of New Mexico, or if the business deriv- ing the income has a commercial domicile in New Mexico, you may come across these situations: • The basis for earnings from intangibles used in New Mex- ico and elsewhere does not permit allocation to a definite state. • The accounting procedures do not clearly show the state or states where the intangible was used. In either of these situations, enter the total income from all intangibles. LINE 5. Gains or losses from the sale or exchange of property Line 5, Column 1 Enter the net amount of gains or losses from the sale or exchange of property from your federal Schedule 1. All taxpayers with income from the sale or exchange of property allocate and apportion the income or loss on line 5, column 1, based on the location of the income-earning prop- erty or activity. If a gain is realized on the sale of real property located in New Mexico, include the income in column 2. Line,5, Column 2 Enter the net amount of a gain or loss from the sale or ex- change of any of the following: • Real property located in New Mexico; • Tangible personal property located in New Mexico at the time of sale; • Tangible personal property located in another state at the time of sale, if the taxpayer is a New Mexico resident or part-year resident (see the residency definitions in PIT- 1 instructions); • Tangible personal property of a business located in another state at the time of sale when the taxpayer is not subject to tax in that state, the taxpayer’s commercial domicile is in New Mexico, and the income is not subject to apportionment on line 8; and • Intangible personal property, if the taxpayer is a New Mexico resident, part-year resident, or has a commercial domicile in New Mexico, and the income is not subject to apportionment on line 8. LINE 6. Income or losses from pass-through entities Use this line to allocate and apportion to New Mexico income or losses from pass-through entities and trusts. Allocate dis- tributions of ordinary income (losses) to partners, members or owners of partnerships, limited liability companies, and Sub-Chapter S corporations, based on where the income- producing activities occur. Business interest and dividends should be allocated and apportioned on this line. NOTE: Nonbusiness interest and dividends should be al- located and apportioned on PIT-B, line 2. Distributions of ordinary income or losses to partners, mem- bers, or owners of partnerships, limited liability companies, and Sub-Chapter S corporations are allocated on PIT-B, line 6, based on where the income producing activities occur. Distributions of other nonbusiness income is allocated on the remainder of PIT-B, based on the type of income and the residency status of the partner, member, or owner. NOTE: Federal Schedules E and K-1 may include income from both business and non-business sources. New Mexico does not have a form equivalent to Schedule K-1. Each part- nership, S corporation, estate, trust, or similar pass-through entity usually provides a statement or report showing the correct allocation, apportionment, and distribution of income to members, partners, shareholders, or beneficiaries for their records. Line 6, Column 1 From your federal Schedule E, enter your share of income or losses from pass-through entities, including partnerships, S corporations, estates, trusts, or limited liability companies. EXAMPLE. A taxpayer with business interest and dividends derived from a K-1 from another state would allocate that income on PIT-B, line 6, column 1 because the income is considered business related income. Line 6, Column 2 Use the information from the pass-through entity or trust to complete this column. Enter the portion of column 1 income allocated and apportioned to New Mexico by the pass- through entity or the trust. NOTE: Amounts reported on this line should include busi- ness interest and dividends allocable to New Mexico if the taxpayer’s commercial domicile is in New Mexico. NOTE: All income that a pass-through entity or a trust allocates or apportions to New Mexico is taxable in New Mexico. Income from pass-through entities and trusts must be allocated or apportioned under the Uniform Division of Income for Tax Purposes Act (UDIPTA). If the pass-through entity or trust does not provide the neces- sary New Mexico apportionment percentages or information necessary to calculate a percentage, New Mexico presumes PIT-B B-7 www.tax.newmexico.gov

that all distributive amounts from the pass-through entity or trust is New Mexico-source income. NOTE: If a New Mexico resident is required to allocate 100% of their income to New Mexico based on the above presumption, a Credit for Taxes Paid to another state may be taken. See PIT-1, Line 20 instructions for more information. LINE 7. All other income not included in lines 1 through 6 and line 8 Line 7, Column 1 Enter the total of all other income shown on your federal Schedule 1, line 8 and not reported in another section of PIT- B. Do not enter business and farm income reported on line 8. IMPORTANT: Do not enter a net operating loss carryforward on PIT-B, line 7. Line 7, Column 2 Refer to Table B-7. All other income not included in lines 1 though 6 and line 8 Column 2. IMPORTANT: You may not offset income from gambling winnings from a New Mexico source with gambling losses on PIT-B. Regardless of your residency status, you must report gambling winnings from a New Mexico source. NOTE: Income from unemployment compensation is al- located to the recipient’s state of residence at the time the payment was received, regardless of the state paying the unemployment compensation benefit. Section 2: Apportionment of Business and Farm Income LINE 8. Business and farm income To apportion income from business and farm sources, use the Worksheet for Apportionment of Business and Farm Income on PIT-B, page 2. New Mexico uses an evenly weighted three-factor formula for all taxpayers, with these exceptions: • Certain electing manufacturers allowed an optional for- mula to have their business income apportioned to New Mexico using a single weighted sales factor, or • Businesses allowed or required to eliminate one or more factors because the three-factor formula does not fairly represent the extent of their business activity in New Mexico. For more information, see Instructions for Page 2, Worksheet for Apportionment of Business and Farm Income later in this section. Line 8, Column 1 Enter the total business and/or farm income reported on your federal Schedules C, F, or other similar schedules. Line 8, Column 2 If all of your income in column 1 is from New Mexico sources, enter the entire amount in column 2. If none of your income in column 1 is from New Mexico sources, enter zero. If you have income from a farm or business earned in New Mexico and one or more other states, follow these steps: 1. Complete the worksheet on PIT-B, page 2, lines 1 to 5. 2. Multiply the amount on PIT-B, line 8, column 1 by the decimal amount on the worksheet, line 5. 3. Enter the result on PIT-B, line 8, column 2. If line 8, column 1 includes income for multiple businesses or farms, and the total includes income allocated both inside and outside New Mexico, do the following: 1. Using a separate PIT-B, page 2 worksheet for each busi- ness or farm, complete a worksheet for each business or farm. 2. On line 8, column 2, summarize the amounts allocated to New Mexico. See the worksheet instructions. 3. Attach a PIT-B, page 2 worksheet for each business or farm to your PIT-1 return along with PIT-B, page 1. For more information, see the Instructions for Page 2, Work- sheet for Apportionment of Business and Farm Income later in this section. NOTE: No business may use a separate accounting method. LINE 9. Add lines 1 through 8 and enter the amount here. Table B-7. All other income not included in lines 1 though 6 and line 8 Column 2. Residency Instruction Resident. Enter the same amount you entered in column 1. On line 7, you must allocate in full to New Mexico all other income not included in lines 1 to 6 and line 8 amounts. If you paid tax to another state on any of your other income, you may claim a non-refundable credit for the tax paid to the other state on that income. To calculate the credit for taxes paid to another state, see page 29 of the 2023 PIT‑1 instructions for line 20. First-year resident. Enter all other income earned from New Mexico sources before establishing New Mexico residency, and all other income earned, regardless of source, after establishing New Mexico residency. Part-year resident. Enter all other income earned, regardless of source, while you were a New Mexico resident, and all other income earned from New Mexico sources. Non-resident. Enter the portion of column 1 earned from sources in New Mexico. PIT-B B-8 www.tax.newmexico.gov

Line 9, Column 1 Enter the total of lines 1 through 8, Column 1. Line 9, Column 2 Enter the total of lines 1 through 8, Column 2. LINE 10. Federal adjustments to income Line 10, Column 1 Enter the total federal adjustments to income from your federal Schedule 1, line 22. Line 10, Column 2 To calculate the allowable New Mexico adjustment to income PIT-B, line 10, column 2 ,complete the Line 10, Column 2 Worksheet for Calculating Allowable New Mexico Adjustment to Income. Do not attach this worksheet to your PIT-B. Line 10, Column 2 Worksheet for Calculating Allowable New Mexico Adjustment to Income 1. Enter the amount from line 9, column 2 from PIT-B 2. Enter the amount from line 9,column 1 from PIT-B 3. DIVIDE the amount on line 1 by the amount on line 2 4. MULTIPLY the amount on line 3 by 100 and enter 5. ROUND the percentage on line 4 to four decimal places (for example 26.6270%) 6. Enter the amount from line 10, column 1 from PIT-B 7. MULTIPLY the amount on line 5 by the amount on line 6. Enter on PIT-B, line 10 column 2 LINE 11. Total income Line 11, Column 1 Line 9, Column 1 minus Line 10, Column 1. Line 11, Column 2 Line 9, Column 2 minus Line 10, Column 2. For most taxpayers, total income on line 11, column 1 must equal or exceed the amount on PIT-1, line 9, Federal Ad­ justed Gross Income. If yours does not, check your figures IMPORTANT: If you are a non-resident member of the U.S. Armed Forces or a non-resident member of the U.S. Public Health Service, reporting military wages or salary, complete line 11 as instructed. Calculations for PIT-B, line 1 may make your total income on line 11, column 1 less than the federal adjusted gross income you reported on your PIT-1, line 9. This is not an error. LINE 12. Divide amounts on line 11 Calculate the percentage of New Mexico income to enter on line 12 by following these steps: 1. Divide the amount on line 11, column 2 by the amount on line 11, column 1. Multiply by 100. 2. Round to four decimal places and enter the result on line 12. This percentage cannot be less than zero. NOTE: If the New Mexico percentage is over 100% due to loss allocation, enter 100.0000. LINE 13. Tax applicable to PIT-1 Calculate the New Mexico income tax to allocate for your line 12 entry by following these steps: 1. Calculate the tax due on the New Mexico taxable income reported on PIT-1, line 17, using the tax rate tables. 2. Calculate the tax, if any, on the lump-sum distributions from PIT-1, line 19. 3. Add the amounts from steps 1 and 2, and enter the total on PIT-B, line 13. NOTE for PIT-1: If you used PIT-B to calculate the New Mexico tax liability on your PIT-1, and also computed tax on a lump-sum distribution on PIT-1, line 19, do not add lines 18 and 19 when completing PIT-1, line 22, as instructed on line 22. When completing PIT-1, line 22, do not add back the ad­ ditional amount of tax for lump-sum distributions on PIT-1, line 19. Line 19 was included in your PIT-B percentage calculation. Add only line 18, then subtract lines 20 and 21. LINE 14. Apportioned tax Multiply the percentage on line 12 by the tax on line 13. This is your allocated New Mexico income tax liability. Enter this amount on PIT‑B, line 14. For your PIT-1, do the following: 1. On PIT-1, line 18, enter the amount from PIT-B, line 14. 2. In the box on line 18a on PIT-1, enter B to show the tax calculation comes from PIT-B. INSTRUCTIONS FOR PAGE 2, WORKSHEET FOR AP­ PORTIONMENT OF BUSINESS AND FARM INCOME Who Must Complete This Worksheet Complete if you have business or farm income reported on Line 8, Column 1 from both inside and outside New Mexico. Complete all items on the worksheet on PIT-B, page 2. When you submit your return, attach: • The page 2 worksheet to PIT-B, page 1; and • Both page 1 and the page 2 worksheet of PIT-B to your PIT-1 return. NOTE: If you have multiple businesses or farms on line 8, column 1, and the total includes income allocated from both inside and outside New Mexico, complete a separate PIT- B, page 2 worksheet for each business or farm. On line 8, column 2 enter the total amounts allocated to New Mexico. IMPORTANT: You may not use a separate page formatted the same as the PIT-B, page 2 worksheet instead of attach­ PIT-B B-9 www.tax.newmexico.gov

ing multiple pages of page 2. Three-Factor Apportionment Formula New Mexico uses an evenly weighted three-factor appor- tionment formula. The three factors are property, payroll, and sales. property factor + payroll factor + sales factor 3 The three-factor formula is for all taxpayers except for the following exclusions: • Exclusion 1. Qualifying manufacturers who elect to use the special manufacturers apportionment formula, or • Exclusion 2. A taxpayer whose principal business activ- ity in New Mexico is a headquarters operation and who elects to use the single weighted sales factor apportion- ment formula, or • Exclusion 3. Allowed or required to eliminate one or more factors because the three-factor formula does not fairly represent the extent of their business activity in New Mexico. Each exclusion is described next as Exclusions 1, 2 and 3. Exclusion 1 Electing Manufacturers Apportionment Formula Taxpayers whose principal activity is manufacturing may elect to use a special apportionment formula. For tax years beginning on or after January 1, 2014, the election al- lows taxpayers to apportion the business income to New Mexico using a single weighted calculation by dividing total sales within New Mexico by total everywhere sales. On or after January 1, 2020, if eighty percent or more of the New Mexico numerators of the property and payroll factors for a filing group, or for a taxpayer that is not a member of a filing group, are employed in manufacturing or operating a computer processing facility, the filing group or the tax- payer may elect to have business income apportioned to this state by multiplying the income by the sales factor for the taxable year. The statutory authority for this elective method is in Section 7-4-10(B) NMSA 1978. Definition of Manufacturing “Manufacturing” means combining or processing components or materials to increase their value for sale in the ordinary course of business,but does not include: a. construction; b. farming; c. power generation; provided that for taxable years begin- ning prior to January 1, 2024, “manufacturing” includes electricity generation at a facility that does not require location approval and a certificate of convenience and necessity prior to commencing construction or operation of the facility pursuant to the Public Utility Act; d. processing natural resources, including hydrocarbons; or e. processing or preparation of meals for immediate consumption. How to Make the Election To elect to use the manufacturers apportionment formula, you must notify the Department in writing no later than the filing date of the first return to which your election applies. Submit your notification to make your election or to terminate your election to: Taxation and Revenue Department CIT Correspondence Unit P.O. Box 630 Santa Fe, NM 87504-0630 For assistance, call (505) 827-0825 or toll free: (866) 809- 2335, option 4. Or, e-mail: CIT.taxreturnhelp@tax.nm.gov Election Period: If the election is made for taxable years beginning prior to January 1, 2020, it applies to the taxable year in which the election is made and to each taxable year thereafter for three years, or until the taxable year ending prior to January 1, 2020, whichever is earlier. Elections made for a taxable year beginning on or after Janu- ary 1, 2020, apply to the taxable year in which the election is made and to each taxable year thereafter until the tax- payer notifies the department, in writing, that the election is terminated, except that the taxpayer shall not terminate the election until the method of apportioning business income has been used by the taxpayer for at least three consecutive taxable years, including a total of at least thirty-six calendar months. Exclusion 2 Electing Headquarters Operation Apportionment Formula Taxpayers whose principal business activity in New Mexico is a headquarters operation may elect to use a single weighted sales factor apportionment formula. For tax years beginning on or after January 1, 2014, the election allows the taxpayer to apportion the business income to New Mexico using a single weighted calculation by dividing total sales within New Mexico by total everywhere sales. On or after January 1, 2020, if a filing group, or a taxpayer that is not a member of a filing group, has a headquarters operation in New Mexico, the filing group or the taxpayer may elect to have business income apportioned to this state by multiplying the income by the sales factor for the taxable year. The statutory authority for this elective method is in Section 7-4-10(C) NMSA 1978. Definition of Headquarters Operation “Headquarters operation” means: 1. the center of operations of a business: a. where corporate staff employees are physically employed; b. where centralized functions are performed, includ- ing administrative, planning, managerial, human PIT-B B-10 www.tax.newmexico.gov

resources, purchasing, information technology and accounting, but not including a call center; c. the function and purpose of which is to manage and direct most aspects and regional headquarters if the national headquarters is subordinate only to the own- ership of the business or its representatives and the regional headquarters is subordinate to the national headquarters; or 2. the center of operations of a business: a. the function and purpose of which is to manage and direct most aspects of one or more centralized func- tions; and b. from which final authority over one or more central- ized functions is issued. How to Make the Election To elect to use the headquarters operation apportionment formula, you must notify the Department in writing no later than the filing date of the first return to which your election applies. Submit your notification to make your election or to terminate your election to: Taxation and Revenue Department CIT Correspondence Unit P.O. Box 630 Santa Fe, NM 87504-0630 For assistance, call (505) 827-0825 or toll free: (866) 809- 2335, option 4. Or, e-mail: CIT.taxreturnhelp@tax.nm.gov Election Period: If the election is made for taxable years beginning prior to January 1, 2020, it applies to the taxable year in which the election is made and to each taxable year thereafter for three years, or until the taxable year ending prior to January 1, 2020, whichever is earlier. Elections made for a taxable year beginning on or after Janu- ary 1, 2020, apply to the taxable year in which the election is made and to each taxable year thereafter until the tax- payer notifies the department, in writing, that the election is terminated, except that the taxpayer shall not terminate the election until the method of apportioning business income has been used by the taxpayer for at least three consecutive taxable years, including a total of at least thirty-six calendar months. Use the instructions below to calculate the apportionment percentage on PIT-B, line 5. Complete the property factor and payroll factor information in column 1 and column 2. Although an election for a single weighted formula has been made, this information is still necessary. The percentage factors for property and pay- roll are not included in the calculation of the Average New Mexico Percentage. Compute the sales factor on line 3. Transfer the amount in line 3 to line 5. Exclusion 3 Eliminating one or more factors. If the allocation and apportionment provisions of the Uniform Division of Income for Tax Purposes Act do not fairly repre- sent the extent of your business activity in New Mexico, an election may be made for, or the Department may require, the exclusion of any one or more insignificant factors. A factor is considered insignificant if column 1 (the denominator) is less than 3% of net income. Top of Worksheet Enter the primary taxpayer’s social security number, the name of the business for which you are completing this worksheet, and either the FEIN (Federal Employer Iden- tification Number) or NMBTIN (New Mexico Business Tax Identificaiton Number). PROPERTY FACTOR The property factor is based on the average value of real and tangible personal property you owned or rented and used in New Mexico for the production of business or farm income during the tax period. LINE 1a. To determine the average value of real and tangible personal property, use the following rules: • Property you owned during the tax period is valued at its original cost. Original cost is the basis of the property for federal income tax purposes (before federal adjust- ments) at the time you acquired the property. This cost is adjusted by subsequent capital additions, improvements, or partial dispositions. • Property you rented from others and used for business or farm purposes is valued at eight times the net annual rental rate. The net annual rental rate is the annual rent you paid, less any annual rent you received from subren- tals of the same property. • Determine the average value of property by adding the total value of property you held at the beginning of the tax period to the total value of property held at the end of the tax period. Then divide by two. • You may calculate an average value on a monthly basis. If the Department determines that a monthly average is necessary to correctly reflect the average value of your property, the Department may require you to calculate an average value on a monthly basis Column 1 Enter the average value of property for everywhere, includ- ing New Mexico. Column 2 Enter the average value of property for New Mexico only. LINE 1b. The property factor is a percentage. To calculate the percentage. This can be determined by dividing line 1a, column 2 by line 1a, column 1. Amount in Line 1a, Column 2 Amount in Line 1a, Column 1 PIT-B B-11 www.tax.newmexico.gov

*Round each percentage to four decimal places (example: 26.6270%) NOTE: Residents who use their homes in any way in a busi- ness or farm operation have a property factor in New Mexico. PAYROLL FACTOR The payroll factor is based on the amount of compensation you paid. LINE 2a. If any one of the following conditions is present, compensation was paid in New Mexico: • The employee’s service was performed entirely in New Mexico. • The employee’s service was performed both inside and outside New Mexico, but service performed outside New Mexico was incidental to service performed inside New Mexico. • Some of the employee’s service was performed in New Mexico, and New Mexico was the base of operations or the place from which the service was directed or con- trolled. • Some of the employee’s service was performed in New Mexico, and the employee was a resident of New Mexico during the tax period. In this case, it does not matter if some of the employee’s service was performed in another state that was the base of operations or the place from which the service was directed or controlled. LINE 2b. The payroll factor is a percentage determined by dividing the amount in column 2 by the amount in column 1, Amount in Column 2 Amount in Column 1 • Column 1 is the total amount paid as compensation to employees everywhere during the tax period. • Column 2 is the total amount paid as compensation to employees in New Mexico during the tax period. SALES FACTOR “Sales” means all gross receipts from transactions and activi- ties in the regular course of business. “Gross receipts” means all income from transactions and activities in the regular course of business including income from licensing intangible personal property. Sales of tangible personal property are New Mexico sales if either of the following is true. The property is: • Delivered or shipped to a purchaser other than the U.S. government within New Mexico regardless of the FOB (free on board) point or other conditions of the sale, or • Shipped from an office, store, warehouse, factory, or oth- er place of storage in New Mexico, and • The purchaser was the U.S. government, or • The taxpayer: • is not taxable in the state of the purchaser, and • did not make an election for apportionment of busi- ness income pursuant to Subsection B or C of Sec- tion 7-4-10 NMSA 1978 Sales other than sales of tangible personal property are New Mexico sales if any of the following are true: • In the case of sales, rental, lease or license of real prop- erty, if and to the extent the real property is located in this state; • In the case of rental, lease or license of tangible personal property, if and to the extent the tangible personal prop- erty is • located in this state; • In the case of sale of a service, if and to the extent the service is delivered to a location in this state, and • In the case of sale, rental, lease or license of intangible property, if and to the extent the intangible property is used in this state. • Special rule: Gross receipts for the performance of per- sonal services are attributable to this state to the extent such services are performed in this state. LINE 3a Column 1 Enter the total sales everywhere, excluding non-business income. Column 2 Enter the total sales in New Mexico, excluding non-business income. Line 3b. The sales factor is a percentage determined by dividing the amount in column 2 by the amount in column 1. Amount in Column 2 Amount in Column 1 LINE 4. Enter the total of lines 1b, 2b and 3b. Line 4a. Count all the factors you used and enter the total count here. LINE 5. Apportionment Percentage To calculate the apportionment percentage: 1. Divide line 4 by the number of factors you entered on line 4a. 2. Multiply this percentage by the amount on PIT-B, line 8, column 1. 3. Enter the result on PIT-B, line 8, column 2. In the rectangular box at the bottom of the worksheet, enter the effective date of your election to use the three-factor method in MM/DD/CCYY format. For example, if the effective date was January 04, 2023, enter 01/04/2023. If you are eliminating one or more insignificant factors, use the number of significant factors to calculate the appor- tionment percentage on line 5. If you include an insignificant factor, attach an explanation. PIT-B B-12 www.tax.newmexico.gov

INSTRUCTIONS FOR 2023 PIT-D SCHEDULE FOR NEW MEXICO VOLUNTARY CONTRIBUTIONS Donating Money From Your Refund When your PIT-1 Return shows an overpayment and you are due a refund, and you want to donate all or part of your refund to a special fund, use PIT‑­D, Schedule for New Mexico Voluntary Contributions. The funds you can choose are listed on the schedule and described here. If you want to contribute to any funds, com- plete and attach Schedule PIT-D to your PIT-1. Requirements Your total PIT-D contribution may not be more than the amount of your refund. The Taxation and Revenue Department deducts your total contribution from your refund and then transfers it to the fund(s) you choose. On a joint return, both individuals must agree to all contributions. Changes Not Allowed Carefully consider your contributions. If you change your mind, you cannot change your contributions and the Depart- ment cannot refund them to you. IMPORTANT: You also cannot change contributions on an amended return. Not Due A Refund? If you are not due a refund but want to contribute to one or more funds, please send your contributions directly to the address shown in the fund’s contact information. Do not send contributions to the Department. LINE INSTRUCTIONS The line instructions describe each fund you can select for contributions. At the end of each description is the contact information for each fund. Showing the Amount to Contribute to a Fund On the PIT-D line for the fund, enter the dollar amount you want to contribute. IMPORTANT: Make sure the total contribution of all funds you choose for contributions is equal to or less than the amount of your overpayment amount from PIT-1, line 39. LINE 1. Overpayment Enter the overpayment amount from your PIT-1, line 39. LINE 2. New Mexico Housing Trust Fund The New Mexico Mortgage Finance Authority administers the fund to provide flexible funding for housing initiatives that will provide affordable housing primarily for persons or households of low or moderate income. To learn more visit www.housingnm.org. Contact: New Mexico Mortgage Finance Authority 344 Fourth St. SW Albuquerque, NM 87102 Phone: (505) 843-6880 or toll free (800) 444-6880. LINE 3. Share with Wildlife This program, administered by the New Mexico Department of Game & Fish, helps non-game or endangered species. Donations directly benefit wildlife through research, habitat enhancement, public education, and wildlife rehabilitation. Information on Share with Wildlife projects is available online at http://www.wildlife.state.nm.us/conservation/share-with- wildlife/. Contact: Share with Wildlife 1 Wildlife Way Santa Fe, NM 87507 Phone: (505) 476-8111 or (888) 248-6866 LINE 4. Veterans’ State Cemetery Fund The New Mexico Department of Veterans Services admin- isters this fund to increase the size of the Santa Fe National Cemetery. When total contributions exceed $1,070,000, the fund will send proceeds over that amount to the Santa Fe State Cemetery Fund. Contact: New Mexico Department of Veterans Services 407 Galisteo Street, Room 142 Santa Fe, NM 87504 P.O. Box: New Mexico Department of Veterans Services P.O. Box 2324 Santa Fe, NM 87501 Phone: (505) 827-6300. LINE 5. New Mexico Substance Abuse Education Fund The New Mexico Public Education Department administers the fund for substance abuse education programs in New Mexico schools. IMPORTANT: If your total contribution is more than the overpayment amount from PIT-1, line 39, the Department cannot deduct any contributions. PIT-D D-1 www.tax.newmexico.gov

Contact: New Mexico Public Education Department Coordinated School Health and Wellness Bureau 120 S. Federal Place, Room 206 Santa Fe, NM 87501 Phone: (505) 827-1804 or (505) 827-1821 LINE 6. New Mexico Forest Re-Leaf Program The Forestry Division of the New Mexico Energy, Minerals and Natural Resources Department administers this fund through the Conservation Planting Revolving Fund. Dona- tions support an environmental education grant program to plant trees on public lands in New Mexico communities. Contact: New Mexico Energy, Minerals and Natural Resources Department New Mexico Forestry Division 1220 South St. Francis Drive Santa Fe, NM 87505 Phone: (505) 476-3332 or (505) 476-3325 LINE 7. National Guard Member and Family Assistance Contributions are distributed to the Department of Military Affairs to assist members of the New Mexico National Guard, and their families. There is no requirement for the member to have been deployed overseas or be activated for overseas service. Contact: Department of Military Affairs 47 Bataan Blvd. Santa Fe, NM 87508 Phone: CFO at (505) 474-1909 or Director at (505) 474-1887 LINE 8. Kids ’n Parks Transportation Grant Program Contributions go to field trip costs for children. The State Parks Division of the New Mexico Energy, Minerals and Natu- ral Resources Department administers this grant program. Contact: New Mexico Energy, Minerals and Natural Resources Department New Mexico State Parks Division 1220 South St. Francis Drive Santa Fe, NM 87505 Phone: (505) 476-3386, or (888) 667-2757 LINE 9. Amyotrophic Lateral Sclerosis Research Fund The fund is appropriated to the Board of Regents of the Uni- versity of New Mexico for amyotrophic lateral sclerosis (Lou Gehrig’s disease) research. Money in the fund at the end of a fiscal year reverts to the State General Fund. Contact: UNM School of Medicine Office of Advancement and Alumni Relations MSC 08 4720, BMSB 187 1 University of New Mexico Albuquerque, NM 87131-0001 Phone: (505) 272-5112 or (505) 272-9855 LINE 10. Vietnam Veterans Memorial Contributions are distributed to the New Mexico Department of Veterans Services for the operation, maintenance, and improvement of the Vietnam Veterans Memorial near Angel Fire, New Mexico. Contact: New Mexico Department of Veterans Services 407 Galisteo Street, Room 142 Santa Fe, NM 87504-2324 P.O. Box: P.O. Box 2324 Santa Fe, NM 87501 Phone: (505) 827-6300. LINE 11. New Mexico Political Parties You may contribute $2 to any state political party. If you file a joint return, each spouse may contribute $2 to a political party. Box 11a: Your Donation Enter a number from 1 to 6 to indicate the state political party for your donation. Box 11b: Spouse’s Donation Enter a number from 1 to 6 to indicate the state political party for your spouse’s donation. Line 11: Total Contribution Enter the total amount of your political party contribution ($2, or $4). If no contributions are selected, leave the line blank. LINE 12. Veterans Enterprise Fund Contributions help carry out programs, duties, or services of the Department of Veterans’ Services. Contact: New Mexico Department of Veterans Services 407 Galisteo Street, Room 142 PIT-D D-2 www.tax.newmexico.gov

Santa Fe, NM 87504-2324 P.O. Box: P.O. Box 2324 Santa Fe, NM 87501 Phone: (505) 827-6300 LINE 13. Lottery Tuition Fund Contributions provide tuition assistance for New Mexico resident undergraduates. Contact: Financial Aid Manager New Mexico Higher Education Department 2044 Galisteo Street, Suite 4 Santa Fe, NM 87501-2100 Phone: (505) 476-8410 LINE 14. Equine Shelter Rescue Fund Contributions are distributed to the Equine Shelter Rescue Fund. The fund helps equine rescue and retirement facili- ties, registered by the New Mexico Livestock Board, care for homeless equines in New Mexico. The New Mexico Livestock Board administers this fund. Contact: New Mexico Livestock Board 300 San Mateo Blvd. NE, Suite 1000 Albuquerque, NM 87108-1500 Phone: (505) 841-6161 LINE 15. Animal Care and Facility Fund Contributions are paid to the Animal Care and Facility Fund to carry out the statewide cat and dog spay and neuter program. LINE 16. Supplemental Senior Services Seniors with the greatest needs statewide receive services through these contributions to the Aging and Long-Term Services Department. Contact: Aging and Long-Term Services Department P.O. Box 27118 Santa Fe, NM 87502-7118 Phone: (505) 476-4799 LINE 17. Healthy Soil Fund Contribution to the Board of Regents New Mexico State University to support the healthy soil program in the New Mexico Department of Agriculture. Contact: New Mexico Department of Agriculture 3190 S. Espina Las Cruces, New Mexico 88003 Phone: (575) 646-3007 LINE 18. Total of Voluntary Fund Contributions Add lines 2 through 17. Enter this total on line 40 of your PIT-1 return. PIT-D D-3 www.tax.newmexico.gov

INSTRUCTIONS FOR 2023 PIT-CR NEW MEXICO BUSINESS-RELATED INCOME TAX CREDIT SCHEDULE GENERAL INFORMATION New Mexico tax law offers the business-related income tax credits listed on 2023 PIT‑CR, New Mexico Business-Related Income Tax Credit Schedule. These credits may be applied against personal income taxes due. If none of the credit types on Schedule PIT-CR apply to you, do not complete this schedule. Each credit type is described in these instructions along with how to claim the credit and other applicable information. For example, carryforward time frames are given for the credits that let you carry forward an excess. The following credits may be partially refunded if the credit exceeds the personal income tax liability due on your return: • Film Production Tax Credit; • New Film Production Tax Credit; • New Mexico Film Partner New Film Production Tax Cred- it; • Renewable Energy Production Tax Credit; • New Solar Market Development Tax Credit; • 2021 Sustainable Building Tax Credit; and • Technology Jobs and Research and Development (Ad- ditional) Tax Credit. About Eligibility and Approval Requirements Advance approval is required for most business-related income tax credits listed on this schedule. For detailed in- formation about eligibility and approval requirements, and for a complete description of the credit, see the following: • Publication FYI-106, Claiming Business-Related Tax Credits for Individuals and Businesses • The forms referenced for the credit on the PIT‑CR Married Couples Each person in a married couple filing separate returns may claim half the allowable credit allowed on a joint return. Forms On Our Website You can find the forms described in these instructions on the Taxation and Revenue Department website at: https://www.tax.newmexico.gov/forms-publications/ in the Tax Credits (TC) folder. Line Instructions For Completing Schedule PIT-CR Use Schedule PIT-CR to claim any of the business-related tax credits listed in these instructions that may be taken against New Mexico income tax reported on the PIT-1 return. For a complete description of the credits, see Publication FYI- 106, Claiming Business-Related Tax Credits for Individuals and Businesses. The PIT-CR is divided into several sections. The first section lists the business-related tax credits by credit type code. These tax credits are divided into (1) the non-refundable business-related tax credits to be applied against tax due, and (2) the refundable business related-tax credits that may be applied both against tax due and as a credit to be refunded. The next section is divided into columns A-D: • the credit type code in column A. You must complete this field; • the credit approval number, if applicable. It may not be available for all credits, and for some credits the credit approval number is not required. If your business credit does not have a credit approval number as described in the next section, Tax Credit Types, leave the credit ap- proval number field blank; • the amount to be applied to the tax liability on the return; and • any amount of the credit that may be refunded to you. If you are claiming multiple credits for the same credit type, list each credit separately. For example: Taxpayer X has re- ceived certificates 123456-1 and 123456-2 for two separate angel investment credits. X’s return shows a liability of $80 before applying any tax credits. X wants to use $50 remain- ing from available carry forward on certificate 123456-1, and $30 remaining from certificate 123456-2. A separate entry must be made for each credit: Therefore, on line 1, X enters A02 in the credit type code column, enters 123456-1 in the credit approval number column, and $50 in the amount claimed column. The fourth column is left blank because the angel investment credit cannot be refunded. On line 2, X enters A02 in the credit type column, enters 123456-2 in the credit approval number column, and $30 in the amount claimed column. You must report the first 5 credits on Schedule PIT-CR. If you are claiming more than 5 credits to be applied to your tax liability or to be refunded, complete and attach the PIT- CR Supplemental. Attach the supplemental to the Schedule PIT-CR to report the additional credits. To calculate the amount that may be claimed, refer to the claim form or supporting instructions for the credit. IMPORTANT: The total amount you claim on line A, Sched- ule PIT-CR, may not exceed the sum of the tax due on PIT-1, lines 18 and 19, less any credit for tax paid to another state on PIT-1, line 20. Enter the sum of column C (Amount Claimed Applied to Tax Due) on line A, Schedule PIT-CR. Enter the sum of column D (Amount of Credit to Refund) on line B, Schedule PIT-CR. Transfer the totals to the PIT-1 return as follows: PIT-CR CR-1 www.tax.newmexico.gov

• Transfer the total credits to be applied to the liability due from Schedule PIT-CR, line A, to line 21 of the PIT-1 re- turn. • Transfer the tax credits to be refunded from Schedule PIT-CR, line B, to line 26 of the PIT-1 return. • Attach the appropriate backup documentation to support the credit taken and attach Schedule PIT-CR and PIT- CR Supplemental (if you had more than 5 credits) to your PIT-1 return. TAX CREDIT TYPES Descriptions of each tax credit Each type of credit is described next and includes the fol- lowing information, as applicable: • Whether the credit is refundable • If you can carry it forward and for how long • How to apply for the credit • How to claim the credit To calculate the amount you may claim against your personal income tax liability, refer to the claim form for the specific business-related income tax credit. For contact information, and for a complete description of the credit, see the following: • Publication FYI-106, Claiming Business-Related Tax Credits for Individuals and Businesses • The forms referenced for the credit on the PIT‑CR Affordable Housing Tax Credit (A01) Beginning January 1, 2006, the Mortgage Finance Authority (MFA) determines eligibility, approves affordable housing projects for MFA or for a trust fund administered by MFA, and issues an investment voucher to a taxpayer who made an investment of land, buildings, materials, cash, or services for an affordable housing project. The term “affordable housing” covers land acquisition, con- struction, building acquisition, remodeling, improvement, rehabilitation, conversion, or weatherization for single-family or multi-family residential housing approved by MFA. The vouchers are good for up to 50% of the investment. After receiving a voucher from MFA, the taxpayer may apply the credit against gross receipts, compensating, withholding, or personal income or corporate income tax liabilities. If you notify MFA about a sale or transfer and MFA reissues a voucher to the transferee, you may sell or transfer your voucher. Carry Forward for Five Years This credit is not refundable, but you can carry unused credits forward for five years. How To Claim This Credit To claim this credit, follow these steps: 1. Complete Form RPD-41301, Affordable Housing Tax Credit Claim Form. 2. Complete Schedule PIT-CR. In the Credit Approval Number box, enter the credit number assigned by MFA on the investment voucher. If the voucher was transferred to you, enter the new voucher number assigned by MFA. 3. Attach the following to your PIT-1: • RPD-41301 • PIT-CR • Copies of the vouchers received from MFA 4. Submit your PIT-1 and all attachments. Angel Investment Credit (A02) You may claim a credit for 25% of the qualifying investment, not to exceed $62,500, per investment round, in a high- technology or manufacturing business if all of the following are true: • You are a taxpayer who files a New Mexico personal in- come tax return. • You are not a dependent of another individual. • You are an accredited investor under IRS rules who makes a qualified investment. Accredited investors may claim the angel investment credit for qualified investments in no more than five qualified busi- nesses per tax year. A credit is not allowed for any investment made before January 1, 2007 or after December 31, 2025. Carry Forward for 5 Years If your certificate was issued in 2015 or after, you can carry forward unused credits for 5 consecutive years. For credits issued 2014 and prior, you can carry forward unused credits for three consecutive years. The credit is not refundable. How To Apply For This Credit To apply for this credit, follow these steps to get a certificate of eligibility. 1. Complete Form TRD-41404, Angel Investment Credit Ap- plication. Note: TRD-41404 can be filed electronically us- ing the department’s TAP website: https://tap.state.nm.us 2. Complete all applicable fields on this form. Incomplete forms can delay the review and approval process. 3. Submit all required documents to the Department. How To Claim This Credit To claim the credit, follow these steps: 1. Complete Form RPD-41320, Angel Investment Credit Claim Form, and Schedule PIT-CR. 2. Attach the following to your PIT-1: • RPD-41320 • PIT-CR • Copy of the certificate of eligibility from the Depart- ment 3. Submit your PIT-1 and all attachments. In the Credit Approval Number box, enter the certificate number from the certificate of eligibility issued to you by the Department. PIT-CR CR-2 www.tax.newmexico.gov

Advanced Energy Tax Credit (A04) (Repealed July 1, 2023) A taxpayer who holds an interest in a qualified electric gener- ating facility located in New Mexico may be eligible to apply for and claim the advanced energy tax credit.The amount of the credit is 6% of the eligible generation plant costs. The ag- gregate amount of tax credit that may be claimed with respect to a qualified generating facility is limited to $60,000,000. Carry Forward for 10 Years This credit is not refundable, but if the credit amount exceeds your tax liability, you can carry forward the unused credit for up to 10 years. You may allocate the right to claim this credit to other taxpayers who are interest owners in the qualified electric generating facility. To allocate the credit to interest owners, attach the Notice of Allocation of Right to Claim Advanced Energy Tax Credits to RPD-41333. How To Claim This Credit After you receive approval, you can claim the credit by fol- lowing these steps: 1. Complete Form RPD-41334, Advanced Energy Tax Credit Claim Form. 2. Complete PIT-CR. In the Credit Approval Number box, enter the number the Taxation and Revenue Department issued. The number is identified on your credit approval letter. If the letter does not show a credit approval num- ber, leave this box blank. 3. Attach the following to your PIT-1: • RPD-41334 • PIT-CR • Approval letter from NMENV 4. Submit your PIT-1 and all attachments. Agricultural Biomass Tax Credit (A05) A credit is available for a taxpayer who owns a dairy or feedlot and who files a personal or corporate income tax return for a taxable year beginning on or after January 1, 2011, and ending before January 1, 2030. The Department may allow a credit equal to $5 per wet ton of agricultural biomass transported from the taxpayer’s dairy or feedlot to a facility that uses agricultural biomass to generate electricity or makes biocrude or other liquid or gaseous fuel for commercial use. Carry Forward for 4 Years Excess credit is not refundable, but you can carry it forward for a maximum of 4 consecutive tax years from the first eli- gible year that the credit is approved to be claimed by the Department. How To Apply For This Credit You must first obtain a certificate of eligibility from EMNRD to qualify for this credit. When EMNRD issues you a certificate of eligibility, obtain approval from the Department by sub- mitting to the Department a completed Form RPD-41362, Agricultural Biomass Tax Credit Approval, and the certificate of eligibility. The Department approves the credit and returns the approved form to the owner or holder. How To Claim This Credit After you receive approval, you can claim the credit by fol- lowing these steps: 1. Complete Form RPD-41361, Agricultural Biomass Tax Credit Claim Form. 2. Complete PIT-CR. In the Credit Approval Number box, enter the credit number the Department assigned on Form RPD‑41362, Agricultural Biomass Tax Cred- it Approval. If the tax credit was transferred to you, enter the new credit number on RPD-41363, Notice of Transfer of Agricultural Biomass Tax Credit. 3. Attach the following to your PIT-1: • RPD-41361 • PIT-CR • Copy of certificate of eligibility issued by EMNRD 4. Submit your PIT-1 and all attachments. Film Production Tax Credit (F01) For film companies that commence principal photography prior to January 1, 2016, a credit is available in an amount equal to 25% of direct production and direct postproduction expenditures made in New Mexico that are subject to taxa- tion and directly attributable to the production of a film or commercial audiovisual product. An additional 5% credit is allowed for certain direct production expenditures made for qualifying productions. Excluded from the credit are costs for which the film produc- tion company has already executed a nontaxable transaction certificate under Section 7-9-86 NMSA 1978. How To Apply For This Credit To obtain approval for the credit, first apply to the New Mexico Film Office, a division of the EDD. After the film production company receives approval from EDD, the company must apply to the Department to get Department approval of the credit. See Form RPD‑41229, Application for Film Produc- tion Tax Credit. When you are approved, you may claim the credit by filing your personal or corporate income tax return. How To Claim This Credit You can claim the credit by following these steps: 1. Complete Form RPD-41228, Film Production Tax Credit Claim Form. 2. Complete PIT-CR. In the Credit Approval Number box, enter the credit approval number that the Department is- sued. The number is identified on your credit approval let- ter. If the letter does not show a credit approval number, leave this box blank. 3. Attach the following to your PIT-1: • RPD-41228 • PIT-CR 4. Submit your PIT-1 and all attachments. PIT-CR CR-3 www.tax.newmexico.gov

NOTE: The amount of film production tax credit you may claim against your tax due on this return and the amount you may receive as a refund (based on your claim for the film production tax credit are subject to certain limitations governing the payment of film production tax credit claims. For details about these limitations and how your claim may be impacted, see the instructions for RPD-41228, Film-Re- lated Tax Credit Claim Form. Foster Youth Employment Income Tax Credit (F02) For tax years beginning on or after January 1, 2018, a taxpayer who employs a qualified foster youth for at least 20 hours per week in New Mexico is eligible for a credit against the taxpayer’s personal or corporate income tax liability for up to $1,000 for wages paid to each qualified foster youth. If the foster youth’s qualified period of employment is less than a full year, the credit for that year is reduced based on the ratio of the qualified period of employment over the full tax year of the employer. Requirements The following are the requirements for this credit: • An employer may not receive the credit for any individual qualified foster youth for more than one calendar year from the date of hire. • Only one employer may receive the credit for a qualified foster youth during a tax year. • The qualified foster youth was aged fourteen or older within seven years prior to the taxable year for which the tax credit is claimed and was in the legal custody of either the Children, Youth and Families Department (CYFD) pursuant to the Children’s Code or in the legal custody of a New Mexico Indian Nation, Tribe or Pueblo, or the United States (US) Department of the Interior Bureau of Indian Affairs (BIA) Division of Human Services. • The foster youth employment tax credit is only allowed for the employment of a foster youth who was not previously employed by the taxpayer prior to the taxable year for which the credit is claimed.

Carry Forward for 3 Years Excess credit is not refundable, but you may carry it forward for up to 3 years. This credit cannot be transferred to another taxpayer, but it can be allocated based on a taxpayer’s ownership interest in a business. Before Applying for This Credit The qualified youth will have to contact the Children, Youth, and Families Department’s (CYFD) Family and Youth Services Bureau at (505) 827-8400 or the other agency which had legal custody of the qualified youth. That government agency, department, or bureau will have to send a letter or certificate to the qualified youth that includes their name, date of birth, and the date custody began. Applying for This Credit To apply for the credit, follow these steps: 1. For each eligible foster youth you employed in the tax year, complete RPD-41388, Certification of Eligibility for the Foster Youth Employment Tax Credit. Attach the let- ter or certificate received from the government agency, department, or bureau showing the date custody began for the qualified youth. 2. On RPD-41389, Application for Foster Youth Employ- ment Tax Credit, show the number of certifications and enter the other required information to establish that you retain the status of an eligible employer. 3. Complete all other sections of RPD-41389. 4. Submit the following to the Department: • RPD-41389 • An RPD-41388 for each eligible foster youth you em- ployed during the tax year. Claiming This Credit When you receive approval from the Department, follow these steps to claim the credit: 1. Complete RPD-41390, Foster Youth Employment Tax Credit Claim Form. 2. Complete PIT-CR, including these columns: • Column A. Enter F02. • Column B. Enter the credit approval number shown on the approved RPD-41389, Foster Youth Employment Tax Credit Application. • Column C. Enter the amount of the credit you want to apply to the tax liability. 3. Attach the following to the PIT-1: • RPD-41390 • PIT-CR 4. Submit the PIT-1 and all attachments to the Department. New Film Production Tax Credit (F03) For film companies that commence principal photography on or after July 1, 2019, a credit is available in an amount equal to 25% of direct production and direct postproduc- tion expenditures made in New Mexico that are subject to taxation and directly attributable to the production of a film or commercial audiovisual product. An additional 5% credit is allowed for certain direct production expenditures made for qualifying productions. In addition, a 5% credit is also allowed for production expenditures in areas more than 60 miles from Bernalillo or Santa Fe counties. Excluded from the credit are costs for which the film produc- tion company has already executed a nontaxable transaction certificate under Section 7-9-86 NMSA 1978. NOTE: If you are a New Mexico film partner,refer to F04 New Mexico Film Partner New Film production tax credit to claim your credit. How To Apply For This Credit To obtain approval for the credit, first apply to the New Mexico Film Office, a division of the EDD. After the film production company receives approval from EDD, the company must apply to the Department to get Department approval of the credit. See Form RPD‑41391, Application for New Film Production Tax Credit. PIT-CR CR-4 www.tax.newmexico.gov

When you are approved, you may claim the credit by filing your personal or corporate income tax return. How To Claim This Credit You can claim the credit by following these steps: 1. Complete Form RPD-41228, Film-Related Tax Credit Claim Form. 2. Complete PIT-CR. In the Credit Approval Number box, enter the credit approval number that the Department is- sued. The number is identified on your credit approval let- ter. If the letter does not show a credit approval number, leave this box blank. 3. Attach the following to your PIT-1: • RPD-41228 • PIT-CR 4. Submit your PIT-1 and all attachments New Mexico Film Partner New Film Production Tax Credit (F04) This credit applies to film production companies that are defined as New Mexico film partners that have made a com- mitment to produce films or commercial audiovisual products in New Mexico and have purchased or executed a 10 year contract to lease a qualified production facility. Limitations to certification of a claim in excess of the aggregate amount of claims provided by the Film Production Tax Credit Act does not apply to the certification of a budget for a New Mexico film partner. New Mexico film partners that commence principal photogra- phy on or after July 1, 2019, a credit is available in an amount equal to 25% of direct production and direct postproduction expenditures made in New Mexico that are subject to taxa- tion and directly attributable to the production of a film or commercial audiovisual product. An additional 5% credit is allowed for certain direct production expenditures made for qualifying productions. In addition, a 5% credit is also allowed for production expenditures in areas more than 60 miles from Bernalillo or Santa Fe counties. Excluded from the credit are costs for which the film produc- tion company has already executed a nontaxable transaction certificate under Section 7-9-86 NMSA 1978. How To Apply For This Credit To obtain approval for the credit, first apply to the New Mexico Film Office, a division of the EDD. After the film production company receives approval from EDD, the company must apply to the Department to get Department approval of the credit. See Form RPD‑41391, Application for New Film Production Tax Credit. When you are approved, you may claim the credit by filing your personal or corporate income tax return. How To Claim This Credit You can claim the credit by following these steps: 1. Complete Form RPD-41228, Film-Related Tax Credit Claim Form. 2. Complete PIT-CR. In the Credit Approval Number box, enter the credit approval number that the Department is- sued. The number is identified on your credit approval let- ter. If the letter does not show a credit approval number, leave this box blank. 3. Attach the following to your PIT-1: • RPD-41228 • PIT-CR 4. Submit your PIT-1 and all attachments Geothermal Ground-Coupled Heat Pump Tax Credit (G01) A credit is available for a taxpayer who has purchased and installed a geothermal ground-coupled heat pump after January 1, 2010, but before December 31, 2020. To qualify for the tax credit, you must install the pump in a residence, business, or agricultural enterprise in New Mexico that you own or that a partnership or other business association of which you are a member owns. The credit, which may not exceed $9,000, is available for up to 30% of the purchase and installation costs. Carry Forward for 10 Years This credit is not refundable, but you can carry forward un- used credit for a maximum of 10 consecutive years following the tax year for which the credit was approved. How To Apply For This Credit To qualify for this credit, you must first obtain a certificate of eligibility from EMNRD. How To Claim This Credit After you receive the certificate of eligibility, you can claim the credit against personal income tax due by following these steps: 1. Complete Form RPD-41346, Geothermal Ground-Cou- pled Heat Pump Tax Credit Claim Form. 2. Complete PIT-CR. In the Credit Approval Number box, enter the certificate number EMNRD issued to you. 3. Attach the following to your PIT-1: • RPD-41346 • PIT-CR • Copy of certificate of eligibility from EMNRD 4. Submit your PIT-1 and all attachments.

Job Mentorship Tax Credit (J01) A taxpayer owning a New Mexico business may claim a job mentorship tax credit for employing qualified students who take part in a school-sanctioned career preparation educa- tion program. The credit equals 50% of gross wages paid to a maximum of 10 qualified students. The business must employ each student for up to 320 hours during the tax year. A taxpayer may not claim a credit for one qualified individual for more than three tax years. The maximum credit for one tax year is $12,000. PIT-CR CR-5 www.tax.newmexico.gov

Carry Forward for Three Years This credit is not refundable, but you can carry unused credit forward for three consecutive years. How To Apply For This Credit To apply for this credit, obtain a Form RPD-41280, Job Men- torship Tax Credit Certificate, from the secondary school that operates the career preparation education program for each qualified student you employ. For help obtaining the certificate, contact the principal of the school that the student you employ attends. How To Claim This Credit To claim this credit, follow these steps: 1. Complete Form RPD-41281, Job Mentorship Tax Credit Claim Form. 2. Complete PIT-CR, leaving the Credit Approval Number box blank. A credit approval number is not required to claim this credit. 3. Attach RPD-41280, RPD-41281, and PIT-CR to your PIT- 1.

Land Conservation Incentives Credit (L01) Persons who donate land or interest in land to private or public conservation agencies for conservation purposes may claim a credit up to the following amounts from personal or corporate income tax equal to 50% of the fair market value of the land transferred: • $100,000 for donations made before January 1, 2008 • $250,000 for donations made on or after January 1, 2008 For a donation made after January 1, 2008, the credit may be sold, exchanged, or transferred in increments of $10,000 or more. Carry Forward for 20 Years Unused credit is not refundable, but you may carry it forward for up to 20 consecutive years following the year when the qualified donation occurred. How To Apply For This Credit To apply for this credit, follow these steps: 1. Contact the New Mexico Energy, Minerals and Natural Resources Department (EMNRD) to certify the eligibility of the donation. 2. After you receive the certificate of eligibility from EMNRD, complete Form RPD-41335, Land Conservation Incen- tives Credit Application. 3. Submit RPD-41335 and a copy of the certificate of eligi- bility to the Department. How To Claim This Credit When you receive approval from the Department, follow these steps to claim the credit: 1. Complete Form RPD-41282, Land Conservation Incen- tives Tax Credit Claim Form. 2. Complete the PIT-CR. In the Credit Approval Num- ber box, enter the credit number the Department assigned on Form RPD-41335, Land Conservation In- centives Credit Application. If the credit was transferred, enter the new credit number assigned on Form RPD- 41336, Notice of Transfer of Land Conservation Incen- tives Tax Credit. 3. Attach the following to your PIT-1: • RPD-41282 • PIT-CR • Letter from EMNRD certifying treatment as a qualified donation 4. Submit your PIT-1 and all attachments. Preservation Of Cultural Property Credit (P01) The credit for preservation of cultural property is 50% of the approved eligible costs of a project for the restoration, re- habilitation, or preservation of cultural property listed on the official New Mexico Register of Cultural Properties, not to exceed $25,000. Requirements The New Mexico Cultural Properties Review Committee must approve the project plan before the restoration begins and certify that the completed project conforms to the plan. For tax years beginning on or after January 1, 2009, if the property is also certified by the State Coordinator of the New Mexico Arts and Cultural District Act as located within the boundaries of a state-certified or municipally-certified arts and cultural district, pursuant to the Arts and Cultural District Act, a maximum of $50,000 credit is allowed. Carry Forward for Four Years An amount exceeding the tax liability is not refundable, but you may carry it forward for four consecutive years. How To Claim This Credit To claim this credit after you receive approval, follow these steps: 1. Complete Form PIT-4, New Mexico Preservation of Cul- tural Property Credit. 2. Complete Schedule PIT-CR. In the Credit Approval Number box, enter the log number shown on the project approval document that the Historic Preservation Divi- sion issued to you. 3. Attach the following to your PIT-1: • PIT-4 • PIT-CR • The Part 2 approval from the New Mexico Cultural Properties Review Committee • If applicable, the approval from the New Mexico Arts and Cultural Districts coordinator Rural Job Tax Credit (R01) A rural job tax credit is available for employers in rural ar- eas of New Mexico who qualify for Job Training Incentive Program (JTIP) assistance. Eligible employers may earn the rural job tax credit for each qualifying job created after July 1, 2000. PIT-CR CR-6 www.tax.newmexico.gov

The employer must certify the wages paid to each eligible employee using Form RPD-41247, Certificate of Eligibility for the Rural Job Tax Credit. Calculate the rural job tax credit at 6.25% of the first $16,000 in wages paid for each qualifying job for no more than: • Four qualifying periods in a Tier 1 area • Two qualifying periods in a Tier 2 area A qualifying period is 12 months. A rural area excludes Al- buquerque, Corrales, Farmington, Las Cruces, Los Alamos County, Los Ranchos, Rio Rancho, Santa Fe, and Tijeras, and a 10-mile zone around these municipalities. Tier 2 areas are limited to Alamogordo, Carlsbad, Clovis, Gallup, Hobbs, and Roswell. Tier 1 is any rural area not part of a Tier 2 area. The holder of the rural job tax credit may apply all or part of the credit against the holder’s combined state gross receipts, compensating and withholding taxes, or personal or corporate income tax. When you file your PIT-1, indicate the amount of the credit you want to apply to your liability. To learn more about JTIP assistance, visit the New Mexico EDD website, call (505) 827-0300 or (800) 374-3061, or go to www.gonm.biz. Carry Forward for Three Years An amount exceeding the tax liability is not refundable, but you may carry it forward for three consecutive years. How To Apply For This Credit To apply for the rural job tax credit, do the following: 1. Attach a notarized, completed Form RPD-41247, Cer- tificate of Eligibility for the Rural Job Tax Credit, for each qualified job you claim in the eligible period. 2. Complete Form RPD-41238, Application for Rural Job Tax Credit. 3. Send the forms to the address on RPD-41238. How To Claim This Credit After you receive approval from the Department, you can claim the credit by following these steps: 1. Complete Form RPD-41243, Rural Job Tax Credit Claim Form. 2. Complete Schedule PIT-CR. In the Credit Approval Number box, enter the credit approval number the De- partment issued to you. The number is identified on your credit approval letter. If the letter does not show a credit approval number, leave this box blank. 3. Attach the following to your PIT-1: • RPD-41243 • PIT-CR 4. Submit the form and schedule along with your PIT-1. Rural Health Care Practitioners Tax Credit (R02) Beginning January 1, 2007, a taxpayer for whom all of the following are true may be eligible to claim the rural health care practitioners tax credit against a personal income tax liability: • You file a New Mexico personal income tax return. • You are not a dependent of another individual. • You are an eligible health care practitioner. • You have provided health care services in New Mexico in a rural health care underserved area. The following are the maximum amounts allowed for the credit you can claim, depending on profession: • $5,000 for eligible physicians, osteopathic physicians, dentists, clinical psychologists, podiatrists, and optom- etrists who qualify, and • $3,000 for dental hygienists, physician assistants, certi- fied nurse-midwives, certified registered nurse anesthe- tists, certified nurse practitioners, and clinical nurse spe- cialists who qualify. Hours Required to Qualify An eligible health care practitioner must have provided health care at a practice site located in an approved rural health care underserved area during a taxable year for at least: • 2,080 hours to qualify for the full credit amount • 1,040 hours, but less than 2,080 hours, to qualify for one- half the full credit amount. Carry Forward for Three Years If the amount of the credit you claim exceeds your tax liability for the taxable year for which you are claiming the credit, you can carry forward the excess for three consecutive tax years. This credit is not refundable. How To Apply For This Credit Before an eligible health care practitioner may claim the rural health care practitioner tax credit, the practitioner must ap- ply to DOH for a certificate of eligibility for the credit. When DOH approves a practitioner, DOH issues a certificate to the qualified eligible health care practitioner. Lists of Locations Approved by DOH DOH compiles and annually revises lists of approved rural practice locations. These revisions reflect any changes in the need for health practitioners throughout the state. Separate lists are available for different categories of health care practitioners. The lists are compiled with the input of a program advisory group that includes representatives from several health professions. How To Claim This Credit After you receive the certificate of eligibility from DOH, you can claim the credit by following these steps: 1. Complete Form RPD-41326, Rural Health Care Practitio- ner Tax Credit Claim Form. 2. Complete PIT-CR. In the Credit Approval Number box, enter the credit approval number issued to you by DOH. 3. Attach the following to your PIT-1: • RPD-41326 • PIT-CR • Copy of the certificate of eligibility received from DOH 4. Submit your PIT-1 and all attachments. PIT-CR CR-7 www.tax.newmexico.gov

For More Information For a copy of location lists and for more information about certification of eligibility, contact DOH at (505) 222-8672 or visit their website at www.nmhealth.org. The physical ad- dress of DOH is 300 San Mateo NE, Suite 900, Albuquerque, NM 87108. Renewable Energy Production Tax Credit (R03) Personal income and corporate income taxpayers receive credit for producing electricity by solar light or heat, wind, or biomass for an eligibility period of 10 consecutive years beginning on the date the qualified energy generator be- gins producing electricity. Deduct, Refund, or Carry Forward for Five Years This refundable credit is not currently available to apply for but you may deduct an existing credit from your personal income tax liability for which you are claiming the credit. If the amount of the tax credit exceeds your personal income tax liability for the tax year, one of the following is possible: • If the tax credit was issued with respect to a qualified energy generator that first produced electricity using a qualified energy resource on or after October 1, 2007, the state refunds the excess to you. or • You may carry forward the excess credit for five years. How To Claim This Credit When you receive approval from EMNRD, follow these steps to claim the credit: 1. Complete Form RPD-41227, Renewable Energy Produc- tion Tax Credit Claim Form. 2. Complete PIT-CR. In the Credit Approval Number box, enter the last day of the tax year when the electricity was produced for which you are claiming a credit or a car- ryforward. 3. Attach the following to your PIT-1: • RPD-41227 • Certificate of eligibility from EMNRD • Allocation Notice approved by EMNRD, if applicable • PIT-CR • A copy of the letter from EMNRD certifying treatment as a qualified donation 4. Submit your PIT-1 and all attachments. Solar Market Development Tax Credit (S01) A taxpayer who has received certification from EMNRD for the purchase and installation of a qualified photovoltaic or solar thermal system in a residence, business, or agricultural enterprise in New Mexico owned by that taxpayer may claim the credit. The photovoltaic or solar thermal system must be purchased and installed after January 1, 2006, but before December 31, 2016. NOTE: The solar market development tax credit is reported on Schedule PIT‑CR, as credit type code S01. The new solar market development tax credit enacted in 2020 is reported on Schedule PIT-CR, as credit type code S04. The renew- able energy tax credit is reported on Schedule PIT‑CR, as credit type code R03. These credits are not the same credit. Carry Forward for 10 Years This non-refundable credit is not currently available to ap- ply for but you can carry an existing credit forward for the maximum of 10 consecutive years from the first eligible year in which the certificate from EMNRD was issued. How To Claim This Credit When you receive approval from EMNRD, follow these steps to claim the credit: 1. Complete Form RPD-41317, Solar Market Development Income Tax Credit Claim Form. 2. Complete PIT-CR. In the Credit Approval Number box, enter the certificate number shown on the certificate of eligibility EMNRD issued to you. 3. Attach the following to your PIT-1: • RPD-41317 • PIT-CR • A copy of the letter from EMNRD certifying the project 4. Submit your PIT-1 and all attachments. IMPORTANT: To claim this credit, you must have a certificate from EMNRD issued to you before December 31, 2016. Sustainable Building Tax Credit (S02) A taxpayer with qualified construction or renovations made after January 1, 2017 but ending on or before December 31, 2026, should contact the New Mexico Energy, Minerals and Natural Resources Department (EMNRD) to certify your eligibility to claim the new Sustainable Building Tax Credit. Carry Forward for 7 Years This non-refundable credit is not currently available to apply for but you can carry an existing credit forward for the maxi- mum of 7 consecutive years from the first eligible year that the credit was approved to be claimed by the Department. How To Claim This Credit When you receive approval from the Department, follow these steps to claim the credit: 1. Complete Form RPD-41329, Sustainable Building Tax Credit Claim Form 2. Complete PIT-CR. In the Credit Approval Number box, enter the credit number assigned by the Department on Form RPD-41327, Sustainable Building Tax Credit Approval. If the credit was transferred to you, enter the new credit number assigned on Form RPD‑41342, Notice of Transfer of Sustainable Building Tax Credit. 3. Attach the following to your PIT-1: • RPD-41329 • PIT-CR • Copies of the letter of eligibility 4. Submit your PIT-1 and all attachments. 2015 Sustainable Building Tax Credit (S03) A credit is available for construction in New Mexico of a sustain- PIT-CR CR-8 www.tax.newmexico.gov

able building, for renovation of an existing building in New Mex- ico into a sustainable building, or for permanent installation of manufactured housing that is a sustainable building, regard- less of where the housing is manufactured. You may claim the credit for tax years from January 1, 2017 through December 31, 2024. The credit is available for residential and commercial build- ings after the construction, installation, or renovation of the sustainable building is complete. To qualify for the tax credit, the building must have achieved a silver or higher certification level in the Leadership in En- ergy and Environmental Design (LEED) green building rating system or the Build Green NM rating system. Carry Forward for Seven Years This credit is not refundable, but you can carry the credit forward for seven years from the first eligible year that the credit is approved to be claimed by the Department. How To Apply For This Credit To apply for this credit, follow these steps: 1. Contact the New Mexico Energy, Minerals and Natural Resources Department (EMNRD) to certify your eligibil- ity. 2. After you receive the certificate of eligibility from EMNRD, promptly complete Form RPD-41382, 2015 Sustainable Building Tax Credit Approval. 3. Submit RPD-41382 and a copy of the certificate of eligi- bility to the Department. How To Claim This Credit When you receive approval from the Department, follow these steps to claim the credit: 1. Complete Form RPD-41383, 2015 Sustainable Building Tax Credit Claim Form 2. Complete PIT-CR. In the Credit Approval Number box, enter the credit number assigned by the Department on Form RPD-41382, 2015 Sustainable Building Tax Credit Approval. If the credit was transferred to you, enter the new credit number assigned on Form RPD‑41384, Notice of Transfer of 2015 Sustainable Building Tax Credit. 3. Attach the following to your PIT-1: • RPD-41383 • PIT-CR • Copies of the letter of eligibility 4. Submit your PIT-1 and all attachments. New Solar Market Development Tax Credit (S04) A taxpayer who has received certification from EMNRD for the purchase and installation of a qualified photovoltaic or solar thermal system in a residence, business, or agricultural enterprise in New Mexico owned by that taxpayer may claim the credit. The photovoltaic or solar thermal system must be purchased and installed on or after March 1, 2020, but before December 31, 2031. The credit can be claimed on a personal or fiduciary income tax return beginning on or after January 1, 2020. NOTE: The solar market development tax credit is reported on Schedule PIT‑CR, as credit type code S04. The renew- able energy tax credit is reported on Schedule PIT‑CR, as credit type code R03. These credits are not the same credit. Carry Forward for 5 Years For taxpayer who claimed this credit on their 2020 and 2021 returns only. You can carry an existing credit forward for the maximum of 5 consecutive years from the first eligible year in which the certificate from EMNRD was issued. Note: This credit is non-refundable for taxpayers who claimed the credit prior to January 1, 2022. Refundable Credit For taxpayer who claim the credit on or after January 1, 2022, the portion of the new solar market development income tax credit that exceeds the taxpayer’s tax liability shall be refunded to the taxpayer. Sold, Exchange, or Transfers Effective January 1, 2022 (HB-163 (2022)) a certificate of eligibility for a new solar market development tax credit may be sold, exchanged, or otherwise transferred to another taxpayer for the full value of the credit. The Taxation and Revenue Department shall be notified of the sale, exchange, or transfer within ten days. How To Claim This Credit When you receive approval from EMNRD, follow these steps to claim the credit: 1. Complete Form TRD-41406, New Solar Market Develop- ment Income Tax Credit Claim Form. 2. Complete PIT-CR. In the Credit Approval Number box, enter the certificate number shown on the certificate of eligibility EMNRD issued to you. 3. Attach the following to your PIT-1: • TRD-41406 • PIT-CR • A copy of the letter from EMNRD certifying the project 4. Submit your PIT-1 and all attachments. IMPORTANT: To claim this credit, you must have a certificate from EMNRD issued to you on or after March 1, 2020, and before December 31, 2031. 2021 Sustainable Building Tax Credit (S05) A credit is available for the construction in New Mexico of a sustainable building, the renovation of an existing building in New Mexico, the permanent installation of manufactured housing, regardless of where the housing is manufactured, that is a sustainable building or the installation of energy- conserving products to existing buildings in New Mexico. You may claim the credit for tax years prior to January 1, 2030. If the certification level for a sustainable residential building is awarded on or after January 1, 2021, EMNRD may issue PIT-CR CR-9 www.tax.newmexico.gov

a certificate of eligibility to a building owner who is: • the owner of the sustainable residential building at the time the certification level for the building is awarded, or • the subsequent purchaser of a sustainable residential building with respect to which no tax credit has been previously claimed. The credit is available to the building owner of residential and commercial buildings, after the construction, installation, or renovation of the sustainable building is complete. To be eligible, the building owner must obtain a Certificate of Eligibility issued by the Energy, Minerals and Natural Resources Department (EMNRD). To claim the credit, the taxpayer must submit TRD required forms and Certificate of Eligibility with the taxpayer’s income tax return. Refundable Credit This credit is considered non-refundable. However, if the taxpayer is a low-income taxpayer, the excess shall be re- funded to the taxpayer. “Low-income taxpayer” means a taxpayer with an annual household adjusted gross income equal to or less than two hundred percent of the federal poverty level (200% of the FPL) guidelines published by the United States department of health and human services. Applying for This Credit To apply for this credit, follow these steps: 1. Contact EMNRD to certify eligibility. 2. After EMNRD approves the credit they will issue the taxpayer a Certificate of Eligibility. Claiming This Credit Follow these steps to claim the credit: 1. Complete TRD-41252, 2021 Sustainable Building Tax Credit Claim Form. 2. Complete CIT-CR, including these columns:

●Column A. Enter S05.

●Column B. Enter the credit number assigned by the Department on Certificate of Eligibility. If the credit was transferred to you, enter the new credit number assigned on Form TRD-41253, 2021 Sustainable Building Tax Credit Notice of Transfer.

●Column C. Enter the amount of the credit you want to apply to the tax liability.

●Column D. If you are eligible for a refund, enter the amount to refund. 3. Attach the following to the PIT-1:

●TRD-41252

●PIT-CR

●A copy of the Certificate of Eligibility or Notice of Transfer 4. Submit the PIT-1 and all attachments to the Department. For More Information To learn more, visit https://www.emnrd.state.nm.us/ecmd/ or call (505) 476-3200. Technology Jobs And Research And Development (Additional) Tax Credit (T02) This credit is 5% of qualified expenditures for conducting re- search and development. An additional 5% credit is available if the taxpayer increases its annual payroll by at least $75,000 for every $1 million in qualified expenditures it claims in a tax year. The basic and additional credits double for businesses in rural areas. To be eligible, qualified expenditures must be made on or after January 1, 2016. The taxpayer must make the eligible expenditures for re- search and development at a qualified facility. For more information on qualified expenditures, see the instructions for Form RPD-41385, Application for Technology Jobs and Research and Development Tax Credit. The holder of the Technology Jobs and Research and Devel- opment Tax Credit document may apply all or part of “basic” credits against the holder’s combined state compensating, withholding, and gross receipts tax, less any local option gross receipts tax. “Basic” credit may be not be refunded but may be carried forward for three years from the date of the original claim. If you have earned “additional” credits, you may claim that amount against personal or corporate income taxes. If the taxpayer is a qualified research and development small busi- ness, a portion of the “additional” credit can be refunded, based on the taxpayer’s total qualified expenditures made in a tax year. Any credit not claimed against the taxpayer’s income tax or corporate income tax due, or refunded, may be carried forward for three years from date of the original claim. NOTE: Taxpayers who claim the research and development small business tax credit are ineligible to claim the investment tax credit or the technology jobs and research and develop- ment tax credit for the same reporting period. How To Apply For This Credit To apply for the basic and additional credit, do the following: 1. Complete Form RPD-41385. 2. Send it along with your expenditure and payroll increase documentation to the address on RPD‑41385. How To Claim This Credit After you receive approval from the Department, you may claim the credit by following these steps: 1. Complete Form RPD-41386, Technology Jobs and Re- search and Development Tax Credit Claim Form. 2. Complete Schedule PIT-CR. • In the Credit Approval Number box, enter the credit approval number the Department issued to you. The number is identified on your credit approval letter. If the letter does not show a credit approval number, leave PIT-CR CR-10 www.tax.newmexico.gov

this box blank. • In the Amount Claimed Applied To Tax Due box, indi- cate the amount of the credit you want to apply to your liability. • In column D, indicate the amount of the credit to be refunded, if eligible. 3. Attach the following to your PIT-1: • RPD-41386 • PIT-CR 4. Submit RPD-41386 and PIT-CR along with your PIT-1. PIT-CR CR-11 www.tax.newmexico.gov

INSTRUCTIONS FOR 2023 PIT-ES NEW MEXICO ESTIMATED TAX PAYMENT VOUCHER Who Must Pay Estimated Taxes? Every individual who must file a personal income tax return under the Income Tax Act also must pay estimated income tax. This occurs through withholding taxes or by making es- timated tax payments using the Personal Income Estimated Tax Payment Voucher (PIT-ES). You can also pay by check or credit card using the Department’s website. There is a penalty for underpayment or non-payment of estimated tax, unless: • You are a first-year resident; • Your tax for the current year, less amounts withheld, is under $1,000; or • You are a full-year New Mexico resident whose previous tax year was a 12-month tax year and you owed zero tax for that tax return. Tax Estimation Methods To calculate estimated taxes, you can use the standard method (described next) and, if you qualify, exception methods (described later in these instructions). Taxpayers who qualify for an exception may be able to reduce the amount of under- payment penalty owed by completing and submitting Form RPD-41272, Calculation of Estimated Personal Income Tax Underpayment Penalty, for the tax year of the return along with the PIT-1 return. Do not submit Form RPD-41272 unless it reduces the amount of underpayment penalty due under the standard method of computing underpayment penalty. How Much Do You Need To Pay? To calculate your estimated tax, start with the required annual payment or the total amount of estimated tax to pay during the tax year. Then determine the amount and due date for each estimated tax payment. The required annual payment is the lesser of: • 90% of the tax on the current year’s return (or, if no return is filed, the tax for the taxable year), or • 100% of the tax on the prior year’s return, if you filed a return during the prior year for a full 12-month year. To determine the required annual payment, calculate your 2023 tax by: 1. Totaling these items on PIT-1: • Rebates and credits claimed (line 24) • Working families tax credit claimed (line 25) • New Mexico income tax withheld (lines 27, 28, and 29) 2. Subtracting this total from 2023 Net New Mexico Income Tax (line 22). NOTE: Always use the instructions specifically written for the tax year you are filing because the line numbers and the calculation of estimated tax may change from year to year. When Are Calendar Year Or Fiscal Year Estimated Pay- ments Due? For most calendar-year taxpayers, four installments of the required annual payment are due (postmark or delivery ser- vice date) by April 15, June 15, September 15, and January 15, of the following year. For taxpayers reporting on a fiscal year basis, other than a calendar year, payments are due on or before the 15th day of the fourth, sixth, and ninth months of the tax year and on or before the 15th day of the first month of the following year. Sometimes a due date for an estimated payment is a Sat- urday or a Sunday, or a state or national legal holiday. The estimated payment is on time when the postmark bears the date of the next business day. Delivery by a private deliv- ery service is on time if the pick-up date is on or before the required due date. Exceptions For Estimated Payment Amounts And Timing Special rules for determining the amount and timing of each estimated payment apply to taxpayers who qualify for exceptions. If any of the following exceptions applies to you, you may be able to reduce the underpayment penalty due by completing and submitting RPD-41272, Calculation of Estimated Per- sonal Income Tax Underpayment Penalty for the tax year you are filing along with your PIT-1 return: • You want to use the actual dates withholding tax was withheld for the applicable tax year to calculate your estimated payments. • Your income varied during the year so you do not need to pay estimated personal income tax until after March 31 of the tax year. • You are a farmer or rancher who expects to receive 2/3 of gross income for the tax year from farming or ranching, or who has received at least 2/3 of gross income for the previ- ous tax year from farming or ranching. Descriptions Of Exceptions And Number To Enter In Box On Line 35, PIT-1 Read these descriptions to see if you qualify for an exception. If you qualify, enter the number noted in the last paragraph of the specific description. Exception for applying actual tax withholding dates. This exception applies to taxpayers who wish to compute estimated payments according to the actual dates when all amounts of withholding tax were withheld for the applicable tax year. Unless you establish on Form RPD-41272 the dates on which all amounts were actually withheld, the Taxation and Revenue Department considers an equal amount of tax with- held as tax paid on each installment due date. This provision may apply separately to wage and pension withholding and any other amounts withheld under the Withholding Tax Act. Enter 1 if you want to calculate estimated payments based PIT-ES ES-1 www.tax.newmexico.gov

on the actual dates on which all amounts of withholding tax were withheld for the applicable tax year. (If you qualify for the exception for varying income or the exception for farm- ers and ranchers, enter a number from 2 to 5 as indicated in the next descriptions.) Exception for income that varies during the year. This exception applies to taxpayers who receive seasonal income. You may only use this method if actual income through March 31 is too small to require an estimated payment. When your base income increases in later periods, you must make higher estimated payments to balance your account. No payment is due for the first quarter, because actual income through March 31 is too small to require an estimated pay- ment. Subsequent test dates to check income for estimated payments are May 31, August 31, and December 31. If your income varies, enter 2, 3, or 4 to show the quarter you are required to begin making estimated payments. Exception for farmers and ranchers. The law provides a special rule, identical to the federal rule, for farmers and ranchers who expect to receive at least 2/3 of their gross income from farming or ranching, or who received at least 2/3 of their gross income from farming or ranching in the prior year. Farmers and ranchers who meet the gross in- come test may: • Make one estimated payment in the amount of the re- quired annual payment on or before January 15 of the year following the tax year of the return, or • File and pay taxes in full on or before March 1 of the year following the tax year of the return. For joint returns, the farmer or rancher must count the spouse’s gross income to determine whether the couple meets the two-thirds-of-gross income test. Enter 5 if you are a farmer or rancher and meet these requirements. Make this entry, even if you do not owe an underpayment penalty because you filed and paid the tax in full on or before March 1 of the year following the tax year of the return. Penalty For Underpayment Or Non-Payment Of Estimated Tax Payments The penalty for underpayment or non-payment of estimated tax is based on the difference between the estimated tax payment and the actual amount of estimated tax due. Penalty accumulates from the due date of the estimated tax payment until the earlier of: • The date the payment is made, or • The 15th day of the fourth month following the close of the tax year. New Mexico calculates the penalty (in the form of interest) on underpayment of estimated tax at the same rate as in- terest on an underpayment of tax. The penalty is calculated on a daily basis at the interest rate established by the U.S. Internal Revenue Code (IRC) for individual income tax purposes. The IRC rate, which changes quarterly, is announced by the IRS in the last month of the previous quarter. The annual and daily interest rates for each quarter are posted on our website at https://www.tax.newmexico.gov/individuals/file- your-taxes-overview/penalty-interest-rates/. A special rule applies for calculating the underpayment or non-payment penalty for personal estimated income tax. The interest rate that applies to the 1st quarter following the tax year also applies to the first 15 days of April following the tax year. This is the formula to calculate the amount of a standard daily penalty: penalty due = estimated tax payment x daily interest rate x number of days late NOTE: The penalty for underpayment of estimated tax may exceed the maximum 20% that applies to an underpayment penalty for tax. To help calculate the underpayment penalty, you may use Form RPD-41272, Calculation of Estimated Personal Income Tax Underpayment Penalty. But do not submit the form unless: • You qualify for a exception method of determining the amount and timing of the estimated tax payment, and • You will owe less penalty by using the exception method. Only taxpayers who may lower their penalty using the excep- tion method submit RPD-41272. To calculate an underpayment or non-payment penalty us- ing the exception method for estimated personal income tax, you must enter 1, 2, 3, 4, or 5 in the box on line 35, PIT-1. If the box is blank, the penalty is calculated using the standard method. How To Avoid A Penalty If you file a return and pay the full amount on or before Janu- ary 31 of the next year, no penalty applies to the 4th quarter payment. If the balance due is $1,000 or more, the Taxation and Revenue Department determines whether the required annual payment was made in timely installments. If the pay- ment was made on time, there is no penalty. If you believe an assessment is in error, you can protest the assessment and provide more information. More Information And Help For more information, see FYI-320, PIT-ES: Personal In- come Estimated Tax Payments. At page https://www.tax. newmexico.gov/forms-publications/, select FYIs from the Publications folder. Open the 300 Series-Income Taxes folder to access FYI-320. Download a copy of the publica- tion, or send an e-mail to TRD.taxreturnhelp@tax.nm.gov for more information. PIT-ES ES-2 www.tax.newmexico.gov

Methods Of Payment You can make an electronic payment online or mail a check or money order. Pay Online. You may submit a payment with the payment voucher by mail or pay estimated personal income taxes online at no charge by electronic check through Taxpayer Access Point (TAP). Go to https://tap.state.nm.us and under GENERAL TASKS, click Make a Payment, then Individual. The electronic check authorizes the Department to debit your checking account in the amount and on the date you specify. You may also use a credit card for your online payment. A convenience fee is applied for using a credit card. The State of New Mexico uses this fee, calculated on the transaction amount, to pay charges from the credit card companies. Pay By Mail. Mail your payment voucher and your check or money order to the Department, following the mailing requirements in step 7. Paying With A Check. When you provide a check as pay- ment, you authorize the Department to use information from your check to make a one-time electronic fund transfer from your account. When we use information from your check to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day you make your payment. Where To Get The Voucher You can get the PIT-ES payment voucher from your personal income tax packet, the Department website, one of the Department’s district offices, or your tax return preparation software. To avoid misapplication of your payment, make sure the tax year is correct on the voucher. Use Only Blue Or Black Ink. Type or print all entries in blue or black ink. Do not use pencil. Completing And Submitting The Voucher And Pay- ment Follow the next steps to complete and submit your voucher and payment. 1. Check the year and enter date. 2. For the Department to apply your estimated payment to the correct tax year, the PIT-ES voucher must show the tax year for which you are making payment. On the payment voucher from the Department website, write in the tax year. Make sure all payment vouchers show the correct tax year. 3. If you are a calendar-year filer making an estimated payment for a 2024 tax return due in 2025, make sure the date on your PIT-ES payment voucher indicates that the last day of the tax year is 2024. 4. Enter identification information. 5. Enter your name and social security number. If you ex- pect to file a joint return, enter your spouse’s name and social security number. To speed processing, enter the names and social security numbers in the same order as shown on your tax return. 6. Calculate the estimated payment. 7. Using the tax rate tables for the applicable tax year, determine the amount of estimated tax you owe and the amount of payments, if any, made to date. Include any overpayments from the prior year’s return you want to apply to the current year’s estimated tax payments. If you need help calculating the estimated payments, see Form RPD-41272, Calculation of Estimated Per- sonal Income Tax Underpayment Penalty, or FYI-320, PIT-ES: Personal Income Tax Estimated Payments. 8. Mark quarter and enter amount. 9. Mark the box for the quarter of your estimated pay- ment. If you are a fiscal year filer, mark the box for the quarter that compares to a calendar year. 10. Using whole dollars only, enter the amount you are submitting with the PIT-ES. Do not enter or pay cents. 11. Cut on the voucher’s dotted line. 12. The high-speed scanners at the Department can read only one page size to process payment vouchers. Make sure to cut directly on the dotted line. 13. Keep a copy in a safe place. 14. To prepare your personal income tax return, you need a copy or record of each PIT-ES payment. Place your copy in a safe place where you can easily find it. 15. Follow our mailing requirements. 16. If you mail your payment, make your check or money order payable to New Mexico Taxation and Revenue Department. Write your social security number, PIT- ES, and the tax year on the check or money order. Us- ing your own envelope, enclose the check or money or- der and the completed PIT-ES payment voucher. Mail the envelope to: NM Taxation and Revenue Dept. P.O. Box 8390 Santa Fe, NM 87504-8390 IMPORTANT: For proper credit on your account, do not combine a payment of estimated personal income tax with any other payment. A taxpayer who does not make sufficient payments for a tax year may receive an assessment of penalty for un- derpayment of New Mexico personal income tax, even if the full tax amount owed is paid on time with the annual income tax return. To avoid underpayment penalty you may be required to make estimated tax payments. Read these instructions for more information. Calendar-year taxpayers: The first estimated payment due for tax year 2024 is April 15, 2024. The next payments are due June 15, 2024; September 15, 2024; and January 15, 2025. Fiscal-year taxpayers: Dates vary. PIT-ES ES-3 www.tax.newmexico.gov

File online for free using the Department's Taxpayer Access Point (TAP) at: https://tap.state.nm.us The Department encourages taxpayers to file electronically when possible. Filing your return online allows for faster return processing which can result in quicker refunds.

* This column must also be used by surviving spouse 2023 TAX RATE TABLE Based on Taxable Income More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household Example: Mr. and Mrs. Brown are filing a joint return. Their New Mexico Taxable Income on line 17 of the Form PIT-1 is $25,325. First they find the $25,300-$25,400 income line. Next they find the column for Married Filing Jointly and read down the column. The amount shown where the income line and filing status column meet is $834. This is the tax amount they must write on line 18 of the Form PIT-1. Your tax is: 25,200 25,300 958 829 1,033 829 25,300 25,400 963 834 1,038 834 25,400 25,500 968 839 1,043 839 25,500 25,600 972 844 1,048 844 If line 17 of Form PIT-1 (Taxable Income) is: And you are: If line 17 of Form PIT-1 (Taxable Income) is: And you are: If line 17 of Form PIT-1 (Taxable Income) is: And you are: More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household Your tax is: Your tax is: Your tax is: 0 60 0 0 0 0 4,000 8,000 60 100 1 1 1 1 4,000 4,100 69 69 70 69 8,000 8,100 175 138 198 138 100 200 3 3 3 3 4,100 4,200 71 71 73 71 8,100 8,200 178 141 203 141 200 300 4 4 4 4 4,200 4,300 72 72 76 72 8,200 8,300 182 144 208 144 300 400 6 6 6 6 4,300 4,400 74 74 79 74 8,300 8,400 185 147 212 147 400 500 8 8 8 8 4,400 4,500 76 76 82 76 8,400 8,500 188 150 217 150 500 600 9 9 9 9 4,500 4,600 77 77 86 77 8,500 8,600 191 154 222 154 600 700 11 11 11 11 4,600 4,700 79 79 89 79 8,600 8,700 194 157 227 157 700 800 13 13 13 13 4,700 4,800 81 81 92 81 8,700 8,800 198 160 231 160 800 900 14 14 14 14 4,800 4,900 82 82 95 82 8,800 8,900 201 163 236 163 900 1,000 16 16 16 16 4,900 5,000 84 84 98 84 8,900 9,000 204 166 241 166 1,000 5,000 9,000 1,000 1,100 18 18 18 18 5,000 5,100 86 86 102 86 9,000 9,100 207 170 245 170 1,100 1,200 20 20 20 20 5,100 5,200 88 88 105 88 9,100 9,200 210 173 250 173 1,200 1,300 21 21 21 21 5,200 5,300 89 89 108 89 9,200 9,300 214 176 255 176 1,300 1,400 23 23 23 23 5,300 5,400 91 91 111 91 9,300 9,400 217 179 259 179 1,400 1,500 25 25 25 25 5,400 5,500 93 93 114 93 9,400 9,500 220 182 264 182 1,500 1,600 26 26 26 26 5,500 5,600 95 94 118 94 9,500 9,600 223 186 269 186 1,600 1,700 28 28 28 28 5,600 5,700 98 96 121 96 9,600 9,700 226 189 274 189 1,700 1,800 30 30 30 30 5,700 5,800 102 98 124 98 9,700 9,800 230 192 278 192 1,800 1,900 31 31 31 31 5,800 5,900 105 99 127 99 9,800 9,900 233 195 283 195 1,900 2,000 33 33 33 33 5,900 6,000 108 101 130 101 9,900 10,000 236 198 288 198 2,000 6,000 10,000 2,000 2,100 35 35 35 35 6,000 6,100 111 103 134 103 10,000 10,100 239 202 292 202 2,100 2,200 37 37 37 37 6,100 6,200 114 105 137 105 10,100 10,200 242 205 297 205 2,200 2,300 38 38 38 38 6,200 6,300 118 106 140 106 10,200 10,300 246 208 302 208 2,300 2,400 40 40 40 40 6,300 6,400 121 108 143 108 10,300 10,400 249 211 306 211 2,400 2,500 42 42 42 42 6,400 6,500 124 110 146 110 10,400 10,500 252 214 311 214 2,500 2,600 43 43 43 43 6,500 6,600 127 111 150 111 10,500 10,600 255 218 316 218 2,600 2,700 45 45 45 45 6,600 6,700 130 113 153 113 10,600 10,700 258 221 321 221 2,700 2,800 47 47 47 47 6,700 6,800 134 115 156 115 10,700 10,800 262 224 325 224 2,800 2,900 48 48 48 48 6,800 6,900 137 116 159 116 10,800 10,900 265 227 330 227 2,900 3,000 50 50 50 50 6,900 7,000 140 118 162 118 10,900 11,000 268 230 335 230 3,000 7,000 11,000 3,000 3,100 52 52 52 52 7,000 7,100 143 120 166 120 11,000 11,100 272 234 339 234 3,100 3,200 54 54 54 54 7,100 7,200 146 122 169 122 11,100 11,200 277 237 344 237 3,200 3,300 55 55 55 55 7,200 7,300 150 123 172 123 11,200 11,300 281 240 349 240 3,300 3,400 57 57 57 57 7,300 7,400 153 125 175 125 11,300 11,400 286 243 353 243 3,400 3,500 59 59 59 59 7,400 7,500 156 127 178 127 11,400 11,500 291 246 358 246 3,500 3,600 60 60 60 60 7,500 7,600 159 128 182 128 11,500 11,600 295 250 363 250 3,600 3,700 62 62 62 62 7,600 7,700 162 130 185 130 11,600 11,700 300 253 368 253 3,700 3,800 64 64 64 64 7,700 7,800 166 132 188 132 11,700 11,800 305 256 372 256 3,800 3,900 65 65 65 65 7,800 7,900 169 133 191 133 11,800 11,900 309 259 377 259 3,900 4,000 67 67 67 67 7,900 8,000 172 135 194 135 11,900 12,000 314 262 382 262 PIT-TRT T-1 www.tax.newmexico.gov

* This column must also be used by surviving spouse If line 17 of Form PIT-1 (Taxable Income) is: And you are: If line 17 of Form PIT-1 (Taxable Income) is: And you are: If line 17 of Form PIT-1 (Taxable Income) is: And you are: More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household Your tax is: Your tax is: Your tax is: 12,000 18,000 24,000 12,000 12,100 319 266 386 266 18,000 18,100 605 488 680 488 24,000 24,100 899 770 974 770 12,100 12,200 324 269 391 269 18,100 18,200 610 493 685 493 24,100 24,200 904 775 979 775 12,200 12,300 328 272 396 272 18,200 18,300 615 498 690 498 24,200 24,300 909 780 984 780 12,300 12,400 333 275 401 275 18,300 18,400 620 502 695 502 24,300 24,400 914 785 989 785 12,400 12,500 338 278 406 278 18,400 18,500 625 507 700 507 24,400 24,500 919 790 994 790 12,500 12,600 342 282 411 282 18,500 18,600 629 512 705 512 24,500 24,600 923 795 999 795 12,600 12,700 347 285 416 285 18,600 18,700 634 517 710 517 24,600 24,700 928 800 1,004 800 12,700 12,800 352 288 421 288 18,700 18,800 639 521 715 521 24,700 24,800 933 805 1,009 805 12,800 12,900 356 291 426 291 18,800 18,900 644 526 720 526 24,800 24,900 938 810 1,014 810 12,900 13,000 361 294 431 294 18,900 19,000 649 531 725 531 24,900 25,000 943 815 1,019 815 13,000 19,000 25,000 13,000 13,100 366 298 435 298 19,000 19,100 654 535 729 535 25,000 25,100 948 819 1,023 819 13,100 13,200 371 301 440 301 19,100 19,200 659 540 734 540 25,100 25,200 953 824 1,028 824 13,200 13,300 375 304 445 304 19,200 19,300 664 545 739 545 25,200 25,300 958 829 1,033 829 13,300 13,400 380 307 450 307 19,300 19,400 669 549 744 549 25,300 25,400 963 834 1,038 834 13,400 13,500 385 310 455 310 19,400 19,500 674 554 749 554 25,400 25,500 968 839 1,043 839 13,500 13,600 389 314 460 314 19,500 19,600 678 559 754 559 25,500 25,600 972 844 1,048 844 13,600 13,700 394 317 465 317 19,600 19,700 683 564 759 564 25,600 25,700 977 849 1,053 849 13,700 13,800 399 320 470 320 19,700 19,800 688 568 764 568 25,700 25,800 982 854 1,058 854 13,800 13,900 403 323 475 323 19,800 19,900 693 573 769 573 25,800 25,900 987 859 1,063 859 13,900 14,000 408 326 480 326 19,900 20,000 698 578 774 578 25,900 26,000 992 864 1,068 864 14,000 20,000 26,000 14,000 14,100 413 330 484 330 20,000 20,100 703 582 778 582 26,000 26,100 997 868 1,072 868 14,100 14,200 418 333 489 333 20,100 20,200 708 587 783 587 26,100 26,200 1,002 873 1,077 873 14,200 14,300 422 336 494 336 20,200 20,300 713 592 788 592 26,200 26,300 1,007 878 1,082 878 14,300 14,400 427 339 499 339 20,300 20,400 718 596 793 596 26,300 26,400 1,012 883 1,087 883 14,400 14,500 432 342 504 342 20,400 20,500 723 601 798 601 26,400 26,500 1,017 888 1,092 888 14,500 14,600 436 346 509 346 20,500 20,600 727 606 803 606 26,500 26,600 1,021 893 1,097 893 14,600 14,700 441 349 514 349 20,600 20,700 732 611 808 611 26,600 26,700 1,026 898 1,102 898 14,700 14,800 446 352 519 352 20,700 20,800 737 615 813 615 26,700 26,800 1,031 903 1,107 903 14,800 14,900 450 355 524 355 20,800 20,900 742 620 818 620 26,800 26,900 1,036 908 1,112 908 14,900 15,000 455 358 529 358 20,900 21,000 747 625 823 625 26,900 27,000 1,041 913 1,117 913 15,000 21,000 27,000 15,000 15,100 460 362 533 362 21,000 21,100 752 629 827 629 27,000 27,100 1,046 917 1,121 917 15,100 15,200 465 365 538 365 21,100 21,200 757 634 832 634 27,100 27,200 1,051 922 1,126 922 15,200 15,300 469 368 543 368 21,200 21,300 762 639 837 639 27,200 27,300 1,056 927 1,131 927 15,300 15,400 474 371 548 371 21,300 21,400 767 643 842 643 27,300 27,400 1,061 932 1,136 932 15,400 15,500 479 374 553 374 21,400 21,500 772 648 847 648 27,400 27,500 1,066 937 1,141 937 15,500 15,600 483 378 558 378 21,500 21,600 776 653 852 653 27,500 27,600 1,070 942 1,146 942 15,600 15,700 488 381 563 381 21,600 21,700 781 658 857 658 27,600 27,700 1,075 947 1,151 947 15,700 15,800 493 384 568 384 21,700 21,800 786 662 862 662 27,700 27,800 1,080 952 1,156 952 15,800 15,900 497 387 573 387 21,800 21,900 791 667 867 667 27,800 27,900 1,085 957 1,161 957 15,900 16,000 502 390 578 390 21,900 22,000 796 672 872 672 27,900 28,000 1,090 962 1,166 962 16,000 22,000 28,000 16,000 16,100 507 394 582 394 22,000 22,100 801 676 876 676 28,000 28,100 1,095 966 1,170 966 16,100 16,200 512 399 587 399 22,100 22,200 806 681 881 681 28,100 28,200 1,100 971 1,175 971 16,200 16,300 517 404 592 404 22,200 22,300 811 686 886 686 28,200 28,300 1,105 976 1,180 976 16,300 16,400 522 408 597 408 22,300 22,400 816 690 891 690 28,300 28,400 1,110 981 1,185 981 16,400 16,500 527 413 602 413 22,400 22,500 821 695 896 695 28,400 28,500 1,115 986 1,190 986 16,500 16,600 531 418 607 418 22,500 22,600 825 700 901 700 28,500 28,600 1,119 991 1,195 991 16,600 16,700 536 423 612 423 22,600 22,700 830 705 906 705 28,600 28,700 1,124 996 1,200 996 16,700 16,800 541 427 617 427 22,700 22,800 835 709 911 709 28,700 28,800 1,129 1,001 1,205 1,001 16,800 16,900 546 432 622 432 22,800 22,900 840 714 916 714 28,800 28,900 1,134 1,006 1,210 1,006 16,900 17,000 551 437 627 437 22,900 23,000 845 719 921 719 28,900 29,000 1,139 1,011 1,215 1,011 17,000 23,000 29,000 17,000 17,100 556 441 631 441 23,000 23,100 850 723 925 723 29,000 29,100 1,144 1,015 1,219 1,015 17,100 17,200 561 446 636 446 23,100 23,200 855 728 930 728 29,100 29,200 1,149 1,020 1,224 1,020 17,200 17,300 566 451 641 451 23,200 23,300 860 733 935 733 29,200 29,300 1,154 1,025 1,229 1,025 17,300 17,400 571 455 646 455 23,300 23,400 865 737 940 737 29,300 29,400 1,159 1,030 1,234 1,030 17,400 17,500 576 460 651 460 23,400 23,500 870 742 945 742 29,400 29,500 1,164 1,035 1,239 1,035 17,500 17,600 580 465 656 465 23,500 23,600 874 747 950 747 29,500 29,600 1,168 1,040 1,244 1,040 17,600 17,700 585 470 661 470 23,600 23,700 879 752 955 752 29,600 29,700 1,173 1,045 1,249 1,045 17,700 17,800 590 474 666 474 23,700 23,800 884 756 960 756 29,700 29,800 1,178 1,050 1,254 1,050 17,800 17,900 595 479 671 479 23,800 23,900 889 761 965 761 29,800 29,900 1,183 1,055 1,259 1,055 17,900 18,000 600 484 676 484 23,900 24,000 894 766 970 766 29,900 30,000 1,188 1,060 1,264 1,060 PIT-TRT T-2 www.tax.newmexico.gov

* This column must also be used by surviving spouse If line 17 of Form PIT-1 (Taxable Income) is: And you are: If line 17 of Form PIT-1 (Taxable Income) is: And you are: If line 17 of Form PIT-1 (Taxable Income) is: And you are: More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household Your tax is: Your tax is: Your tax is: 30,000 36,000 42,000 30,000 30,100 1,193 1,064 1,268 1,064 36,000 36,100 1,487 1,358 1,562 1,358 42,000 42,100 1,781 1,652 1,856 1,652 30,100 30,200 1,198 1,069 1,273 1,069 36,100 36,200 1,492 1,363 1,567 1,363 42,100 42,200 1,786 1,657 1,861 1,657 30,200 30,300 1,203 1,074 1,278 1,074 36,200 36,300 1,497 1,368 1,572 1,368 42,200 42,300 1,791 1,662 1,866 1,662 30,300 30,400 1,208 1,079 1,283 1,079 36,300 36,400 1,502 1,373 1,577 1,373 42,300 42,400 1,796 1,667 1,871 1,667 30,400 30,500 1,213 1,084 1,288 1,084 36,400 36,500 1,507 1,378 1,582 1,378 42,400 42,500 1,801 1,672 1,876 1,672 30,500 30,600 1,217 1,089 1,293 1,089 36,500 36,600 1,511 1,383 1,587 1,383 42,500 42,600 1,805 1,677 1,881 1,677 30,600 30,700 1,222 1,094 1,298 1,094 36,600 36,700 1,516 1,388 1,592 1,388 42,600 42,700 1,810 1,682 1,886 1,682 30,700 30,800 1,227 1,099 1,303 1,099 36,700 36,800 1,521 1,393 1,597 1,393 42,700 42,800 1,815 1,687 1,891 1,687 30,800 30,900 1,232 1,104 1,308 1,104 36,800 36,900 1,526 1,398 1,602 1,398 42,800 42,900 1,820 1,692 1,896 1,692 30,900 31,000 1,237 1,109 1,313 1,109 36,900 37,000 1,531 1,403 1,607 1,403 42,900 43,000 1,825 1,697 1,901 1,697 31,000 37,000 43,000 31,000 31,100 1,242 1,113 1,317 1,113 37,000 37,100 1,536 1,407 1,611 1,407 43,000 43,100 1,830 1,701 1,905 1,701 31,100 31,200 1,247 1,118 1,322 1,118 37,100 37,200 1,541 1,412 1,616 1,412 43,100 43,200 1,835 1,706 1,910 1,706 31,200 31,300 1,252 1,123 1,327 1,123 37,200 37,300 1,546 1,417 1,621 1,417 43,200 43,300 1,840 1,711 1,915 1,711 31,300 31,400 1,257 1,128 1,332 1,128 37,300 37,400 1,551 1,422 1,626 1,422 43,300 43,400 1,845 1,716 1,920 1,716 31,400 31,500 1,262 1,133 1,337 1,133 37,400 37,500 1,556 1,427 1,631 1,427 43,400 43,500 1,850 1,721 1,925 1,721 31,500 31,600 1,266 1,138 1,342 1,138 37,500 37,600 1,560 1,432 1,636 1,432 43,500 43,600 1,854 1,726 1,930 1,726 31,600 31,700 1,271 1,143 1,347 1,143 37,600 37,700 1,565 1,437 1,641 1,437 43,600 43,700 1,859 1,731 1,935 1,731 31,700 31,800 1,276 1,148 1,352 1,148 37,700 37,800 1,570 1,442 1,646 1,442 43,700 43,800 1,864 1,736 1,940 1,736 31,800 31,900 1,281 1,153 1,357 1,153 37,800 37,900 1,575 1,447 1,651 1,447 43,800 43,900 1,869 1,741 1,945 1,741 31,900 32,000 1,286 1,158 1,362 1,158 37,900 38,000 1,580 1,452 1,656 1,452 43,900 44,000 1,874 1,746 1,950 1,746 32,000 38,000 44,000 32,000 32,100 1,291 1,162 1,366 1,162 38,000 38,100 1,585 1,456 1,660 1,456 44,000 44,100 1,879 1,750 1,954 1,750 32,100 32,200 1,296 1,167 1,371 1,167 38,100 38,200 1,590 1,461 1,665 1,461 44,100 44,200 1,884 1,755 1,959 1,755 32,200 32,300 1,301 1,172 1,376 1,172 38,200 38,300 1,595 1,466 1,670 1,466 44,200 44,300 1,889 1,760 1,964 1,760 32,300 32,400 1,306 1,177 1,381 1,177 38,300 38,400 1,600 1,471 1,675 1,471 44,300 44,400 1,894 1,765 1,969 1,765 32,400 32,500 1,311 1,182 1,386 1,182 38,400 38,500 1,605 1,476 1,680 1,476 44,400 44,500 1,899 1,770 1,974 1,770 32,500 32,600 1,315 1,187 1,391 1,187 38,500 38,600 1,609 1,481 1,685 1,481 44,500 44,600 1,903 1,775 1,979 1,775 32,600 32,700 1,320 1,192 1,396 1,192 38,600 38,700 1,614 1,486 1,690 1,486 44,600 44,700 1,908 1,780 1,984 1,780 32,700 32,800 1,325 1,197 1,401 1,197 38,700 38,800 1,619 1,491 1,695 1,491 44,700 44,800 1,913 1,785 1,989 1,785 32,800 32,900 1,330 1,202 1,406 1,202 38,800 38,900 1,624 1,496 1,700 1,496 44,800 44,900 1,918 1,790 1,994 1,790 32,900 33,000 1,335 1,207 1,411 1,207 38,900 39,000 1,629 1,501 1,705 1,501 44,900 45,000 1,923 1,795 1,999 1,795 33,000 39,000 45,000 33,000 33,100 1,340 1,211 1,415 1,211 39,000 39,100 1,634 1,505 1,709 1,505 45,000 45,100 1,928 1,799 2,003 1,799 33,100 33,200 1,345 1,216 1,420 1,216 39,100 39,200 1,639 1,510 1,714 1,510 45,100 45,200 1,933 1,804 2,008 1,804 33,200 33,300 1,350 1,221 1,425 1,221 39,200 39,300 1,644 1,515 1,719 1,515 45,200 45,300 1,938 1,809 2,013 1,809 33,300 33,400 1,355 1,226 1,430 1,226 39,300 39,400 1,649 1,520 1,724 1,520 45,300 45,400 1,943 1,814 2,018 1,814 33,400 33,500 1,360 1,231 1,435 1,231 39,400 39,500 1,654 1,525 1,729 1,525 45,400 45,500 1,948 1,819 2,023 1,819 33,500 33,600 1,364 1,236 1,440 1,236 39,500 39,600 1,658 1,530 1,734 1,530 45,500 45,600 1,952 1,824 2,028 1,824 33,600 33,700 1,369 1,241 1,445 1,241 39,600 39,700 1,663 1,535 1,739 1,535 45,600 45,700 1,957 1,829 2,033 1,829 33,700 33,800 1,374 1,246 1,450 1,246 39,700 39,800 1,668 1,540 1,744 1,540 45,700 45,800 1,962 1,834 2,038 1,834 33,800 33,900 1,379 1,251 1,455 1,251 39,800 39,900 1,673 1,545 1,749 1,545 45,800 45,900 1,967 1,839 2,043 1,839 33,900 34,000 1,384 1,256 1,460 1,256 39,900 40,000 1,678 1,550 1,754 1,550 45,900 46,000 1,972 1,844 2,048 1,844 34,000 40,000 46,000 34,000 34,100 1,389 1,260 1,464 1,260 40,000 40,100 1,683 1,554 1,758 1,554 46,000 46,100 1,977 1,848 2,052 1,848 34,100 34,200 1,394 1,265 1,469 1,265 40,100 40,200 1,688 1,559 1,763 1,559 46,100 46,200 1,982 1,853 2,057 1,853 34,200 34,300 1,399 1,270 1,474 1,270 40,200 40,300 1,693 1,564 1,768 1,564 46,200 46,300 1,987 1,858 2,062 1,858 34,300 34,400 1,404 1,275 1,479 1,275 40,300 40,400 1,698 1,569 1,773 1,569 46,300 46,400 1,992 1,863 2,067 1,863 34,400 34,500 1,409 1,280 1,484 1,280 40,400 40,500 1,703 1,574 1,778 1,574 46,400 46,500 1,997 1,868 2,072 1,868 34,500 34,600 1,413 1,285 1,489 1,285 40,500 40,600 1,707 1,579 1,783 1,579 46,500 46,600 2,001 1,873 2,077 1,873 34,600 34,700 1,418 1,290 1,494 1,290 40,600 40,700 1,712 1,584 1,788 1,584 46,600 46,700 2,006 1,878 2,082 1,878 34,700 34,800 1,423 1,295 1,499 1,295 40,700 40,800 1,717 1,589 1,793 1,589 46,700 46,800 2,011 1,883 2,087 1,883 34,800 34,900 1,428 1,300 1,504 1,300 40,800 40,900 1,722 1,594 1,798 1,594 46,800 46,900 2,016 1,888 2,092 1,888 34,900 35,000 1,433 1,305 1,509 1,305 40,900 41,000 1,727 1,599 1,803 1,599 46,900 47,000 2,021 1,893 2,097 1,893 35,000 41,000 47,000 35,000 35,100 1,438 1,309 1,513 1,309 41,000 41,100 1,732 1,603 1,807 1,603 47,000 47,100 2,026 1,897 2,101 1,897 35,100 35,200 1,443 1,314 1,518 1,314 41,100 41,200 1,737 1,608 1,812 1,608 47,100 47,200 2,031 1,902 2,106 1,902 35,200 35,300 1,448 1,319 1,523 1,319 41,200 41,300 1,742 1,613 1,817 1,613 47,200 47,300 2,036 1,907 2,111 1,907 35,300 35,400 1,453 1,324 1,528 1,324 41,300 41,400 1,747 1,618 1,822 1,618 47,300 47,400 2,041 1,912 2,116 1,912 35,400 35,500 1,458 1,329 1,533 1,329 41,400 41,500 1,752 1,623 1,827 1,623 47,400 47,500 2,046 1,917 2,121 1,917 35,500 35,600 1,462 1,334 1,538 1,334 41,500 41,600 1,756 1,628 1,832 1,628 47,500 47,600 2,050 1,922 2,126 1,922 35,600 35,700 1,467 1,339 1,543 1,339 41,600 41,700 1,761 1,633 1,837 1,633 47,600 47,700 2,055 1,927 2,131 1,927 35,700 35,800 1,472 1,344 1,548 1,344 41,700 41,800 1,766 1,638 1,842 1,638 47,700 47,800 2,060 1,932 2,136 1,932 35,800 35,900 1,477 1,349 1,553 1,349 41,800 41,900 1,771 1,643 1,847 1,643 47,800 47,900 2,065 1,937 2,141 1,937 35,900 36,000 1,482 1,354 1,558 1,354 41,900 42,000 1,776 1,648 1,852 1,648 47,900 48,000 2,070 1,942 2,146 1,942 PIT-TRT T-3 www.tax.newmexico.gov

* This column must also be used by surviving spouse If line 17 of Form PIT-1 (Taxable Income) is: And you are: If line 17 of Form PIT-1 (Taxable Income) is: And you are: If line 17 of Form PIT-1 (Taxable Income) is: And you are: More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household Your tax is: Your tax is: Your tax is: 48,000 54,000 60,000 48,000 48,100 2,075 1,946 2,150 1,946 54,000 54,100 2,369 2,240 2,444 2,240 60,000 60,100 2,663 2,534 2,738 2,534 48,100 48,200 2,080 1,951 2,155 1,951 54,100 54,200 2,374 2,245 2,449 2,245 60,100 60,200 2,668 2,539 2,743 2,539 48,200 48,300 2,085 1,956 2,160 1,956 54,200 54,300 2,379 2,250 2,454 2,250 60,200 60,300 2,673 2,544 2,748 2,544 48,300 48,400 2,090 1,961 2,165 1,961 54,300 54,400 2,384 2,255 2,459 2,255 60,300 60,400 2,678 2,549 2,753 2,549 48,400 48,500 2,095 1,966 2,170 1,966 54,400 54,500 2,389 2,260 2,464 2,260 60,400 60,500 2,683 2,554 2,758 2,554 48,500 48,600 2,099 1,971 2,175 1,971 54,500 54,600 2,393 2,265 2,469 2,265 60,500 60,600 2,687 2,559 2,763 2,559 48,600 48,700 2,104 1,976 2,180 1,976 54,600 54,700 2,398 2,270 2,474 2,270 60,600 60,700 2,692 2,564 2,768 2,564 48,700 48,800 2,109 1,981 2,185 1,981 54,700 54,800 2,403 2,275 2,479 2,275 60,700 60,800 2,697 2,569 2,773 2,569 48,800 48,900 2,114 1,986 2,190 1,986 54,800 54,900 2,408 2,280 2,484 2,280 60,800 60,900 2,702 2,574 2,778 2,574 48,900 49,000 2,119 1,991 2,195 1,991 54,900 55,000 2,413 2,285 2,489 2,285 60,900 61,000 2,707 2,579 2,783 2,579 49,000 55,000 61,000 49,000 49,100 2,124 1,995 2,199 1,995 55,000 55,100 2,418 2,289 2,493 2,289 61,000 61,100 2,712 2,583 2,787 2,583 49,100 49,200 2,129 2,000 2,204 2,000 55,100 55,200 2,423 2,294 2,498 2,294 61,100 61,200 2,717 2,588 2,792 2,588 49,200 49,300 2,134 2,005 2,209 2,005 55,200 55,300 2,428 2,299 2,503 2,299 61,200 61,300 2,722 2,593 2,797 2,593 49,300 49,400 2,139 2,010 2,214 2,010 55,300 55,400 2,433 2,304 2,508 2,304 61,300 61,400 2,727 2,598 2,802 2,598 49,400 49,500 2,144 2,015 2,219 2,015 55,400 55,500 2,438 2,309 2,513 2,309 61,400 61,500 2,732 2,603 2,807 2,603 49,500 49,600 2,148 2,020 2,224 2,020 55,500 55,600 2,442 2,314 2,518 2,314 61,500 61,600 2,736 2,608 2,812 2,608 49,600 49,700 2,153 2,025 2,229 2,025 55,600 55,700 2,447 2,319 2,523 2,319 61,600 61,700 2,741 2,613 2,817 2,613 49,700 49,800 2,158 2,030 2,234 2,030 55,700 55,800 2,452 2,324 2,528 2,324 61,700 61,800 2,746 2,618 2,822 2,618 49,800 49,900 2,163 2,035 2,239 2,035 55,800 55,900 2,457 2,329 2,533 2,329 61,800 61,900 2,751 2,623 2,827 2,623 49,900 50,000 2,168 2,040 2,244 2,040 55,900 56,000 2,462 2,334 2,538 2,334 61,900 62,000 2,756 2,628 2,832 2,628 50,000 56,000 62,000 50,000 50,100 2,173 2,044 2,248 2,044 56,000 56,100 2,467 2,338 2,542 2,338 62,000 62,100 2,761 2,632 2,836 2,632 50,100 50,200 2,178 2,049 2,253 2,049 56,100 56,200 2,472 2,343 2,547 2,343 62,100 62,200 2,766 2,637 2,841 2,637 50,200 50,300 2,183 2,054 2,258 2,054 56,200 56,300 2,477 2,348 2,552 2,348 62,200 62,300 2,771 2,642 2,846 2,642 50,300 50,400 2,188 2,059 2,263 2,059 56,300 56,400 2,482 2,353 2,557 2,353 62,300 62,400 2,776 2,647 2,851 2,647 50,400 50,500 2,193 2,064 2,268 2,064 56,400 56,500 2,487 2,358 2,562 2,358 62,400 62,500 2,781 2,652 2,856 2,652 50,500 50,600 2,197 2,069 2,273 2,069 56,500 56,600 2,491 2,363 2,567 2,363 62,500 62,600 2,785 2,657 2,861 2,657 50,600 50,700 2,202 2,074 2,278 2,074 56,600 56,700 2,496 2,368 2,572 2,368 62,600 62,700 2,790 2,662 2,866 2,662 50,700 50,800 2,207 2,079 2,283 2,079 56,700 56,800 2,501 2,373 2,577 2,373 62,700 62,800 2,795 2,667 2,871 2,667 50,800 50,900 2,212 2,084 2,288 2,084 56,800 56,900 2,506 2,378 2,582 2,378 62,800 62,900 2,800 2,672 2,876 2,672 50,900 51,000 2,217 2,089 2,293 2,089 56,900 57,000 2,511 2,383 2,587 2,383 62,900 63,000 2,805 2,677 2,881 2,677 51,000 57,000 63,000 51,000 51,100 2,222 2,093 2,297 2,093 57,000 57,100 2,516 2,387 2,591 2,387 63,000 63,100 2,810 2,681 2,885 2,681 51,100 51,200 2,227 2,098 2,302 2,098 57,100 57,200 2,521 2,392 2,596 2,392 63,100 63,200 2,815 2,686 2,890 2,686 51,200 51,300 2,232 2,103 2,307 2,103 57,200 57,300 2,526 2,397 2,601 2,397 63,200 63,300 2,820 2,691 2,895 2,691 51,300 51,400 2,237 2,108 2,312 2,108 57,300 57,400 2,531 2,402 2,606 2,402 63,300 63,400 2,825 2,696 2,900 2,696 51,400 51,500 2,242 2,113 2,317 2,113 57,400 57,500 2,536 2,407 2,611 2,407 63,400 63,500 2,830 2,701 2,905 2,701 51,500 51,600 2,246 2,118 2,322 2,118 57,500 57,600 2,540 2,412 2,616 2,412 63,500 63,600 2,834 2,706 2,910 2,706 51,600 51,700 2,251 2,123 2,327 2,123 57,600 57,700 2,545 2,417 2,621 2,417 63,600 63,700 2,839 2,711 2,915 2,711 51,700 51,800 2,256 2,128 2,332 2,128 57,700 57,800 2,550 2,422 2,626 2,422 63,700 63,800 2,844 2,716 2,920 2,716 51,800 51,900 2,261 2,133 2,337 2,133 57,800 57,900 2,555 2,427 2,631 2,427 63,800 63,900 2,849 2,721 2,925 2,721 51,900 52,000 2,266 2,138 2,342 2,138 57,900 58,000 2,560 2,432 2,636 2,432 63,900 64,000 2,854 2,726 2,930 2,726 52,000 58,000 64,000 52,000 52,100 2,271 2,142 2,346 2,142 58,000 58,100 2,565 2,436 2,640 2,436 64,000 64,100 2,859 2,730 2,934 2,730 52,100 52,200 2,276 2,147 2,351 2,147 58,100 58,200 2,570 2,441 2,645 2,441 64,100 64,200 2,864 2,735 2,939 2,735 52,200 52,300 2,281 2,152 2,356 2,152 58,200 58,300 2,575 2,446 2,650 2,446 64,200 64,300 2,869 2,740 2,944 2,740 52,300 52,400 2,286 2,157 2,361 2,157 58,300 58,400 2,580 2,451 2,655 2,451 64,300 64,400 2,874 2,745 2,949 2,745 52,400 52,500 2,291 2,162 2,366 2,162 58,400 58,500 2,585 2,456 2,660 2,456 64,400 64,500 2,879 2,750 2,954 2,750 52,500 52,600 2,295 2,167 2,371 2,167 58,500 58,600 2,589 2,461 2,665 2,461 64,500 64,600 2,883 2,755 2,959 2,755 52,600 52,700 2,300 2,172 2,376 2,172 58,600 58,700 2,594 2,466 2,670 2,466 64,600 64,700 2,888 2,760 2,964 2,760 52,700 52,800 2,305 2,177 2,381 2,177 58,700 58,800 2,599 2,471 2,675 2,471 64,700 64,800 2,893 2,765 2,969 2,765 52,800 52,900 2,310 2,182 2,386 2,182 58,800 58,900 2,604 2,476 2,680 2,476 64,800 64,900 2,898 2,770 2,974 2,770 52,900 53,000 2,315 2,187 2,391 2,187 58,900 59,000 2,609 2,481 2,685 2,481 64,900 65,000 2,903 2,775 2,979 2,775 53,000 59,000 65,000 53,000 53,100 2,320 2,191 2,395 2,191 59,000 59,100 2,614 2,485 2,689 2,485 65,000 65,100 2,908 2,779 2,983 2,779 53,100 53,200 2,325 2,196 2,400 2,196 59,100 59,200 2,619 2,490 2,694 2,490 65,100 65,200 2,913 2,784 2,988 2,784 53,200 53,300 2,330 2,201 2,405 2,201 59,200 59,300 2,624 2,495 2,699 2,495 65,200 65,300 2,918 2,789 2,993 2,789 53,300 53,400 2,335 2,206 2,410 2,206 59,300 59,400 2,629 2,500 2,704 2,500 65,300 65,400 2,923 2,794 2,998 2,794 53,400 53,500 2,340 2,211 2,415 2,211 59,400 59,500 2,634 2,505 2,709 2,505 65,400 65,500 2,928 2,799 3,003 2,799 53,500 53,600 2,344 2,216 2,420 2,216 59,500 59,600 2,638 2,510 2,714 2,510 65,500 65,600 2,932 2,804 3,008 2,804 53,600 53,700 2,349 2,221 2,425 2,221 59,600 59,700 2,643 2,515 2,719 2,515 65,600 65,700 2,937 2,809 3,013 2,809 53,700 53,800 2,354 2,226 2,430 2,226 59,700 59,800 2,648 2,520 2,724 2,520 65,700 65,800 2,942 2,814 3,018 2,814 53,800 53,900 2,359 2,231 2,435 2,231 59,800 59,900 2,653 2,525 2,729 2,525 65,800 65,900 2,947 2,819 3,023 2,819 53,900 54,000 2,364 2,236 2,440 2,236 59,900 60,000 2,658 2,530 2,734 2,530 65,900 66,000 2,952 2,824 3,028 2,824 PIT-TRT T-4 www.tax.newmexico.gov

* This column must also be used by surviving spouse If line 17 of Form PIT-1 (Taxable Income) is: And you are: If line 17 of Form PIT-1 (Taxable Income) is: And you are: If line 17 of Form PIT-1 (Taxable Income) is: And you are: More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household Your tax is: Your tax is: Your tax is: 66,000 72,000 78,000 66,000 66,100 2,957 2,828 3,032 2,828 72,000 72,100 3,251 3,122 3,326 3,122 78,000 78,100 3,545 3,416 3,620 3,416 66,100 66,200 2,962 2,833 3,037 2,833 72,100 72,200 3,256 3,127 3,331 3,127 78,100 78,200 3,550 3,421 3,625 3,421 66,200 66,300 2,967 2,838 3,042 2,838 72,200 72,300 3,261 3,132 3,336 3,132 78,200 78,300 3,555 3,426 3,630 3,426 66,300 66,400 2,972 2,843 3,047 2,843 72,300 72,400 3,266 3,137 3,341 3,137 78,300 78,400 3,560 3,431 3,635 3,431 66,400 66,500 2,977 2,848 3,052 2,848 72,400 72,500 3,271 3,142 3,346 3,142 78,400 78,500 3,565 3,436 3,640 3,436 66,500 66,600 2,981 2,853 3,057 2,853 72,500 72,600 3,275 3,147 3,351 3,147 78,500 78,600 3,569 3,441 3,645 3,441 66,600 66,700 2,986 2,858 3,062 2,858 72,600 72,700 3,280 3,152 3,356 3,152 78,600 78,700 3,574 3,446 3,650 3,446 66,700 66,800 2,991 2,863 3,067 2,863 72,700 72,800 3,285 3,157 3,361 3,157 78,700 78,800 3,579 3,451 3,655 3,451 66,800 66,900 2,996 2,868 3,072 2,868 72,800 72,900 3,290 3,162 3,366 3,162 78,800 78,900 3,584 3,456 3,660 3,456 66,900 67,000 3,001 2,873 3,077 2,873 72,900 73,000 3,295 3,167 3,371 3,167 78,900 79,000 3,589 3,461 3,665 3,461 67,000 73,000 79,000 67,000 67,100 3,006 2,877 3,081 2,877 73,000 73,100 3,300 3,171 3,375 3,171 79,000 79,100 3,594 3,465 3,669 3,465 67,100 67,200 3,011 2,882 3,086 2,882 73,100 73,200 3,305 3,176 3,380 3,176 79,100 79,200 3,599 3,470 3,674 3,470 67,200 67,300 3,016 2,887 3,091 2,887 73,200 73,300 3,310 3,181 3,385 3,181 79,200 79,300 3,604 3,475 3,679 3,475 67,300 67,400 3,021 2,892 3,096 2,892 73,300 73,400 3,315 3,186 3,390 3,186 79,300 79,400 3,609 3,480 3,684 3,480 67,400 67,500 3,026 2,897 3,101 2,897 73,400 73,500 3,320 3,191 3,395 3,191 79,400 79,500 3,614 3,485 3,689 3,485 67,500 67,600 3,030 2,902 3,106 2,902 73,500 73,600 3,324 3,196 3,400 3,196 79,500 79,600 3,618 3,490 3,694 3,490 67,600 67,700 3,035 2,907 3,111 2,907 73,600 73,700 3,329 3,201 3,405 3,201 79,600 79,700 3,623 3,495 3,699 3,495 67,700 67,800 3,040 2,912 3,116 2,912 73,700 73,800 3,334 3,206 3,410 3,206 79,700 79,800 3,628 3,500 3,704 3,500 67,800 67,900 3,045 2,917 3,121 2,917 73,800 73,900 3,339 3,211 3,415 3,211 79,800 79,900 3,633 3,505 3,709 3,505 67,900 68,000 3,050 2,922 3,126 2,922 73,900 74,000 3,344 3,216 3,420 3,216 79,900 80,000 3,638 3,510 3,714 3,510 68,000 74,000 80,000 68,000 68,100 3,055 2,926 3,130 2,926 74,000 74,100 3,349 3,220 3,424 3,220 80,000 80,100 3,643 3,514 3,718 3,514 68,100 68,200 3,060 2,931 3,135 2,931 74,100 74,200 3,354 3,225 3,429 3,225 80,100 80,200 3,648 3,519 3,723 3,519 68,200 68,300 3,065 2,936 3,140 2,936 74,200 74,300 3,359 3,230 3,434 3,230 80,200 80,300 3,653 3,524 3,728 3,524 68,300 68,400 3,070 2,941 3,145 2,941 74,300 74,400 3,364 3,235 3,439 3,235 80,300 80,400 3,658 3,529 3,733 3,529 68,400 68,500 3,075 2,946 3,150 2,946 74,400 74,500 3,369 3,240 3,444 3,240 80,400 80,500 3,663 3,534 3,738 3,534 68,500 68,600 3,079 2,951 3,155 2,951 74,500 74,600 3,373 3,245 3,449 3,245 80,500 80,600 3,667 3,539 3,743 3,539 68,600 68,700 3,084 2,956 3,160 2,956 74,600 74,700 3,378 3,250 3,454 3,250 80,600 80,700 3,672 3,544 3,748 3,544 68,700 68,800 3,089 2,961 3,165 2,961 74,700 74,800 3,383 3,255 3,459 3,255 80,700 80,800 3,677 3,549 3,753 3,549 68,800 68,900 3,094 2,966 3,170 2,966 74,800 74,900 3,388 3,260 3,464 3,260 80,800 80,900 3,682 3,554 3,758 3,554 68,900 69,000 3,099 2,971 3,175 2,971 74,900 75,000 3,393 3,265 3,469 3,265 80,900 81,000 3,687 3,559 3,763 3,559 69,000 75,000 81,000 69,000 69,100 3,104 2,975 3,179 2,975 75,000 75,100 3,398 3,269 3,473 3,269 81,000 81,100 3,692 3,563 3,767 3,563 69,100 69,200 3,109 2,980 3,184 2,980 75,100 75,200 3,403 3,274 3,478 3,274 81,100 81,200 3,697 3,568 3,772 3,568 69,200 69,300 3,114 2,985 3,189 2,985 75,200 75,300 3,408 3,279 3,483 3,279 81,200 81,300 3,702 3,573 3,777 3,573 69,300 69,400 3,119 2,990 3,194 2,990 75,300 75,400 3,413 3,284 3,488 3,284 81,300 81,400 3,707 3,578 3,782 3,578 69,400 69,500 3,124 2,995 3,199 2,995 75,400 75,500 3,418 3,289 3,493 3,289 81,400 81,500 3,712 3,583 3,787 3,583 69,500 69,600 3,128 3,000 3,204 3,000 75,500 75,600 3,422 3,294 3,498 3,294 81,500 81,600 3,716 3,588 3,792 3,588 69,600 69,700 3,133 3,005 3,209 3,005 75,600 75,700 3,427 3,299 3,503 3,299 81,600 81,700 3,721 3,593 3,797 3,593 69,700 69,800 3,138 3,010 3,214 3,010 75,700 75,800 3,432 3,304 3,508 3,304 81,700 81,800 3,726 3,598 3,802 3,598 69,800 69,900 3,143 3,015 3,219 3,015 75,800 75,900 3,437 3,309 3,513 3,309 81,800 81,900 3,731 3,603 3,807 3,603 69,900 70,000 3,148 3,020 3,224 3,020 75,900 76,000 3,442 3,314 3,518 3,314 81,900 82,000 3,736 3,608 3,812 3,608 70,000 76,000 82,000 70,000 70,100 3,153 3,024 3,228 3,024 76,000 76,100 3,447 3,318 3,522 3,318 82,000 82,100 3,741 3,612 3,816 3,612 70,100 70,200 3,158 3,029 3,233 3,029 76,100 76,200 3,452 3,323 3,527 3,323 82,100 82,200 3,746 3,617 3,821 3,617 70,200 70,300 3,163 3,034 3,238 3,034 76,200 76,300 3,457 3,328 3,532 3,328 82,200 82,300 3,751 3,622 3,826 3,622 70,300 70,400 3,168 3,039 3,243 3,039 76,300 76,400 3,462 3,333 3,537 3,333 82,300 82,400 3,756 3,627 3,831 3,627 70,400 70,500 3,173 3,044 3,248 3,044 76,400 76,500 3,467 3,338 3,542 3,338 82,400 82,500 3,761 3,632 3,836 3,632 70,500 70,600 3,177 3,049 3,253 3,049 76,500 76,600 3,471 3,343 3,547 3,343 82,500 82,600 3,765 3,637 3,841 3,637 70,600 70,700 3,182 3,054 3,258 3,054 76,600 76,700 3,476 3,348 3,552 3,348 82,600 82,700 3,770 3,642 3,846 3,642 70,700 70,800 3,187 3,059 3,263 3,059 76,700 76,800 3,481 3,353 3,557 3,353 82,700 82,800 3,775 3,647 3,851 3,647 70,800 70,900 3,192 3,064 3,268 3,064 76,800 76,900 3,486 3,358 3,562 3,358 82,800 82,900 3,780 3,652 3,856 3,652 70,900 71,000 3,197 3,069 3,273 3,069 76,900 77,000 3,491 3,363 3,567 3,363 82,900 83,000 3,785 3,657 3,861 3,657 71,000 77,000 83,000 71,000 71,100 3,202 3,073 3,277 3,073 77,000 77,100 3,496 3,367 3,571 3,367 83,000 83,100 3,790 3,661 3,865 3,661 71,100 71,200 3,207 3,078 3,282 3,078 77,100 77,200 3,501 3,372 3,576 3,372 83,100 83,200 3,795 3,666 3,870 3,666 71,200 71,300 3,212 3,083 3,287 3,083 77,200 77,300 3,506 3,377 3,581 3,377 83,200 83,300 3,800 3,671 3,875 3,671 71,300 71,400 3,217 3,088 3,292 3,088 77,300 77,400 3,511 3,382 3,586 3,382 83,300 83,400 3,805 3,676 3,880 3,676 71,400 71,500 3,222 3,093 3,297 3,093 77,400 77,500 3,516 3,387 3,591 3,387 83,400 83,500 3,810 3,681 3,885 3,681 71,500 71,600 3,226 3,098 3,302 3,098 77,500 77,600 3,520 3,392 3,596 3,392 83,500 83,600 3,814 3,686 3,890 3,686 71,600 71,700 3,231 3,103 3,307 3,103 77,600 77,700 3,525 3,397 3,601 3,397 83,600 83,700 3,819 3,691 3,895 3,691 71,700 71,800 3,236 3,108 3,312 3,108 77,700 77,800 3,530 3,402 3,606 3,402 83,700 83,800 3,824 3,696 3,900 3,696 71,800 71,900 3,241 3,113 3,317 3,113 77,800 77,900 3,535 3,407 3,611 3,407 83,800 83,900 3,829 3,701 3,905 3,701 71,900 72,000 3,246 3,118 3,322 3,118 77,900 78,000 3,540 3,412 3,616 3,412 83,900 84,000 3,834 3,706 3,910 3,706 PIT-TRT T-5 www.tax.newmexico.gov

* This column must also be used by surviving spouse If line 17 of Form PIT-1 (Taxable Income) is: And you are: If line 17 of Form PIT-1 (Taxable Income) is: And you are: If line 17 of Form PIT-1 (Taxable Income) is: And you are: More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household More Than But Not Over Single Married Filing Jointly* Married Filing Separately Head of Household Your tax is: Your tax is: Your tax is: 84,000 88,000 92,000 84,000 84,100 3,839 3,710 3,914 3,710 88,000 88,100 4,035 3,906 4,110 3,906 92,000 92,100 4,231 4,102 4,306 4,102 84,100 84,200 3,844 3,715 3,919 3,715 88,100 88,200 4,040 3,911 4,115 3,911 92,100 92,200 4,236 4,107 4,311 4,107 84,200 84,300 3,849 3,720 3,924 3,720 88,200 88,300 4,045 3,916 4,120 3,916 92,200 92,300 4,241 4,112 4,316 4,112 84,300 84,400 3,854 3,725 3,929 3,725 88,300 88,400 4,050 3,921 4,125 3,921 92,300 92,400 4,246 4,117 4,321 4,117 84,400 84,500 3,859 3,730 3,934 3,730 88,400 88,500 4,055 3,926 4,130 3,926 92,400 92,500 4,251 4,122 4,326 4,122 84,500 84,600 3,863 3,735 3,939 3,735 88,500 88,600 4,059 3,931 4,135 3,931 92,500 92,600 4,255 4,127 4,331 4,127 84,600 84,700 3,868 3,740 3,944 3,740 88,600 88,700 4,064 3,936 4,140 3,936 92,600 92,700 4,260 4,132 4,336 4,132 84,700 84,800 3,873 3,745 3,949 3,745 88,700 88,800 4,069 3,941 4,145 3,941 92,700 92,800 4,265 4,137 4,341 4,137 84,800 84,900 3,878 3,750 3,954 3,750 88,800 88,900 4,074 3,946 4,150 3,946 92,800 92,900 4,270 4,142 4,346 4,142 84,900 85,000 3,883 3,755 3,959 3,755 88,900 89,000 4,079 3,951 4,155 3,951 92,900 93,000 4,275 4,147 4,351 4,147 85,000 89,000 93,000 85,000 85,100 3,888 3,759 3,963 3,759 89,000 89,100 4,084 3,955 4,159 3,955 93,000 93,100 4,280 4,151 4,355 4,151 85,100 85,200 3,893 3,764 3,968 3,764 89,100 89,200 4,089 3,960 4,164 3,960 93,100 93,200 4,285 4,156 4,360 4,156 85,200 85,300 3,898 3,769 3,973 3,769 89,200 89,300 4,094 3,965 4,169 3,965 93,200 93,300 4,290 4,161 4,365 4,161 85,300 85,400 3,903 3,774 3,978 3,774 89,300 89,400 4,099 3,970 4,174 3,970 93,300 93,400 4,295 4,166 4,370 4,166 85,400 85,500 3,908 3,779 3,983 3,779 89,400 89,500 4,104 3,975 4,179 3,975 93,400 93,500 4,300 4,171 4,375 4,171 85,500 85,600 3,912 3,784 3,988 3,784 89,500 89,600 4,108 3,980 4,184 3,980 93,500 93,600 4,304 4,176 4,380 4,176 85,600 85,700 3,917 3,789 3,993 3,789 89,600 89,700 4,113 3,985 4,189 3,985 93,600 93,700 4,309 4,181 4,385 4,181 85,700 85,800 3,922 3,794 3,998 3,794 89,700 89,800 4,118 3,990 4,194 3,990 93,700 93,800 4,314 4,186 4,390 4,186 85,800 85,900 3,927 3,799 4,003 3,799 89,800 89,900 4,123 3,995 4,199 3,995 93,800 93,900 4,319 4,191 4,395 4,191 85,900 86,000 3,932 3,804 4,008 3,804 89,900 90,000 4,128 4,000 4,204 4,000 93,900 94,000 4,324 4,196 4,400 4,196 86,000 90,000 94,000 86,000 86,100 3,937 3,808 4,012 3,808 90,000 90,100 4,133 4,004 4,208 4,004 94,000 94,100 4,329 4,200 4,404 4,200 86,100 86,200 3,942 3,813 4,017 3,813 90,100 90,200 4,138 4,009 4,213 4,009 94,100 94,200 4,334 4,205 4,409 4,205 86,200 86,300 3,947 3,818 4,022 3,818 90,200 90,300 4,143 4,014 4,218 4,014 94,200 94,300 4,339 4,210 4,414 4,210 86,300 86,400 3,952 3,823 4,027 3,823 90,300 90,400 4,148 4,019 4,223 4,019 94,300 94,400 4,344 4,215 4,419 4,215 86,400 86,500 3,957 3,828 4,032 3,828 90,400 90,500 4,153 4,024 4,228 4,024 94,400 94,500 4,349 4,220 4,424 4,220 86,500 86,600 3,961 3,833 4,037 3,833 90,500 90,600 4,157 4,029 4,233 4,029 94,500 94,600 4,353 4,225 4,429 4,225 86,600 86,700 3,966 3,838 4,042 3,838 90,600 90,700 4,162 4,034 4,238 4,034 94,600 94,700 4,358 4,230 4,434 4,230 86,700 86,800 3,971 3,843 4,047 3,843 90,700 90,800 4,167 4,039 4,243 4,039 94,700 94,800 4,363 4,235 4,439 4,235 86,800 86,900 3,976 3,848 4,052 3,848 90,800 90,900 4,172 4,044 4,248 4,044 94,800 94,900 4,368 4,240 4,444 4,240 86,900 87,000 3,981 3,853 4,057 3,853 90,900 91,000 4,177 4,049 4,253 4,049 94,900 95,000 4,373 4,245 4,449 4,245 87,000 91,000 95,000 87,000 87,100 3,986 3,857 4,061 3,857 91,000 91,100 4,182 4,053 4,257 4,053 95,000 95,100 4,378 4,249 4,453 4,249 87,100 87,200 3,991 3,862 4,066 3,862 91,100 91,200 4,187 4,058 4,262 4,058 95,100 95,200 4,383 4,254 4,458 4,254 87,200 87,300 3,996 3,867 4,071 3,867 91,200 91,300 4,192 4,063 4,267 4,063 95,200 95,300 4,388 4,259 4,463 4,259 87,300 87,400 4,001 3,872 4,076 3,872 91,300 91,400 4,197 4,068 4,272 4,068 95,300 95,400 4,393 4,264 4,468 4,264 87,400 87,500 4,006 3,877 4,081 3,877 91,400 91,500 4,202 4,073 4,277 4,073 95,400 95,500 4,398 4,269 4,473 4,269 87,500 87,600 4,010 3,882 4,086 3,882 91,500 91,600 4,206 4,078 4,282 4,078 95,500 95,600 4,402 4,274 4,478 4,274 87,600 87,700 4,015 3,887 4,091 3,887 91,600 91,700 4,211 4,083 4,287 4,083 95,600 95,700 4,407 4,279 4,483 4,279 87,700 87,800 4,020 3,892 4,096 3,892 91,700 91,800 4,216 4,088 4,292 4,088 95,700 95,800 4,412 4,284 4,488 4,284 87,800 87,900 4,025 3,897 4,101 3,897 91,800 91,900 4,221 4,093 4,297 4,093 95,800 95,900 4,417 4,289 4,493 4,289 87,900 88,000 4,030 3,902 4,106 3,902 91,900 92,000 4,226 4,098 4,302 4,098 95,900 96,000 4,422 4,294 4,498 4,294 If line 17 of Form PIT-1 (Taxable Income) is over $96,000 use the following table to compute your tax. If you are: and your taxable income is not over: Your Tax is… plus of taxable income in excess of: Single $210,000 $4,422 4.9% $96,000 Married Filing Jointly $315,000 $4,294 4.9% $96,000 Married Filing Separately $157,500 $4,498 4.9% $96,000 Head of Household $315,000 $4,294 4.9% $96,000 If you are: and your taxable income is over: Your Tax is… plus of taxable income in excess of: Single $210,000 $10,008 5.9% $210,000 Married Filing Jointly $315,000 $15,025 5.9% $315,000 Married Filing Separately $157,500 $7,512 5.9% $157,500 Head of Household $315,000 $15,025 5.9% $315,000 PIT-TRT T-6 www.tax.newmexico.gov

INSTRUCTIONS FOR 2023 PIT-X, NEW MEXICO PERSONAL INCOME TAX AMENDED RETURN WHO MUST FILE AN AMENDED RETURN If you filed your New Mexico personal income tax (PIT-1) return and you need to change at least one of the following, you must file a New Mexico PIT-X, an amended New Mexico personal income tax return: • Your reported federal taxable income • New Mexico taxable income, credits, or rebates • New Mexico tax due At the top right of PIT-X, page 2, next to Reason for amend­ ing, describe the reason you are amending your return. When To Attach Amended Federal Return If your New Mexico amended return shows changes as the result of filing an amended federal return, attach a copy of your federal amended forms and schedules. NOTE: The law requires you to file an amended New Mexico return within 180 days of the date an adjustment to your federal return becomes final. WHAT FORMS TO FILE If you mail your return, use and submit only original, official state forms and schedules. Copies result in delays when processing your return. The specific form to use varies, as described next. 2023 PIT-X For a tax year beginning on or after January 1, 2023, but not after December 31, 2023, file your amended return on the 2023 PIT-X form. 2005 PIT-X to 2023 PIT-X For tax years beginning on or after January 1, 2005, use the PIT-X form for the tax year you are amending. For example, if you are amending tax year 2018, use the 2018 PIT-X form. 2004 PIT-X and Earlier Years For tax years beginning before January 1, 2005, file amended returns using the form for the appropriate tax year. Fiscal Year Returns If you are filing a fiscal year return, use the form for the calendar year when the fiscal period began. Schedules Along with your amended return, you must include all sched­ ules that were previously filed with the original return. For the 2023 return, attach all required 2023 Schedules PIT-S, PIT-ADJ, PIT‑RC, PIT-B, PIT-D, PIT-CR, or PIT‑CR Supplemental. These schedules are required if you show an amount in the 2023 PIT-X AS AMENDED column, even if the amount did not change from the schedule you submitted with your previously filed return. W-2 and Related Forms Unless you are amending your New Mexico return to change the amount of tax withheld, you do not need to file W-2 forms and similar income and withholding information returns. Some examples of similar forms with income and withholding information are 1099‑MISC and RPD-41359. COMPLETING FORM PIT-X To complete the 2023 PIT-X return, you need your previously filed 2023 PIT-1 return and instructions. AS PREVIOUSLY FILED Column In this column, enter the same return figures you filed previ­ ously. If you filed multiple returns for the 2023 tax year, enter only the figures from your most recently filed return. AS AMENDED Column In this column, enter the amended return data through line 30. Complete the line items according to the instructions for the original 2023 PIT-1 return. Complete line 31 using the instructions described later, then continue by entering the amended return data in lines 32 to 34, and lines 36 to 42. Instructions for line 35 are also described later. IMPORTANT: Complete all required and applicable fields and lines even if the information did not change from your previously filed return. For example, if the amount on line 12, Federal standard or itemized deduction amount, was originally filed as $12,000, and the amended return does not affect this amount, also enter $12,000 in the AS AMENDED column, for line 12. TOP OF PAGE 1 Lines 1a, 1b, 2a, and 2b Make sure the name(s) and social security number(s) are correct and legible. If married filing jointly, match this PIT-X to your original return by listing first on the PIT-X the first person shown on your original return. The next items are for the taxpayer and, if applicable, spouse. IMPORTANT Complete all applicable fields in the AS AMENDED column, even if the information did not change. Attach all schedules necessary to support your AS AMENDED figures. PIT-X X-1 www.tax.newmexico.gov

Lines 1c and 2c Mark if blind for federal income tax purposes. Lines 1d and 2d Mark if 65 years of age or older on the last day of the ap­ plicable tax year. Lines 1e and 2e. Enter R, N, F, or P to show your residency status. R = Resident N = Non-Resident F = First-Year Resident P = Part-Year Resident Lines 1f and 2f Date of Birth In 1f, and if applicable in 2f, enter date(s) of birth in MM/DD/ CCYY format. For example, if your birthdate was on July 20, 1952, enter 07/20/1952.

Line 3a and 3b In 3b, enter your current mailing address. If you moved or changed your address since your last filing, mark checkbox 3a. If you have a foreign address, enter the street address, city name and postal code in the appropriate line. Also complete the spaces for the foreign province and/or state and country. Follow the country’s practice for entering the foreign postal code, the province or state, and country. Do not abbreviate the country name. Line 4c, 4d, 4a, and 4b If a taxpayer or spouse died before this return is filed, in section 4 complete line 4c or 4d to show the date of death. If a deceased taxpayer’s refund must be made payable to a person other than the taxpayer or spouse named on this return, complete lines 4a and 4b. Lines 5, 7, and 8 Unless the number of exemptions, dependents, other de­ pendents or filing status has changed, complete lines 5, 7, and 8 the same as on the original return. Line 6 If you received an approved extension of time to file for the original filing, complete line 6. In this case, enter the required extension information from your original return. For example, you are a calendar year filer who received a federal automatic extension to October. • You marked checkbox 6a on your original return and showed October 15, 2024 as the extended due date in 6b. • Before you file your amended return, mark checkbox 6a on the PIT-X and enter the extended due date of Octo­ ber 15, 2024 in 6b. NOTE: This is required on your PIT-X even if the extended due date does not affect your amended return. TOP OF PAGE 2 Social Security Number Enter your social security number in the box at the left. Reason for amending. Enter the reason you are amending your return. For ex­ ample, changes to my federal return or a specific reason like corrected 1098 received after filing. If you also need to amend your federal return, attach a copy of your federal amended Form 1040X. Important: If additional space is needed, please attach a separate statement and indicate that a separate statement is attached in the space provided on page 2 of the return. Final Determination Date If you are amending due to a federal adjustment or audit you must enter in the final determination date on this line. Format MM/DD/CCYY. Lines 12a, 16a, 18a, and 25a In these lines, show the correct (the amended) information. There are no corresponding indicator boxes or entries for information filed previously. Line 31 and Schedule Special instructions are needed to complete line 31, Form PIT-X. In column 1, enter the amount you reported on your previous return. Use the schedule at the bottom of PIT‑X, page 2 to find the amount to enter in column 2. The result shown in line S3 of the schedule is the number you enter in line 31, Other payments less any refunds, in the AS AMENDED column. Directions for completing the schedule follow next. BOTTOM OF PAGE 2 S1. 2023 Other payments List any 2023 payments you made before, or separate from, the submission of this amended return. Enter the date and amount of the payment. Do not include any estimated pay­ ments reported on line 30 of this form or payments carried forward from the prior year return reported on your 2023 PIT-X, line 30. S1a. Sum of payments On line S1a, enter the sum of 2023 Other Payments listed in Section S1. S2. 2023 Refunds received List any refunds you received from a previously filed 2023 New Mexico PIT-1 return. If the Department paid interest on your refund, do not include the interest paid. S2a. Sum of refunds On line S2a, enter the sum of 2023 refunds listed in Sec­ tion S2. PIT-X X-2 www.tax.newmexico.gov

S3. Subtract line S2a from line S1a Enter the subtraction result on line S3 of the schedule and on line 31, column 2 of the PIT-X return. If the result is a negative number, enter the minus sign immediately to the left of the number. If you need more space to complete the schedule, create another schedule formatted the same way and attach it to your PIT-X. Line 35 Show the correct (the amended) information. There is no corresponding indicator box for information previously filed. PAID PREPARER’S USE ONLY Anyone you pay to prepare your return must sign it and fill in the blanks in this section of the return. The preparer may sign it by hand or any other method of electronic signature acceptable to the Internal Revenue Service (IRS). IMPORTANT: Paid preparers must sign your return. Paid preparers are subject to certain requirements. For more information, see the PIT-1 instructions, Interest and Penalties on page 15. Sign and Date If you are married and filing a joint amended return, both spouses must sign. Below the signature, the taxpayer and, if married filing joint, the spouse, is required to enter their state issued driver’s license or state issued identification card number and a two digit state code identifying the state issuing the identification number. Also enter the expiration date of driver’s license or state issued identification number. These identification numbers will be used as an additional level of verification to help protect your personal information from identity theft and fraudulent returns. If you do not have this identity, write “NONE” in this field if the taxpayer and, if married filing joint, the spouse do not wish to provide a state issued driver’s license or state issued identification card, write “DECLINED” in the spaces provided.

CHECK THE CHECKLIST Before you submit your return, go through the Checklist for the 2023 PIT‑X Return on the last page of these instructions to make sure your return is complete. HOW TO FILE You can file your PIT-X online or mail your paper return and any attachments. Filing Online You can file amended returns through Taxpayer Access Point (TAP) at https://tap.state.nm.us. The site lets you file the four most recent tax year returns. Log in and choose the correct tax year to amend. TAP processes your new return as an amendment. Filing on Paper After completing a paper PIT-X form, mail it with any at­ tachments to the Department. For details, see Mailing Your Return later in these instructions. METHODS OF PAYMENT You can make an electronic payment online or mail your payment voucher with a check or money order to the De­ partment. PAYING ONLINE You can pay your tax liability by electronic check (E-Check) at no charge through the Department’s website. An E-Check authorizes the Department to debit your checking account in the amount and on the date you specify. Go to https://tap. state.nm.us to pay online. Under FOR INDIVIDUALS, click Make a Payment. Credit Cards and Fees You may also pay using a credit card for your online pay­ ment. A convenience fee is applied for using a credit card. The State of New Mexico uses this fee, calculated on the transaction amount, to pay charges from the credit card companies. PAYING BY MAIL You can pay your taxes by mail, but first you need a pay­ ment voucher. Where To Get a Payment Voucher You can get a PIT-PV, Personal Income Tax Payment Voucher, from your personal income tax packet, one of the Department’s district offices, or your tax return preparation software. You can also get payment vouchers from www.tax. newmexico.gov. At the top of the page, click Forms & Publications. When you see the list of folders, click Income Taxes, click Personal Income Tax (PIT) – Current Year, Personal Income Tax Return Forms, and PIT-PV Pay­ ment Voucher. Use Only Blue or Black Ink Type or print all entries on the payment voucher in blue or black ink. IMPORTANT: Do not use pencil to write on the payment voucher.

Do Not Copy the Payment Voucher Because the Department uses high-speed scanners when processing payment vouchers, a quality form helps ensure accuracy. Do not photocopy the payment voucher. Cut Only on the Dotted Line Because scanners can read only one page size to process vouchers, it is important to cut only on the dotted line. PIT-X X-3 www.tax.newmexico.gov

Avoid Size Changes When Printing When printing a voucher from the Internet or a software product, prevent resizing by setting the printer’s page scaling function to none. If your payment voucher has a scanline (a very long row of numbers) within the bottom 1 and 1/2 inch of the voucher, do not write in the area around the scanline. Preparing Your Voucher and Your Payment If you are mailing a payment with your return, follow the next steps: 1. Complete the PIT-PV, Personal Income Tax Payment Voucher. 2. On your check or money order, write: • Your social security number • 2023 PIT-X MAKE AND KEEP COPIES Before mailing your return, make copies of your return and attachments. Keep your copy in a special place you can remember. MAILING YOUR RETURN Mail refund returns and returns without a payment attached to: Taxation and Revenue Dept. P.O. Box 25122 Santa Fe, NM 87504-5122 Mail returns with a payment and your voucher attached to: Taxation and Revenue Dept. P.O. Box 8390 Santa Fe, NM 87504-8390

PIT-X X-4 www.tax.newmexico.gov

Checklist for the 2023 PIT-X Return The Department encourages all taxpayers to file online. Electronic filing is fast and secure. It provides the fastest turnaround for a refund and saves tax dollars, costing less to process than a paper return. c c c c c c c c c c c c

Enter name(s) and social security number(s) in the same order as filed on the original return.

If you are changing the amount of tax withholding, attach W-2(s) or other income and withholding information return(s).*

If the line 11 or line 15 AS AMENDED column has an entry, attach Schedule PIT-ADJ.

If PIT-B was used to calculate the amended tax amount on line 18, attach Schedule PIT-B.

If the line 21 AS AMENDED column has an entry, attach Schedule PIT-CR.

If the line 24 AS AMENDED column has an entry, attach Schedule PIT-RC.

If the line 40 AS AMENDED column has an entry, attach Schedule PIT-D. You may not decrease or eliminate

any amount of voluntary contribution made on the original or previously filed return.

Near the top of 2023 PIT-X, page 2, in Reason for amending, enter the reason. If the reason is changes to my federal return, attach a copy of your federal amended form.

Is the state issued driver’s license or state issued identification card number, expiration date, and two digit state

2 identifying the issuing state entered below the signature of the taxpayer and, if married filing joint, the spouse?

If you do not have a state issued driver’s license or state issued identification card number, write NONE in this field.

If you do not wish to provide a state issued driver’s license or state issued identification card, write DECLINED in this field.

If you are due a refund, did you complete the REFUND EXPRESS section on PIT-X, page 2 or verify that the

address on PIT-X, page 1 is where you want your refund mailed?

If you are mailing payment with the return, did you complete the PIT-PV, Personal Income Tax Payment Voucher,

and attach your check or money order? Is your check or money order payable to New Mexico Taxation

and Revenue Department? Did you write your social security number and 2023 PIT-X on your payment?

NOTE: TRD supports the fast and secure filing of electronic payments for PIT-PV. Please visit our website at https://tap.state.nm.us to learn more.

Did you make a copy of all documents for your records? * Examples of other income and withholding information returns are 1099-MISC and RPD-41359. PIT-X X-5 www.tax.newmexico.gov

www.tax.newmexico.gov Tax Rebates and Credits Available to Qualifying Low-Income Filers

▶ Taxpayers not required to file a federal tax return with the IRS also are not required to file a New Mexico Personal Income Tax return, BUT they may want to do so to claim certain rebates and credits for low-income filers. You may also want to review Schedule PIT-RC and instructions to determine whether you qualify for any of the low-income rebates and cred- its that may be claimed on that schedule. You may also refer to Quick Guide 2 – Tax Information for New Mexico Low Income Filers, on the Department web page. Visit www.tax.newmexico.gov, click on FORMS & PUBLICATIONS, then select Quick Guides (Formerly Brochures) from the Publications folder.

▶ Earned Income Tax Credit (EITC) - You may be eligible for an Earned Income Tax Credit (EITC) from the Internal Revenue Service (IRS) if you are a low-income working individual or family. The EITC is a refundable credit which may reduce your federal tax and may result in a refund from the IRS. To see if you may claim the credit, read the rules in the federal Form 1040 tax packages or see IRS Publication 596. You may also read about the EITC on the IRS website at www.irs.gov and download the publication there.

▶ Working Families Tax Credit - A resident who was a New Mexico resident during any part of 2023 and who files a New Mexico personal income tax return may claim a credit in an amount equal to twenty (20) percent of the Federal EITC for which that individual is eligible for the same tax year. An individual who qualifies for the working families tax credit may receive a refund if the credit exceeds the income tax liability for the tax year of the claim.

▶ Low-Income Comprehensive Tax Rebate - Residents of New Mexico who have been physically present in New Mex- ico for at least six months during the 2023 tax year and whose modified gross income is $36,000 or less may claim the low-income comprehensive tax rebate. NOTE: You cannot claim this rebate if you were eligible to be claimed as a de- pendent of another taxpayer for 2023, or you were an inmate of a public institution for more than six months during 2023.

▶ Low- and Middle-Income Tax Deduction - A personal income tax exemption is offered for low- and middle-income taxpayers. The maximum is $2,500 for each person claimed as an exemption. The amount varies according to filing status and federal adjusted gross income. Single persons qualify for the exemption when federal adjusted gross income is $36,667 or less; married persons filing joint returns, surviving spouses and head of household filers qualify when fed- eral adjusted gross income is $55,000 or less, and married persons filing separate qualify when federal adjusted gross income is $27,500 or less.

▶ Child Day Care Credit - New Mexico residents who have a modified gross income of $30,160 or less, may claim a credit (which may not exceed $1,200) for expenses for dependent child day care necessary to enable gainful employment. The claimant, and spouse if applicable, must be gainfully employed for that part of the tax year for which the credit is claimed, not be a recipient of public assistance under the Temporary Assistance for Needy Families program (TANF), the New Mexico Works Act or similar program for that part of the tax year for which the credit is claimed, and not have been reimbursed or compensated for the expenses in any way. Other restrictions apply to both the claimant and the caregiver. See the instructions.

▶ Property Tax Rebate - New Mexico residents age 65 and older, who have a modified gross income of $16,000 or less, may qualify for the property tax rebate. The property tax rebate helps with tax billed or rent paid on your principal place of residence. The property tax rebate may not exceed $250 ($125 for a married taxpayer filing a separate return). The taxpayer must be physically present in New Mexico for at least 6 months during 2023, and neither eligible to be claimed, nor actually claimed, as a dependent of another taxpayer for 2023, and was not an inmate for more than 6 months during 2023.

▶ Property Tax Rebate for Low-Income Residents of Los Alamos, Santa Fe, or Doña Ana Counties - A resident whose principal place of residence is in Los Alamos County,Santa Fe County, or Doña Ana County only; has a modified gross income of $24,000 or less; was a resident of New Mexico during 2023; was physically present in New Mexico for at least 6 months during 2023 is neither eligible to be claimed, nor actually claimed, as a dependent of another taxpayer for 2023; and was not an inmate of a public institution for more than 6 months during 2023, may qualify for this rebate. NOTE: The property tax rebate may not exceed $350 ($175 for a married taxpayer filing a separate return). Privacy Notification The New Mexico Taxation and Revenue Department requires taxpayers to furnish social security numbers as a means of taxpayer identification. All information supplied electronically by taxpayers is protected using encryption and fire walls. Taxpayer information on returns is protected in accordance with the confidentiality provisions of the Tax Administration Act (Section 7-1-8 NMSA 1978).

www.tax.newmexico.gov TAXATION AND REVENUE DEPARTMENT P.O. BOX 25122 Santa Fe, NM 87504-5122 PRSRT STD U.S. POSTAGE PAID State of New Mexico DISTRICT OFFICES: Local tax offices can provide full service and information about New Mexico's taxes, programs and forms and specific information about your filing situation. If you have questions or require addition- al information, you may contact your local Taxation and Revenue Department Office. ALBUQUERQUE: Taxation & Revenue Department Copper Pointe 10500 Copper Avenue NE P.O. Box 8485 Albuquerque, NM 87123-8485 (505) 841-6200 FARMINGTON: Taxation & Revenue Department 3501 E. Main Street, Suite N P.O. Box 479 Farmington, NM 87499-0479 (505) 325-5049 LAS CRUCES: Taxation & Revenue Department 2540 S. El Paseo, Building #2 P.O. Box 607 Las Cruces, NM 88004-0607 (575) 524-6225 ROSWELL: Taxation & Revenue Department 400 North Pennsylvania, Suite 200 P.O. Box 1557 Roswell, NM 88202-1557 (575) 624-6065 SANTA FE: Taxation & Revenue Department 1200 South St. Francis Drive P.O. Box 5374 Santa Fe, NM 87502-5374 (505) 827-0951 TAX CALL CENTER: 1-866-285-2996 DEPARTMENT WEBSITE: Our website provides a number of resources. Please visit our web- site: http://www.tax.newmexico.gov TAXPAYER ACCESS POINT: E-File, pay, and check your refund status with Taxpayer Access Point (TAP). It is fast, easy, and secure: https://tap.state.nm.us Contacting the New Mexico Taxation and Revenue Department: