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RPD-41367 11

New Mexico Taxation and Revenue Department

Rev. 8/9/2012

2011 Annual Withholding of Net Income

From a Pass-Through Entity Detail Report

Instructions - Page 2 of 3

enter the first day and the last day of the tax year. The tax

PTE is required to pass tax credits that they have been ap-

year for the New Mexico return must be the same as the tax

proved for to the owners. Each owner must apply the credit

year for the federal return. Enter the due date of the PTE’s

against its income tax liability. A PTE that passes tax credit

federal income tax return. If an extension was granted for the

to its owners, must refer the forms applicable to the specific

federal form, enter also the extension due date.

tax credit to determine how the tax credit is passed from the

PTE to its owners.

Column 1. Enter the name and address of each owner of the

PTE. If an individual, enter the first, middle initial and last name

IMPORTANT DEFINITIONS

of the owner. If the owner is an individual who is a resident of

“Net Income” means, for any pass-through entity (PTE), the

New Mexico, or a corporation whose principal place of busi-

income reported to an owner, by the PTE for federal income

ness is in New Mexico, enter the New Mexico address where

tax purposes, including ordinary business income or loss, net

the owner resides or conducts business. Mark the box if the

rental income or loss, guaranteed payments to a partner of

address of an owner is outside the U.S..

a partnership, dividends, royalties and capital gain or loss,

less associated deductions, plus interest earned on a state

Column 2. Enter the owner’s federal identification number

or local bond, less interest earned on a bond issued by the

and mark the box indicating whether the number is a federal

State of New Mexico or its political subdivisions, less income

employer identification number (FEIN) or a social security

from obligations of the United States less expenses incurred to

number (SSN).

earn that income. In the case of a subchapter S corporation,

“net income” also includes income taxable to the corporation

Column 3. Enter the owner’s share of the net income of the

for federal income tax purposes. Net income also includes

PTE for the calendar year. The total of column 3 for all pages

appropriate allocation and apportionment of that income to

must equal Line 1, Total New Mexico net income. If you file

New Mexico in accordance with the Uniform Division of Income

on a fiscal year basis, see “Fiscal Year Filers” on the previ-

for Tax Purposes Act.

ous page.

“Pass-through entity” means a personal services business or

any other business association other than:

Column 4. Enter the owner’s share of the required withholding

• a sole proprietorship;

tax paid by the PTE for the calendar year. The total of column

• an estate or trust that does not distribute income to ben-

4 on all pages must be equal to the amount paid for the four

eficiaries;

calendar quarters for the tax year on Form RPD-41355, Quar-

• a corporation, limited liability company, partnership or other

terly Pass-Through Entity Withholding Tax Return.

entity not a sole proprietorship taxed as a corporation for

federal income tax purposes for the tax year;

If the total of column 4 for all pages does not equal the amount

• a partnership that is organized as an investment partner-

of withholding tax reported on Forms RPD-41355, Quarterly

ship in which the partner’s income is derived solely from

Pass-Through Entity Withholding Tax Return, filed for the

interest, dividends and sales of securities;

calendar year, determine the quarter in which the withholding

• a single member limited liability company that is treated

tax was incorrectly reported and amend that return. You must

as a disregarded entity for federal income tax purposes;

amend each return affected. If a refund is due, also attach

Form RPD-41071, Application for Tax Refund, to the amended

• a publicly traded partnership as defined in Subsection (b)

Form(s) RPD-41355.

of Section 7704 of the Internal Revenue Code.

“Personal Services Business” means a business organization

Complete line 2 for each page, entering the sum of column 4

that receives payments for the services of a performing artist

for the page. Also complete line 3 on the first page showing

for purposes of the film production tax credit.

the total tax withheld and paid by the PTE, reported in column

4, from all pages.

“Owner” means a partner in a partnership not taxed as a

corporation for federal income tax purposes for the tax year,

Amending: Check the amended indicator box if you are

a shareholder of an S corporation or of a corporation other

amending a previously filed RPD-41367, Annual Withholding

than an S corporation that is not taxed as a corporation for

of Net Income From a Pass-Through Entity Detail Report. If

federal income tax purposes for the tax year, a member of

requesting a refund due to an overpayment of tax withheld,

a limited liability company or any similar person holding an

see the instructions for column 4 above.

ownership interest in any pass-through entity. Owner also

means a performing artist to whom payments are due from a

About Tax Credits: A PTE may not report tax credits on Form

personal services business.

PTE or on this Form RPD-41367, 2011 Annual Withholding of

“Partnership” means a combination of persons, including a

Net Income From a Pass-Through Entity Detail Report. The

Form Rpd-41367 11 - Annual Withholding Of Net Income From A Pass-Through Entity Detail Report - 2011 Page 4

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