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Form CIT-1 Corporate Income and Franchise Tax Return
(See instructions ) Amended Other dissolved merged or reorganized extension federal consolidated group Principal business activity in New Mexico quarterly separate corporate entity combination of unitary domestic corporations (1) Corporate Name (2) Federal Employer (3) Amount of quarterly tentative or other (4) Enter $50 for each corporation Identification Number payments to be applied to this return paying Franchise Tax *126080200* *126090200* *126280200* *126380200* 1 2 3 4 5 6 7 8 9 10 11 12 13 15 14 16 % 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 100% of dividends and Subpart F income received from 80% or more owned 17 00 19 00 19 Total Payments: 2012 CIT 1 (page 2) 2012 CIT 1 NEW MEXICO CORPORATE INCOME AND FRANCHISE TAX RETURN 2012 CIT A NEW MEXICO APPORTIONED INCOME FOR MULTISTATE CORPORATIONS (attach to CIT 1) 2012 CIT B 2012 CIT C COMPUTATION OF NEW MEXICO PERCENTAGE 2012 CIT D NEW MEXICO FOREIGN DIvIDEND DEDUCTION SCHEDULE 5 Property factor (Divide column 2 by column 1 and multiply by 100) % 6 Payroll factor (Divide column 2 by column 1 and multiply by 100) % 7 Sales factor (Divide column 2 by column 1 and multiply by 100) % 70% of dividends and Subpart F income received from less than 20% owned foreign corporations and reported on federal Form 1120 Schedule C 8 Net allocated income 8 TOTAL FACTORS (Add lines 5 6 and 7) 80% of dividends and Subpart F income received from corporations of which the taxpayer owns at least 20% of the stock of such corporation (by vote and value) but less than 80% (From federal Form 1120 Schedule C) 9 AVERAGE FACTOR (Divide line 8 by the number of factors computed above) 9 Net New Mexico allocated income A Have you changed the reporting of any class or type of allocated or apportioned income from the way it was reported in a prior taxable year? Yes No A State of incorporation Date of incorporation Allocation to New Mexico Amended RAR Amended Capital Loss Amended Returns Only: (Enter amount of all 2012 refunds received or overpayments applied to 2013 Also see instructions for line 19 ) applied from prior year Apportionable income (Subtract line 2 from line 1) APPORTIONED BUSINESS INCOME Attach a schedule if more space is needed B Date business began in New Mexico / / State of commercial domicile B For manufacturers electing to apportion income utilizing the four factor method enter date election was submitted been reported to New Mexico? YES NO If yes submit an amended New Mexico Corporate Income and Franchise Tax return and a copy of the amended federal return or the Revenue Agent's Report if applicable to the New Mexico Taxation and Revenue Department C Name and address of registered agent in New Mexico Column 1 Column 1 Column 2 Total everywhere Inside New Mexico PROPERTY FACTOR Average annual value of inventory Average annual value of real property Average annual value of personal property Rented property (Annual rental value times 8) Total property Column 2 Column 3 Related Expenses (Column 1 less Column 2) Column 4 COMPLETE THE FOLLOWING: D NAICS code (Required) Deduction for foreign dividends (From CIT D line 5) E Method used to determine New Mexico taxable income of the corporation: Enter here and on line 11 CIT 1 Page 2 Enter here and on line 2 of CIT A (Add lines 1 7) Enter here and on line 2 of CIT C (Add lines 1 7) F Indicate method of accounting: accrual Federal Employer Identification Number (FEIN) Federal Employer Identification Number (FEIN) Federal special deductions (From federal Form 1120) FOR DEPARTMENT USE ONLY foreign corporations included on federal Form 1120 Schedule C Foreign dividend gross up (From federal Form 1120 Schedule C) SEPARATE CORPORATE ENTITY FILERS ONLY: COMPLETE LINES 2 THROUGH 4 (See instructions) Franchise tax ($50 per corporation) Gross Amount Gross Receipts H Has this corporation's federal income tax liability changed for any year due to an IRS audit or the filing of an amended federal return that has not I If this return is a consolidated or combined return complete the following information for each corporation in the consolidated or combined group The total of Column 3 must equal line 19 of CIT 1 page 2 and the total of Column 4 must equal line 15 of CIT 1 page 2 If additional space is required attach a schedule in the same format If no please list each corporation added to or eliminated from the combined group Include each corporation's Federal Employer Identification Number If other than a corporation enter your legal entity type (for example: LLC or partnership): If this is the corporation's final return was the corporation: Income tax computation tax on the amount on line 9 (See tax table on page 4 of instructions) Interest from U S government obligations or federally taxed New Mexico bonds Interest income from municipal bonds (Exclude New Mexico bonds) J FOR COMBINED FILERS ONLY: Is this combination the same as filed last year? L Mark this box if your business activities were immune from New Mexico corporate income tax under P L 86 272 for the 2012 tax year You must also enter zero on line 1 and complete and attach Schedule CIT A mailing address city state ZIP code Mark this box if using method 4 to calculate penalty and interest on underpayment of estimated tax; (Attach RPD 41287) mm / yy mm / yy mm / dd / ccyy Net allocated income (From Line 8 column 3 CIT B) Net income tax (Subtract line 13 from line 12; Cannot be negative) New Mexico allocated income (From Line 9 column 4 CIT B) NEW MEXICO ALLOCATION OF NON BUSINESS INCOME New Mexico apportioned income (From Line 4 CIT A) NEW MEXICO APPORTIONED INCOME (Multiply line 3 by line 9 below) Enter result on line 4 and also on line 3 CIT C New Mexico base income (Add lines 1 and 2 and subtract line 3) NEW MEXICO CORPORATE INCOME AND FRANCHISE TAX RETURN New Mexico income tax MULTIPLY line 10 by the percentage on line 11 New Mexico net taxable income (From Line 9 CIT 1 page 2) New Mexico net taxable income (Subtract line 8 from line 7) New Mexico NOL carryover (Attach schedule) New Mexico percentage (Divide line 4 by line 1 and multiply by 100; cannot be less than 0 or more than 100%) New Mexico percentage (Enter 100% OR percentage from line 5 of CIT C ) New Mexico Public Federal Employer Identification No (Required) New Mexico CRS Identification No Regulation Commission No Non business Dividends Non business Interest Non business Partnership Income Non business Rents Non business Royalties Original Return other (specify) Other Non business Income (attach schedule) PAYROLL FACTOR Profit or Loss on Sale of Non business Assets SALES FACTOR SCHEDULE OF INCOME NOT DERIVED FROM THE TAXPAYER'S TRADE OR BUSINESS Subtotal (Add lines 16 and 17) Subtotal (Add lines 2 and 3) Subtotal (Subtract the sum of lines 5 and 6 from line 4) Taxable income before federal NOL & special deductions (From federal Form 1120) Taxpayer telephone number This schedule must be completed by taxpayers with income from inside and outside New Mexico We cannot accept computerized schedules in lieu of completing this form You must complete Column 1 Total everywhere and all other applicable line items for the return to be processed Round all dollar amounts This schedule must be used by taxpayers who completed CIT A CIT B or both Total compensation of employees Total income and franchise tax (Add lines 14 and 15) Total New Mexico deduction (Add lines 1 through 4; also enter on line 8 CIT 1) Total tax credits applied against the income tax liability on line 12 (From CIT CR line 20) Totals We cannot accept computerized schedules in lieu of completing this form Round all dollar amounts withdrawn date