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How do I get a New Mexico CRS number?

If you are a new business, register online with the New Mexico Taxation and Revenue Department to retrieve your CRS Identification Number and filing frequency. Your filing frequency refers to the frequency at which you need to make withholding tax payments to the agency.

How do I get a NM tax ID number?

You can apply for a Business Tax Identification Number Online at our website tap.state.nm.us. You will click Apply for a New Mexico Business Tax ID and follow the prompts. Upon completion and approval of the online application you may log in with the credentials set up during the application.

Who needs a CRS number in New Mexico?

New Mexico requires anyone engaged in business in New Mexico to register with the Taxation and Revenue Department. During registration, each business will be provided with a State Tax ID number, also known as a Combined Reporting System (CRS) ID Number.

How much does it cost to start an S-Corp?

The cost to start an S corp varies by state, based on filing fees and state taxes, but you can expect to pay between $800 to $3,000, excluding any lawyers fees, should you choose to hire one.

Does New Mexico have a composite tax return?

Alternatively, effective on January 1, 2022, pass-through entities may file a composite tax return for electing non-resident owners. See NMSA 1978 7-3-14.

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