SCH-CC: Schedule CC Alternative Tax Schedule (Revision 2020-07)
New Mexico · New Mexico TRD · Used for tax years 2024, 2025, 2026
New Mexico Schedule CC is an alternative tax schedule that calculates total tax due by multiplying gross sales in or into New Mexico by 0.0075. It must be attached to a CIT-1, PIT-1, or S-Corp return.
Who files this form
Schedule CC is for taxpayers who meet all three conditions:
- Have no business activities in New Mexico other than sales.
- Do not own or rent real estate in New Mexico.
- Have annual gross sales in or into New Mexico of $100,000 or less.
Taxpayers using Schedule CC must also complete the relevant portions of their CIT-1, PIT-1, or S-Corp return.
What you'll need
You will need your applicable New Mexico return: CIT-1, PIT-1, or S-Corp.
Have the following information ready:
- Your name, address, tax year, and applicable identification numbers. Schedule CC has fields for an SSN and FEIN.
- Your gross sales in or into New Mexico.
- For CIT-1: the corporation’s name and address, required FEIN, NMBTIN, reporting period, and answers to general information questions A through L.
- For PIT-1: the taxpayer’s name and address, filing status, and Social Security number(s).
- For S-Corp: the corporation’s name and address, required FEIN and NAICS code, NMBTIN, reporting period, and answers to general information questions A through F.
How to file
- Fill in the identifying information and tax year on Schedule CC.
- Enter gross sales in or into New Mexico on line 1.
- Multiply line 1 by the printed tax rate of .0075 on line 2. Enter the total tax due on line 3.
- Transfer line 3 to the New Mexico Income Tax line of CIT-1 or S-Corp, or the New Mexico Tax line of PIT-1.
- Complete the required portions of the accompanying return. Sign and date Schedule CC, and sign the return and complete its other signature requirements.
- Attach Schedule CC to your CIT-1, PIT-1, or S-Corp return.
The supplied text does not provide a mailing address or e-filing instructions.
Common mistakes
- Leaving Schedule CC unattached. The form specifically warns that it must be attached to your CIT-1, PIT-1, or S-Corp return.
- Omitting required identifiers. The instructions mark the FEIN as required for CIT-1 and S-Corp, and the NAICS code as required for S-Corp.
- Overlooking penalty and interest when filing late. The instructions say to calculate late filing penalty and interest if the return is filed after its due date. See the instructions for the applicable return.
Questions people ask
What tax rate does Schedule CC use?
The printed rate is .0075. Multiply gross sales on line 1 by this rate to calculate total tax due on line 3.
Can I use Schedule CC if I rent real estate in New Mexico?
No. One of the conditions is that you do not own or rent real estate in New Mexico.
Can I file Schedule CC by itself?
No. The form must be attached to your CIT-1, PIT-1, or S-Corp return, and you must complete the relevant portions of that return.
Where do I report the tax calculated on Schedule CC?
Enter the total tax due from line 3 on the New Mexico Income Tax line of CIT-1 or S-Corp, or the New Mexico Tax line of PIT-1.