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Form 1040-EZ online PA: What You Should Know
The self-employed are responsible for filing a Schedule C, Schedule C-EZ (Form 1099-MISC), with Form 1099, Self-Employment Tax or any applicable tax return. 2021 Form 1023/B These are the federal taxes that will apply to all sales. If you are a New Mexico resident, you must file this form with your federal tax return if it is due on or after July 1, 2010. Your state taxes vary and have more information on New Mexico sales tax. Form 2061-CC, Form 2061-CS-S (Scheduling Instructions) — New Mexico Go to for more information. ▷ Schedule C (Form 1040) for New Mexico Residents If you were a New Mexico resident on or after July 1, 2010, you must use Schedule C (Form 1040) to report your gross income and report expenses. If you have New Mexico income, we use the net of the following: Gross income (see the definition on line 10) Deductible expenses (see the definition on line 11) Net income (see the definition on line 11) The tax you owe is the excess of your net income over your deductions. You must make adjustments or deductions within the next six months if the amount you had to pay or pay over the previous year increases. If you itemize your deductions you may want to use Schedule C-EZ when reporting your income to the IRS. Use Schedule C — (Form 1040), Schedule C/EZ (Form 1040-MISC) to report your federal personal income tax withholding. Form 1040 (Individual Income Tax Return) — New Mexico Residents The state income tax for New Mexico resident returns is equal to 6.25% of your gross receipts or 4% less if you qualify to claim personal exemptions and have no self-employment tax liability. A New Mexico resident using the federal tax code to calculate taxes also must calculate taxes using Schedule C (Form 1040) for New Mexico. If you receive social security benefits, you must calculate your social security taxes using Schedule C. If your taxable income is more than 150,000 you must calculate your New Mexico taxable income using Schedule C (Form 1040). You may need to use Schedule C-EZ (Form 1040-MISC).
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