RPD-41373: RPD-41373 Application for Refund of Tax Withheld from Pass-through Entities (2024)
New Mexico · New Mexico TRD · Used for tax years 2024
New Mexico Form RPD-41373 lets a pass-through entity request a refund of overpaid pass-through entity withholding tax, entity-level tax, or composite income tax, or apply the overpayment to the next tax year. It reports the overpayment amount, tax year, reason for the request, an
Who files this form
A pass-through entity uses RPD-41373 to request a refund of New Mexico pass-through entity withholding tax, entity-level tax, or composite income tax overpaid on its PTE return. The form also covers overpayments resulting from an amended return.
Use this form if the entity wants an overpayment applied to the next tax year instead of refunded.
If the entity received net income from another pass-through entity or oil and gas proceeds, it may report New Mexico tax withheld from those distributions on its PTE return and claim the overpayment on RPD-41373. It may instead choose to pass the withholding to its owners on the return.
What you'll need
Have the following information and documents ready:
- The entity’s name, Federal Employer Identification Number (FEIN), mailing address, and contact information.
- The type of tax, overpayment amount, and beginning and ending dates of each tax year covered by the claim.
- A brief statement of the facts and law supporting the refund, plus documentation that supports that explanation.
- If applicable, a copy of an amended return for each tax period for which a refund is claimed.
- For direct deposit, the bank routing number, account number, account type, and whether the refund will go to or through an account outside U.S. territorial jurisdiction.
Attach another sheet if you need more room to explain the basis for the refund.
How to file
File online
Use Taxpayer Access Point (TAP). Select “Request a Refund” and provide the required overpayment information. If you want the overpayment applied to the next tax year, clearly state that under “Basis of Refund.”
File by mail
Complete Sections I and II. Choose whether to apply the overpayment to the next tax year, receive a direct deposit, or receive a mailed check. Complete Section III if requesting direct deposit. Sign and date the form and provide the requested signer information.
Mail the completed form and supporting documents to:
New Mexico Taxation and Revenue Department
P.O. Box 25127
Santa Fe, NM 87504-5127
Common mistakes
- Using the wrong routing number. The routing number must have nine digits. If the first two digits are not 01 through 12 or 21 through 32, direct deposit will be rejected and a check issued. If your check says it is payable through a different bank, ask your financial institution for the correct routing number.
- Including the check number with the account number. Do not include the check number. Include account-number hyphens, but leave out spaces and special symbols. Leave unused boxes blank.
- Skipping or incorrectly answering the foreign-account question. If you do not answer, the Department sends a paper check. An incorrect answer may cause the refund to be delayed, rejected, or frozen.
- Requesting direct deposit through an ineligible account. If the refund will go to or through an account outside U.S. territorial jurisdiction, you cannot use that account for direct deposit. Use a different eligible account or leave the direct-deposit section blank to receive a paper check.
- Not providing requested supporting documents. If the Department requests additional relevant documentation, the refund claim remains incomplete until that documentation is provided.
Questions people ask
Can I apply part of the overpayment to next year and receive the rest as a refund?
Yes. Enter the amount to apply to the next tax year, then indicate whether the remaining amount should be refunded by direct deposit or check.
Can one application cover more than one tax year?
Yes. Enter the tax year’s beginning and ending dates in Section II and list any additional tax years on the line provided.
Can the Department use my refund to pay a tax liability?
Yes. The Department may offset all or part of an allowed refund against a tax liability.
What can I do if my refund claim is denied?
You may file a protest with the Department within 90 days of the mailing or delivery of the denial, or file a lawsuit in Santa Fe District Court. If the Department takes no action within 180 days of receiving a completed claim, you may treat it as denied and pursue those remedies. If additional relevant documentation is requested and you submit it within the required time, the 180 days starts when the Department receives the complete documentation.
Where can I ask which documents to include?
Call the Revenue Processing Division at (866) 809-2335 for questions about documents to file with a refund application or amended return.