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Get your taxes done using TurboTax
If you look at page 4 of the FYI it says the NM Corporate Income Tax is based on net income, so if you lost money you wouldn't pay that tax.
There is a $50 Franchise Tax each year that must be paid regardless of profit.
The franchise tax is separate from the personal income tax. Here is a link to create a NM login and where you will be able to submit a payment.
March 8, 2022
6:57 PM