The state of New Mexico is offering refunds to its residents who pay taxes and stimulus payments to those who don’t pay taxes. This was confirmed by the state’s governor, Michelle Luján Grisham, after $15 million was made available.
In this sense, the refund is reserved for couples filing joint tax returns, heads of household and surviving spouses; and can be up to $1000.00.
Meanwhile, an amount of $500.00 is available to single taxpayers and married individuals filing separately.
What’s important to note here is that the refunds will be sent to New Mexico residents who completed a 2021 Personal Tax Return (PIT). In addition, they may not be declared as dependent on another taxpayer’s declaration.
So how can you make a claim?
If they have not already done so, eligible residents have until May 31, 2024 to submit their 2021 PIT return forms. For those who have already submitted forms, all that remains is to wait and see.
Therefore, refund checks will be printed and sent to those eligible by the end of June 2024. Therefore, those receiving direct deposits will do so on a date before June 19th.
In addition, relief payments of $500.00 or $1000.00 have been made available to New Mexicans who are not eligible for the above refunds.
Those interested also know that they are eligible even if they owe state taxes. This is despite the fact that refunds can only be used to offset obligations for the 2021 financial year.
There are also cases where people have changed their bank details since submitting the registration form. In this case, you will receive a check in the mail as this type of refund is based on the information in the 2021 PIT form.