Form Crs-1 - Reporting Gross Receipts, Withholding And Compensating Taxes

Amended Report: Check if amending a previously filed return. If you are filing an

LINE 6: INTEREST. Interest is calculated daily but the rate will be set at the rate

Applica-

amended return that will result in an overpayment of tax, please complete an

established for individual income tax purposes by the U.S. Internal Revenue Code (IRC).

tion for Tax Refund

(RPD-41041) and submit it with your CRS-1 Form along with any

the interest rate changes on a quarterly basis. Please visit the Department's web site at

supporting documentation.

for the current quarterly and daily rate.

Example: Taxpayer's tax due on Line 4 is $1,000. The payment is five days late. To

Payment via Automated Clearinghouse Deposit or Federal Wire

Transfer: Check appropriate box and enter date of transfer.

calculate interest, multiply $1,000 by the daily rate of 0.008196721% or .00008196721

(the daily rate for the 2nd quarter of 2012). The result is $0.081967, which is the interest

TAX PERIOD: Enter the dates for which the tax is reported, not the month the pay-

due for one day. Multiply $0.081967 by five (the number of days the payment is late).

ment is made. The tax period should be monthly, quarterly or semiannually, according

The interest is $.409836 or $.41. Enter this amount on Line 6.

to the filing frequency listed on your Registration Certificate.

$1,000 x .00008196721 x 5 = $.409836 (rounded up to $.41)

Provide your CRS ID number and telephone number.

NOTE: You are not liable for interest if the total interest is less than $1.00.

NOTE: When you provide a check as payment, you authorize TRD either to use infor-

mation from your check to make a one-time electronic fund transfer from your account,

LINE 7: TOTAL AMOUNT DUE. Add Lines 4, 5 and 6. Pay this amount. A CRS

or to process the payment as a check transaction. In the memo section of your check,

payment should not be combined on the same check or money order with any other tax

enter the letters "CRS" to identify the tax program, and the end period that you are filing

or fee paid to the Department. Please send your completed return with payment to: NM

for; this information will insure that your payment is applied correctly should the CRS-1

Taxation and Revenue Department, PO. Box 25128, Santa Fe, NM 87504-5128.

Form become separated from your check.

Even is you are not required to file and pay your CRS taxes online you may use the online

filing option by going to our web site at https://efile.state.nm.us.

CRS-1 INSTRUCTIONS FOR LINES 1 - 7

LINE 1: GROSS RECEIPTS TAX. Complete Columns A through H and enter

NOTE: The following tax credits and deductions may be taken against tax programs that

the Column H total on Line 1 (includes amounts of governmental gross receipts tax,

are reported on the CRS-1 or CRS-1 Long Forms. Please note there are additional forms

interstate telecommunications gross receipts tax, leased vehicle gross receipts tax and

that must be completed to apply for and claim these credits and deductions. You may

leased vehicle surcharge). Be sure to include the total from Column H from the CRS-1

request these forms from your local district tax office or online at .

Long Form and any supplemental pages you may be required to file.

Tax Credit/

Claimed Against

Form Requirements

Deduction

LINE 2: COMPENSATING TAX.

Gross Receipts, Compen-

1) Take 5.125% of the value of:

Advanced Energy Tax

sating and Withholding

RPD-41333; RPD-41334

property that was manufactured by the person using the property in New Mexico;

•

Credit

Taxes

property acquired inside or outside of this state from a person located outside

•

New Mexico that would have been subject to gross receipts tax had the property

Advanced Energy Gross

Gross Receipts Tax; Com-

RPD-41349

been acquired from a person with nexus with New Mexico; or

pensating Tax

Receipts Tax Deduction

property acquired or purchased for nontaxable use and then used by the buyer.

•

Gross Receipts, Compen-

(Example: A retailer delivers a nontaxable transaction certificate to purchase

Affordable Housing Tax

sating and Withholding

RPD-41301

items for resale. The retailer removes items from inventory for personal use.

Credit

Taxes

Compensating tax is due on the value of these items.)

Alternative Energy

Gross Receipts, Compen-

2) Take 5.00% of the value of services acquired or purchased for nontaxable use and then

Product Manufacturer’s

sating and Withholding

RPD-41330; RPD-41331

converted to use by the buyer. (Example: A construction contractor delivers a nontaxable

Taxes

Tax Credit

transaction certificate to purchase construction services for a construction project. The

construction contractor does not sell the construction project in the ordinary course of

Biodiesel Blending Facil-

Gross Receipts and Com-

RPD-41339; RPD-41321

ity Tax Credit

pensating Taxes

business and does not pay gross receipts tax but instead converts the finished construc-

tion project to personal use. Compensating tax is due on the value of the construction

Gross Receipts Tax

RPD-41299

service purchased by the construction contractor.

Holiday Deduction

Gross Receipts, Compen-

(LINE 3: WITHHOLDING TAX. Every employer doing business in New Mexico or

High-Wage Jobs Tax

sating and Withholding

RPD-41288; RPD-

deriving income from within New Mexico who pays wages or other remuneration to an

Taxes and Interstate Tele-

Credit

41290; RPD-41289

employee and who is required to withhold federal income tax must withhold New Mexico

communications GRT

income tax. In addition, operators of gambling establishments must, on behalf of the state,

Hospital Credit

Gross Receipts Tax

RPD-41324

withhold 6% from winnings if required to withhold for federal purposes. Gaming operators

must include copies of IRS Forms 1099, W2-G or 1042S. Withholding tax tables can be

Gross Receipts, Compen-

RPD-41167; RPD-41168;

found in publication FYI-104, New Mexico Withholding Tax available online at

Investment Credit

sating and Withholding

RPD-41212

Taxes

/ under "Forms and Publications or at your local district office.

Use Line 3 only to report tax withheld from wages and gambling winnings.

Laboratory Partnership

with Small Business Tax

Gross Receipts Tax

RPD-41325

LINE 4: TOTAL TAX DUE. Add Lines 1, 2 and 3.

Credit

Research & Develop-

Gross Receipts, Compen-

LINE 5: PENALTY. Penalty is applied for failure to pay or file on time. Prior to Janu-

ment Small Business Tax

sating and Withholding

RPD-41297; RPD-41298

ary 1, 2008, penalty is calculated at a rate of 2% of Line 4 per month or partial month

Taxes

Credit

(any fraction of a month is a full month) the payment is late, up to 10% of the tax due or

Gross Receipts, Compen-

a minimum of $5.00, whichever is greater.

RPD-41238; RPD-

Rural Job Tax Credit

sating and Withholding

41243; RPD-41247

Taxes

After January 1, 2008, penalty is calculated at the same monthly rate and in the same

manner but the maximum amount of penalty that can be imposed increases to 20% of

Service for Resale Tax

Gross Receipts Tax

RPD-41300; RPD-41305

the tax due or a minimum of $5.00, whichever is greater.

Credit

Solar Energy Deduction

Gross Receipts Tax

RPD-41341

THE MINIMUM $5.00 PENALTY ALSO IS IMPOSED FOR FAILURE TO FILE THIS

REPORT EVEN IF NO TAX IS DUE. See FYI-401 for special payment methods for

Gross Receipts, Compen-

Automated Clearinghouse (ACH) taxpayers.

Technology Jobs Tax

sating and Withholding

RPD-41239; RPD-41244

Credit

Taxes

NOTE: Penalty is calculated on the outstanding tax due balance. Any outstanding tax

Gross Receipts, Compen-

that originated prior to January 1, 2008, may still be subject to the 20% penalty threshold

Unpaid Doctor Services

sating and Withholding

RPD-41323

effective January 1, 2008.

Credit

Taxes

Form Crs-1 - Reporting Gross Receipts, Withholding And Compensating Taxes - 2013 Page 6

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