Rpd 41320 form 2025

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New Mexico Taxation and Revenue Department Annual Summary of Withholding Tax. Form RPD-41072 is an Annual Summary of Withholding Tax used to report the total income taxes withheld from employees and taxes remitted to the state. Its also used to claim an overpayment refund or pay if the taxes are underpaid.
In summary, the three triggers of recapture are disposition, noncompliance and casualty loss. Trigger: The sale of an LIHTC property to a new owner can trigger recapture of the credits previously claimed by the original owner.
Typically, youre off the hook to pay back the credit if your business has used the asset for at least five years. However, if youre still within the five-year window, youll have to file Form 4255 to determine how much of the credit must be recaptured.
Form RPD-41083 is to be used to claim a refund of New Mexico tax on behalf of a deceased taxpayer. Who Must File. If you are a court-appointed or certified personal representative, you must include Form RPD-41083 with the taxpayers refund claim (New Mexico income tax return).
You might need to do this if: You sold or got rid of the property within 5 years of placing it in service. You changed how you use the property so it no longer qualifies for the credit. The propertys business use decreased, making it no longer eligible for the credit.

People also ask

In general, the investment credit is available to property owners who engage in specific types of projects on their property. Taxpayers can claim the following investment tax credits using Form 3468: qualifying advanced coal project credit. qualifying gasification project credit.
The rehabilitation credit under Internal Revenue Code 47 is subject to recapture if the building on which it was claimed is sold or ceases to be business use property within five years from the date it was first placed in service. The recapture provisions are found under Internal Revenue Code 50(a).
The agreement may be made by completing Form RPD-41353, Owners or Remittees Agreement to Pay Withholding On Behalf of a Pass-Through Entity or Remitter. Form RPD-41353 must be completed and on file with the PTE at the time it files its annual reports for the tax year to which the agreement pertains.

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