14 March 2018 New Mexico employers must all file Forms W-2 with tax department by January 31 starting for CY 2019, due in 2020 Recently enacted New Mexico legislation will require all employers to file Forms W-2 with the New Mexico Department of Taxation & Revenue Department by the accelerated deadline of January 31. Employers filing 25 or more Forms W-2 will be required to file electronically. The bill is effective for taxable years on or after January 1, 2019. (HB 276, Chapter 59, signed by the governor on March 2, 2018.) Per a Department representative in the Tax Information and Policy Office, the legislation will take effect for calendar year 2019 Forms W-2, required to be filed by January 31, 2020. (Email response to inquiry, March 7, 2018.) Current law requires employers to file Forms W-2 with the Department by February 28 only if quarterly withholding or unemployment tax returns are not filed by the employer. Applicable employers which file 50 or more Forms W-2 are required to file electronically. As with other states that have accelerated the Forms W-2 filing due date, fighting income tax and identity fraud is the main purpose of the legislation. The new requirement also applies to payers of pensions and annuities that withhold New Mexico state income tax from such payments. For more information on state withholding tax and the current requirements for filing Forms W-2 with the Department, go here.
Document ID: 2018-0553 | ||||||||||||||
