Which New Mexico form do Limited Liability Corporations (LLCs) use to report their income tax liability?
It depends on the federal tax treatment. If the LLC is taxed as:- either an S corporation or as a partnership, the LLC must submitForm PTE, Income and Information Return for Pass-Through Entities ; – a C corporation, it must submit a form CIT-1, Corporate Income and Franchise Tax Return, or – a Sole Proprietor, it must submit a Form PIT-1, New Mexico Personal Income Tax Return . Other schedules may also be required.
