Does New Mexico Accept a Federal Tax Extension?

When circumstances prevent filing on time, understanding the rules for an extension is necessary. This article clarifies the policies for extending a New Mexico state income tax return, detailing how the state coordinates with federal extensions and what steps are required to remain in good standing with the New Mexico Taxation and Revenue Department.

New Mexico’s Automatic Extension Policy

New Mexico simplifies the process for taxpayers who have already secured a federal extension. If you have filed for an automatic six-month extension with the IRS using Form 4868 for personal income tax, or Form 7004 for business returns, New Mexico automatically grants a corresponding extension to file your state return. No separate state-specific extension form is required to receive this additional time to file. This policy aligns your state filing deadline with your federal one, typically moving it to October 15.

This automatic acceptance means you do not need to send a copy of your federal extension to the state. The state’s system is designed to recognize the federal extension, providing a seamless process for those who need more time to prepare their tax documents.

Understanding the Extension to Pay Rule

An extension to file your tax return is not an extension of the deadline to pay any taxes you may owe. The original due date for tax payments remains the same, which for most calendar-year filers is April 15. Failing to pay the tax owed by this original deadline will result in the assessment of interest and potentially penalties.

Interest accrues on any unpaid tax balance from the original due date until the date the tax is paid in full. Penalties may also be applied if at least 90% of your total tax liability is not paid by the original deadline. Therefore, even if you have successfully obtained an extension to file your return, it is important to estimate your tax liability and pay as much as possible by the initial deadline to minimize these additional charges.

How to Submit a New Mexico Extension Payment

If you have an extension to file but anticipate owing state taxes, you must submit a payment by the original filing deadline. To do this, you will use New Mexico Form PIT-EXT, the Personal Income Tax Extension Payment Voucher. This form is not an application for an extension but is a voucher used to accompany your payment.

The Form PIT-EXT requires you to provide your name, Social Security number, and the amount of your estimated tax payment. You can find this form on the New Mexico Taxation and Revenue Department’s website. Once completed, you should mail the voucher along with a check or money order for the amount of tax you estimate you owe.

As an alternative to mailing a paper check, taxpayers can make extension payments electronically. The state’s Taxation and Revenue Department offers an online services portal where payments can be submitted directly.