Do I need to report my out-of-state income?
Asked a year ago
Yes, you are required to report your out-of-state income to the New Mexico Taxation and Revenue Department. New Mexico follows the principle of "global income," meaning that residents must report all income earned from both in-state and out-of-state sources. This includes wages, self-employment earnings, rental income, business profits, and any other type of income earned outside of New Mexico. Failure to report out-of-state income can lead to penalties and potential audits. To accurately report your out-of-state income, you should keep detailed records, including pay stubs, 1099 forms, and any relevant financial statements. It is recommended to consult a tax professional or refer to the New Mexico Taxation and Revenue Department's guidelines for more specific information regarding reporting requirements for out-of-state income.
Need further help?
Type out your followup or related question and we will get you an answer right away.
Similar Questions
Need to contact New Mexico Taxation and Revenue Department?
If you need to talk to New Mexico Taxation and Revenue Department customer service, now that you have the answers
that you needed, click the button below.
Contact New Mexico Taxation and Revenue DepartmentNew Mexico Taxation and Revenue Department
Find a list of many popular New Mexico Taxation and Revenue Department questions with answers or step by step guides on our FAQ page below. Or ask a whole new question and get an answer right away.
New Mexico Taxation and Revenue Department Customer Service FAQAsk a QuestionWas this page helpful?YesNeeds work
Sharing is what powers GetHuman's free customer service contact information and tools. You can help!