A. Every resident of this state and every individual deriving income from any business transaction, property or employment within this state and not exempt from tax under the Income Tax Act who is required by the laws of the United States to file a federal income tax return shall file a complete tax return with the department in form and content as prescribed by the secretary. Except as provided in Subsection B of this section, a resident or any individual who is required by the provisions of the Income Tax Act to file a return or pay a tax shall, on or before the due date of the resident's or individual's federal income tax return for the taxable year, file the return and pay the tax imposed for that year.

B. When the department approves electronic media for use by a taxpayer whose taxable year is a calendar year, the taxpayer who uses electronic media for both filing and payment must submit the required return and the tax imposed on residents and individuals under the Income Tax Act on or before the last day of the month in which the resident's or individual's federal income tax return is originally due for the taxable year. The due date provided in this subsection does not apply to residents or individuals who have received a filing extension from New Mexico or an automatic extension from the federal internal revenue service for the same taxable year.

History: 1953 Comp., § 72-15A-10, enacted by Laws 1965, ch. 202, § 10; 1971, ch. 20, § 3; 1981, ch. 37, § 22; 1990, ch. 49, § 6; 2003, ch. 275, § 2; 2016, ch. 15, § 1.

Cross references. — See case notes to 7-2-2 and 7-2-3 NMSA 1978.

For reporting on fiscal year basis, see 7-2-20 NMSA 1978.

For income tax withholding, see 7-3-1 to 7-3-10 NMSA 1978.

The 2016 amendment, effective May 18, 2016, changed the due dates of income taxes to conform with due dates pursuant to federal law, and provided certain exceptions; in Subsection A, after "Except as provided in Subsection B of this section", deleted "the return required and the tax imposed on individuals under the Income Tax Act are due and payment is required on or before the fifteenth day of the fourth month following the end of the taxable year" and added the remainder of the subsection; in Subsection B, after "tax imposed on", added "residents and", after "Income Tax Act on or before the", deleted "thirtieth" and added "last", after "day of", deleted "fourth", and after "month", deleted "following the end of the taxable year" and added the remainder of the subsection.

Applicability. — Laws 2016, ch. 15, § 3 provided that the provisions of Laws 2016, ch. 15, §§ 1 and 2 apply to taxable years beginning on or after January 1, 2016.

The 2003 amendment, effective June 20, 2003, added the Subsection A designation; inserted "Except as provided in Subsection B of this section" preceding "the return required" in Subsection A; and added Subsection B.

The 1990 amendment, effective May 16, 1990, substituted "shall file" for "must file," "department" for "division" and "secretary" for "director" in the first sentence.

State returns used for audit although federal taxes filed on different basis. — When a taxpayer filed consolidated federal income tax returns for a three-year period but, for the same period, elected to file its state income tax returns as a separate corporate entity, excluding its subsidiaries, and since it was not obligated to file its state returns on the same basis as its federal returns, the revenue department was not required to audit and assess the taxpayer's income taxes on the basis of consolidated income reported by the taxpayer in its federal returns rather than on the basis of its state returns which it had filed. Getty Oil Co. v. Taxation & Revenue Dep't, 1979-NMCA-131, 93 N.M. 589, 603 P.2d 328 (decided prior to 1981 amendment).

New Mexico may not tax income and gross receipts of Indians residing on reservation when the income and gross receipts involved are derived solely from activities within the reservation. Hunt v. O'Cheskey, 1973-NMCA-026, 85 N.M. 381, 512 P.2d 954, cert. quashed, 85 N.M. 388, 512 P.2d 961.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation §§ 450, 481.

Duress in obtaining waiver from taxpayer extending time for assessment of income tax, 78 A.L.R. 631.

Liability on bond given as condition of extension of time for payment of income tax, 117 A.L.R. 452.

What constitutes "reasonable cause" under state statutes imposing penalty on taxpayer for failure to file timely tax return unless such failure was due to "reasonable cause," 29 A.L.R.4th 413.

85 C.J.S. Taxation §§ 1701 et seq.