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RPD-41058 STATE OF NEW MEXICO - TAXATION AND REVENUE DEPARTMENT
Rev. 05/19/2015
ESTATE TAX RETURN Check One:
*95670200* Original Return
Mail to Taxation and Revenue Department, P.O. Box 25123, Santa Fe, NM 87504-5123. Amended Return
For assistance call (505) 827-0763. Estimated Return
Decedent’s name Date of death

Legal residence (domicile) at the time of death (county, state, and ZIP code, or foreign country) Decedent’s social security number

Circle one:
Decedent was a resident of New Mexico
at the time of death: Yes No
Enter the name and address of the personal representative of the decedent. If more than one personal representative, enter the primary contact and
attach a list of the name, address and phone number of each. See the instructions on the reverse.
Name of personal representative Street address, city, state, ZIP code Phone number

Name of attorney representing the estate Phone number

Street address, city, state, ZIP code of attorney

Name and address of the county in which the estate or any part of it is located. See instructions. Court petition number

Attach a copy of the federal form 706, United States Estate (and Generation-skipping Transfer) Tax Return, including all schedules.
For lines 1 and 2, refer to federal form 706.
1 Total gross estate less exclusion from federal form 706. 1
2 Credit for state death taxes from federal form 706. 2
3 For a resident decedent only, calculate the estate tax for a resident.
a The amount of the death tax paid another state and credited against
the federal estate tax. 3a
b Calculate the value of the property subject to the death tax imposed by
the other state. Attach a breakdown of the gross estate by state. 3b
c Divide 3b by line 1, and multiply the result by line 2. 3c
d Enter the lesser of line 3a or line 3c. 3d
e New Mexico estate tax for a resident. Subtract 3d from line 2. 3e
4 For a nonresident decedent, calculate the tax on the net estate located in New Mexico.
a Calculate the value of the property located in New Mexico. 4a
b Divide line 4a by line 1 and multiply the result by line 2. 4b
5 All taxpayers must enter the amount on line 3e or line 4b. This is the New Mexico estate tax. 5
6 Estimated payments. 6
7 Art acceptance credit. 7
8 Total payments and credits. Add lines 6 and 7. 8
9 New Mexico estate tax due. If line 5 is greater than line 8, subtract line 8 from line 5 and enter difference.
9
10 Refund. If line 8 is greater than line 5, subtract line 5 from line 8 and enter the difference. 10
I declare I have made diligent and careful search for property of every kind left by the decedent and that this return, including accompanying statements, has been
examined and is to the best of my knowledge and belief, true, correct and complete.

Signature of personal representative Print name Date

Signature of preparer Print name Date

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RPD-41058 STATE OF NEW MEXICO - TAXATION AND REVENUE DEPARTMENT
Rev. 05/19/2015
ESTATE TAX RETURN INSTRUCTIONS
WHO MUST FILE THIS FORM: Lines 4a and 4b. Complete if the decedent was a nonresident of New
The personal representative of every estate subject to the tax imposed by Mexico. A nonresident of New Mexico shall compute the tax by multiplying
the Estate Tax Act {7-7-1 to 7-7-12 NMSA 1978} who is required by the the federal credit by a fraction, the numerator of which is the value of the
laws of the United States to file a federal estate tax return shall file a return property located in New Mexico and the denominator of which is the value of
for the taxes due under the Estate Tax Act and a copy of the federal estate the decedent’s gross estate. Property located in New Mexico includes debts
tax return with the Department on or before the date the federal estate tax arising from transactions in, or having a business situs in New Mexico and
return is required to be filed. The due date is nine months following the date from the securities of any corporation or other entity organized under the
of death plus any extension of time for filing the federal estate tax return. laws of New Mexico. The transfer of the personal property of a nonresident
The estate tax is an amount equal to the federal credit for state death tax decedent is exempt from the tax imposed by this Act to the extent that the
imposed on the transfer of the net estate of every resident, and the net personal property of residents is exempt from taxation under the laws of
estate located in New Mexico of every nonresident. the state in which the nonresident is domiciled. Real property in this state
belonging to a nonresident decedent includes royalty interests in oil, gas
HOW TO COMPLETE THE FORM: or similar leases or property interests. For purposes of the Estate Tax Act,
Complete the information requested for the decedent, the personal repre- mortgages are considered personal property and cannot be netted against
sentative, the attorney if applicable, and the names of the county(ies) in the value of real property located in New Mexico.
which the estate or any part of the estate is located.
• Circle yes or no to indicate the residency status of the decedent. A Line 5. All taxpayers must complete this line. Enter line 3e if the decedent
decedent is a resident when domiciled in New Mexico at the time of is a resident or line 4b if the decedent is a nonresident.
death.
Line 7. Enter any art acceptance credit allowed. Works of art may be
• Enter the name and address of the personal representative or if more accepted in lieu of payment of estate tax under certain circumstances. A
than one, enter the primary contact on the form and attach a list of the decedent’s estate may pay all or a part of any tax owed by the decedent’s
name, address, and phone number of each personal representative. estate to the state by payment in the form of one or more works of art in
Personal representative means the executor or administrator of a the manner provided by the Art Acceptance Act {7-7-15 to 7-7-20 NMSA
decedent, or if no executor or administrator is appointed, qualified and 1978}, provided the decedent has so directed by a will, or the personal
acting, any person who has possession of any property. representative finds that this method of payment is advantageous to the
• Enter the name of the New Mexico county(ies) or the name and address estate. To claim the credit, attach the following to the New Mexico estate
of any county(ies) located outside of New Mexico in which the estate tax return: a) a copy of the appraisal of the work, b) the Board of Regents
or any part of the estate is located. If more than one county, attach a of the Museum of New Mexico’s judgment to accept the works of art as
list. NOTE: If you wish a certificate to be sent to a county outside New payment or partial payment for the estate tax, and (c) the Taxation and
Mexico, you must provide a mailing address for the out-of-state county Revenue Department’s notice of agreement to accept the works of art as
clerk’s office. The Department shall file a certificate indicating no tax payment. The value of the art cannot exceed the amount of the estate tax
due or that all tax is paid with the clerk of the county(ies) as specified owed by the decedent’s estate.
by the personal representative or other person who has filed the return.
Penalty will be assessed if the entity fails to file timely or to pay when due
Line 1 and 2. Complete the information as requested from federal form the amount on line 9. The Department will calculate penalty by multiplying
706, United States Estate (and Generation-skipping Transfer) Tax Return. the amount on line 9 by 2%, then by the number of months or partial months
for which the return or payment is late, not to exceed 20% of the tax due.
Lines 3a through 3e. Complete if the decedent was a resident of
The penalty may not be less than $5.00.
New Mexico on the date of death. Credit may be allowed for estate tax
paid to another state and credited against the federal estate tax. If no tax
Interest will be assessed if the amount on line 9 was not paid by the
was paid to another state, enter the amount from line 2 on line 3e and go
due date. Interest is computed on a daily basis, at the rate established by
to line 5. When the total gross estate is located within New Mexico, the
the U.S. Internal Revenue Code (IRC), of the unpaid amount for each day
entire portion of the federal state death tax credit is due.
the payment is late. The formula for calculating daily interest is: tax due x
A credit for tax paid to another state is allowed when any property the daily interest rate for the quarter x number of days late = interest due.
of a resident is subject to a death tax imposed by another state for
NOTE: If any adjustment is made in the basis for computation of any federal
which a federal credit for state death tax is allowed. To qualify, the tax
tax, the estate must file with New Mexico an amended return within 30
imposed by the other state must not be qualified by a reciprocal provi-
days. Attach a copy of the amended federal return and all attachments.
sion allowing the property to be taxed in the state of the decedent’s
domicile. The amount of the credit for tax paid to the other state is
NOTE: When you provide a check as payment, you autho-
equal to the lesser of:
rize us to use information from your check to make a one-
1. the amount of the death tax paid the other state and credited
time electronic fund transfer from your account. When we
against the federal estate tax, or
use information from your check to make an electronic fund
2. an amount computed by multiplying the federal credit by
transfer, funds may be withdrawn from your account as soon
a fraction, the numerator of which is the value of the property
subject to the death tax imposed by the other state and the as the same day you make your payment.
denominator of which is the value of the decedent’s gross estate.

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Removed Elements:

Rev. 01/2008
Original Return
Decedent’s name
Date of death
Name of attorney representing the estate
Phone number
Name and address of the county in which the estate or any part of it is located. See instructions.
Court petition number
1
Total gross estate less exclusion from federal form 706.
1
2
Credit for state death taxes from federal form 706.
2
3
For a resident decedent only, calculate the estate tax for a resident.
the federal estate tax.
3a
the other state. Attach a breakdown of the gross estate by state.
3b
c Divide 3b by line 1, and multiply the result by line 2.
3c
d Enter the lesser of line 3a or Line 3c.
3d
e New Mexico estate tax for a resident. Subtract 3d from line 2.
3e
a Calculate the value of the property located in New Mexico.
4a
b Divide line 4a by line 1 and multiply the result by line 2.
4b
must enter the amount on line 3e or line 4b.
This is the New Mexico estate tax.
5
6
Estimated payments.
6
7
Art acceptance credit.
7
8
Total payments and credits. Add lines 6 and 7.
8
New Mexico estate tax due.
If line 5 is greater than line 8, subtract line 8 from line 5 and enter difference.
9
10
Refund. If line 8 is greater than line 5, subtract line 5 from line 8 and enter the difference.
10
examined and is, to the best of my knowledge and belief, true, correct and complete.
Signature of personal representative
Print name
Date
Signature of preparer
Print name
Date
Rev. 01/2008
The personal representative of every estate subject to the tax imposed by the Estate Tax Act {7-7-1 to 7-7-12 NMSA 1978} who is required by the laws
of the United States to le a federal estate tax return shall le a return for the taxes due under the Estate Tax Act and a copy of the federal estate tax
return with the Department on or before the date the federal estate tax return is required to be led. The due date is nine months following the date of
death plus any extension of time for ling the federal estate tax return. The estate tax is an amount equal to the federal credit for state death tax imposed
on the transfer of the net estate of every resident, and the net estate located in New Mexico of every nonresident.
Complete the information requested for the decedent, the personal representative, the attorney if applicable, and the names of the county(ies) in which
the estate or any part of the estate is located.
•
Circle yes or no to indicate the residency status of the decedent. A decedent is a resident when domiciled in New Mexico at the time of death.
•
Enter the name and address of the personal representative or if more than one, enter the primary contact on the form and attach a list of the name,
address, and phone number of each personal representative. Personal representative means the executor or administrator of a decedent, or, if no
executor or administrator is appointed, qualied and acting, any person who has possession of any property.
•
Enter the name of the New Mexico county(ies), or the name and address of any county(ies) located outside of New Mexico in which the estate or
any part of the estate is located. If more than one county, attach a list. NOTE: If you wish a certicate to be sent to a county outside New Mexico,
you must provide a mailing address for the out-of-state county clerk’s ofce. The Department shall le a certicate indicating no tax due or that all
tax is paid with the clerk of the county(ies) as specied by the personal representative or other person who has led the return.
. Complete the information as requested from federal form 706, United States Estate (and Generation-skipping Transfer) Tax Return.
. Complete if the decedent was a resident of New Mexico on the date of death. Credit may be allowed for estate tax paid to
another state and credited against the federal estate tax. If no tax was paid to another state, enter the amount from line 2 on line 3e and go to line 5.
When the total gross estate is located within New Mexico, the entire portion of the federal state death tax credit is due.
A credit for tax paid to another state is allowed when any property of a resident is subject to a death tax imposed by another state for which a
federal credit for state death tax is allowed. To qualify, the tax imposed by the other state must not be qualied by a reciprocal provision allowing
the property to be taxed in the state of the decedent’s domicile. The amount of the credit for tax paid to the other state is equal to the lesser of:
1. the amount of the death tax paid the other state and credited against the federal estate tax, or
2. an amount computed by multiplying the federal credit by a fraction, the numerator of which is the value of the property
subject to the death tax imposed by the other state and the denominator of which is the value of the decedent’s gross estate.
. Complete if the decedent was a nonresident of New Mexico. A nonresident of New Mexico shall compute the tax by multiplying
the federal credit by a fraction, the numerator of which is the value of the property located in New Mexico and the denominator of which is the value of
the
decedent’s
gross
estate.
Property
located
in
New
Mexico
includes
debts
arising
from
transactions
in,
or
having
a
business
situs
in
New
Mexico
and
from the securities of any corporation or other entity organized under the laws of New Mexico. The transfer of the personal property of a nonresident
decedent is exempt from the tax imposed by this Act to the extent that the personal property of residents is exempt from taxation under the laws of
the state in which the nonresident is domiciled. Real property in this state belonging to a nonresident decedent includes royalty interests in oil, gas or
similar leases or property interests. For purposes of the Estate Tax Act, mortgages are considered personal property and cannot be netted against the
value of real property located in New Mexico.
. All taxpayers must complete this line. Enter line 3e if the decedent is a resident or line 4b if the decedent is a nonresident.
. Enter any art acceptance credit allowed. Works of art may be accepted in lieu of payment of estate tax under certain circumstances. A de
-
cedent’s estate may pay all or a part of any tax owed by the decedent’s estate to the state by payment in the form of one or more works of art in the
manner provided by the Art Acceptance Act {7-7-15 to 7-7-20 NMSA 1978}, provided the decedent has so directed by a will, or the personal representa
-
tive nds that this method of payment is advantageous to the estate. To claim the credit, attach the following to the New Mexico estate tax return: a) a
copy of the appraisal of the work, b) the Board of Regents of the Museum of New Mexico’s judgement to accept the works of art as payment or partial
payment for the estate tax, and (c) the Taxation and Revenue Department’s notice of agreement to accept the works of art as payment. The value of
the art cannot exceed the amount of the estate tax owed by the decedent’s estate.
will be assessed if the entity fails to le timely or to pay when due the amount on line 9. The Department will calculate penalty by multiplying
the amount on line 9 by 2%, then by the number of months or partial months for which the return or payment is late, not to exceed 20% of the tax due.
will be assessed if the amount on line 9 was not paid by the due date. Interest is computed on a daily basis, at the rate established by the
U.S. Internal Revenue Code (IRC), of the unpaid amount for each day the payment is late. The formula for calculating daily interest is: tax due x the
daily interest rate for the quarter x number of days late = interest due.
NOTE: If any adjustment is made in the basis for computation of any federal tax, the estate must le with New Mexico an amended return within 30
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