New Mexico Form Instructions 944 2024-2025

New Mexico Form Instructions 944: What You Should Know

I-944 is also used to report your charitable donations, unemployment benefits, and government retirement benefits you receive. Sep 13, 2025 — There are two I-944 forms you'll need to file to report government pension income, unemployment benefits, and Social Security and Medicare tax. Sep 11, 2025 — The I-944 is part of the Federal Tax Return (Form 941).  The main I-944 form is for businesses, including for a sole proprietor, a partner, and a corporation. The supplemental I-944 is filed by an employer, an employee, or a  professional. The I-944 must be filled out completely. Form 944A (for the Form 941 form) is used to report unemployment compensation if you do not have a separate federal tax return to file for income. The I-944 form can also be accessed online. Who is an employer? — PeopleKeep Sep 14, 2025 — A “business” is any person or entity that is: • The owner of the business property and who has control over and direction of the business • Employees of the business (for example: employees, management, etc.) • Contractors; and • In the employ of the business who receives more than a specified sum of money from one (1) tax year. This also applies to a corporation or a joint stock company that conducts business in this state. What is the “specified sum” in the state of New Mexico? — PeopleKeep Jul 27, 2025 — For a corporation, this is an amount equal to at least 10 percent of the company's profits, for example, 1,000,000 in 2018. This does not include a foreign company's profits, but does include the state government's profits, if the state has not paid tax at that rate. For an individual, this is the individual's gross income, including employee and business income, for the tax year. Your tax year ends on the 12th day of the calendar year. For example, if you file 2025 tax return, your tax return is due on January 31, 2018. What is a “specified share of profits” in the state of New Mexico? — PeopleKeep Jul 27, 2025 — A “specified share of profits” in New Mexico is based on the profit shared between the company and the business entity.

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