Entity Level Tax checkbox on PTW-D, box D

1. Go to New Mexico > General worksheet.
2. Expand Section 1 - General.
3. In Line 20 (Interview Form NM1 box 54) - Entity Level Tax election, select the checkbox.
4. Calculate the return.

Include / Exclude partners with RPD-41367, page 2, Schedule A calculation

• To only include certain partners, or to override amounts, use:

1. Go to Common State > Generic State Schedule K-1 Information worksheet.
2. Expand section State/City Information > State code must be either NM or blank.
3. Expand section Generic Partner Input.
4. In column Partner number, input applicable Partner(s) desired.
5. and in column State Use > Checkbox 1, select the checkbox.
6. Calculate the return.
   • Interview Form ST-1, box 30, 55-71, and 165-197. 

• To activate for all partners, or for nonresidents only, use:

1. Go to New Mexico > General worksheet.
2. Expand section Basic Data.
3. In line Form RPD-41367 and RPD-41359 options, select an applicable option.
4. Calculate the return.
   • Interview Form NM1, box 45.

• To exclude certain partners use:
  1. Go to Common State > Generic State Schedule K-1 Information worksheet.
  2. Expand section State/City Information > State code must be either NM or blank.
  3. Expand section Generic Partner Input.
  4. In column Partner number, input applicable Partner(s) excluded from Entity Level Tax PTW-D, Schedule A calculation.
  5. and in column State Use > Checkbox 2, select the checkbox.
  6. Calculate the return.
     • Interview Form ST-1, box 30, 55-71, and 166-198.

Electronic Filing

PTW-D (RPD-41367) is available for electronic filing and exports separately from the New Mexico PTE return.

• Worksheet View General > Electronic Filing worksheet > Section 5 - State, line 69 - File New Mexico PTW-D (RPD-41367) Return.
• Interview Form New Mexico NM1, box 49.

Direct Debit / Automatic Withdrawal is available when electronic filing the PTW-D (RPD-41367).

• Bank information is not currently required to efile the PTW-D. If no bank information made available to the PTW-D, then form PTW-PV will prepare along with letters and filing instructions which will direct the client:
  • Mail the payment along with PTW-PV as soon as possible to:
    
                      New Mexico Taxation & Revenue Dept.
                      P.O. Box 25127
                      Santa Fe, NM  87504-5127

Letters and Filing Instructions

• Standard / custom, Filing Instructions, and combined and separate Transmittal Letters are available for RPD-41367.