New Mexico: Bill Requires Wage Report, Information Return E-filing | AccountingWEB

New Mexico: Bill Requires Wage Report, Information Return E-filing

A bill – NM SB 344 – requiring businesses with more than 50 employees to file all employee information returns electronically was referred to the New Mexico Senate Corporations and Transportation Committee.

The bill also would require businesses with more than 50 employees to file quarterly wage reports electronically.

Penalties for failure to file electronic wage reports would be $500 for businesses with between 50 and 250 employees, and $1,000 for businesses with more than 250 employees.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.