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Federal input screens

Shareholder Information > New Mexico tab

Use the state tabs in the
Shareholder Information
 window to enter state-specific information for shareholders. State tabs appear only if you've added states to the return.
To update a shareholder's state-specific information, select that shareholder in the
Shareholder Information
 window, then the state tab.

Fields and buttons — New Mexico information group box

If the shareholder is a nonresident, enter a code from the following table or select the code from the dropdown list to indicate the type of nonresident filing to be made by the shareholder. UltraTax CS defaults to calculating withholding on Form S-Corp-D and Form RPD-41359 for the shareholder. .
Code
Description
1
Withholding (default)
.
This is the default filing for a nonresident shareholder when a code is not selected from the drop-down list. Select
1
 to indicate the shareholder is subject to withholding tax on Form RPD-41367. UltraTax CS completes column 4 using the owner's share of net income shown in column 3. The tax withheld is reported on Form RPD-41359 for the shareholder.
2
Exempt from withholding and Form RPD-41353 required
.
Select
2
 to indicate the withholding tax calculated on Form RPD-41367 for this shareholder is paid by the owner under agreement. UltraTax CS will print the nonresident agreement Form RPD-41353.
3
Exempt from withholding and form RPD-41353 on file
Select
3
 to indicate the withholding tax calculated on Form RPD-41367 for this shareholder is paid by the owner under an existing agreement. Form RPD-41353 will not print for this shareholder.
4
Exempt from withholding for other reason
.
Select
4
 to indicate the withholding tax calculated on Form RPD-41367 for this shareholder is not required for a reason other than Form RPD-41353.
If the shareholder requires Form RPD-41353, enter a code from the following table or select the code from the dropdown list to indicate the type of agreement.
Code
Description
1
Current year
.
UltraTax CS marks the option on Form RPD-41353 indicating an agreement applies to the current year.
2
Indefinite term
.
UltraTax CS marks the option on Form RPD-41353 indicating an agreement is indefinite.
3
Through
.
UltraTax CS marks the option on Form RPD-41353 indicating an agreement is set through a specific date.
Enter the through date to be used in completing Form RPD-41353 when you have selected this option.
If the S-Corporation has elected to pay entity-level tax and the shareholder is excluded from paying entity-level tax, mark this box. UltraTax CS defaults to including all shareholders when the electing entity-level tax mark box is marked on Screen NMGenS.
Code
Description
1
Residency documentation of file
2
Form RPD-41353 is on file
3
Section 501(c)(3) organization
4
U.S, NM, or agency, instrumentality, or political subdivision
5
Indian nation, tribe, pueblo or agency, instrumentality, or political subdivision
6
Inability to make payment due to non-availability of funds
7
Timely election for federal income tax changing net income of a prior quarter
8
Elected to defer income and insufficient cash to remit withholding
9
Insurance company, reciprocal, or interinsurance exchange
10
Amount to withhold from is less than $100
11
Net income is subject to entity-level tax of an electing S-Corp
Mark this checkbox if the shareholder is a resident required to file Form RPD-41354. If this checkbox is marked, UltraTax CS prints Form RPD-41354 for this shareholder.
Use this statement for supplemental information specific to each shareholder and for items that are not pro rata. If you've pro-rata items that need to be reported to each shareholder, use Section A on the
NMKSep
 screen. UltraTax CS prints the information you enter in this statement in the Supplemental information statement on the Shareholder Worksheet.
If the shareholder files a married filing separate return, mark this box. This reduces the shareholder's net capital gains deduction by half.
Enter the shareholder's CRS identification number.
UltraTax CS calculates shareholders' net income on Form S-Corp-D, Line 7. To use an amount other than the program-calculated amount for this shareholder, enter an amount in the field.
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