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RPD-41379                         New Mexico Taxation and Revenue Department
Rev. 07/22/2021
                                  2021 New Mexico Corporate Income Tax 
                                  Net Operating Loss Carryforward 
                                               Schedule 1

                                                                                                                     *216160200*

Legal Entity Name                                                                                                             FEIN

Purpose of this Form
Use this form to calculate the amount of New Mexico net operating loss (NM NOL) carryforward available to be claimed as a deduction on line 16 of the 2021 CIT-1 return. This sched-
ule must be filed with the New Mexico 2021 CIT-1 if an NOL deduction is claimed. For each apportioned NM NOL carryforward in Column 4, use the 2021 New Mexico Corporate 
Income Tax Net Operating Loss Carryforward Schedule 2a to show how this amount for tax years 2013-2019 was calculated and how any prior year NOL deductions were applied. 
On column 5, indicaate only the amount of NM NOL carryforward in tax year 2020. Additional rows and columns are included to accommodate short periods. Please see instructions 
and examples after the schedules. 
                                                               From schedule 2a                                      If you need to add additional pages indicate 
                                                               column 8                                              the page number here: Page   1      of 
               Column 1           Column 2            Column 3 Column 4                              Column 5        Column 6                  Column 7
               TAX YEAR           LEGAL ENTITY        FEIN     APPORTIONED                           APPORTIONED     AMOUNT                    REMAINING 
               ENDING OF          NAME                         NM NOL CARRY-                         NM NOL CARRY-   APPLIED TO 2021           BALANCE
                  CARRY-                                       FORWARD for tax                       FORWARD for tax TAX YEAR
               FORWARD                                         years 2013-2019                       year 2020
          (MM/DD/CCYY)                                         (in the year in 
                                                               Column 1)

                                  SUBTOTAL AMOUNT UTILIZED. This amount will match the amount of CIT-1, Line 16, 
                                  and will not be in excess of 80% of the amount of CIT-1, Line 15.

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RPD-41379                       New Mexico Taxation and Revenue Department
Rev. 07/22/2021
                              2021 New Mexico Corporate Income Tax 
                    Net Operating Loss Carryforward Supplemental 
                                  Schedule 2a

                                                                                   *216170200*

Legal Entity Name                                                                                                                 FEIN

Purpose of this Form
Use this form to calculate the net operating loss (NOL) carryforward for tax years prior to January 1, 2020. Submit an additional schedule 2a for each member of the filing group that filed 
a separate corporate return for New Mexico, or for members that filed as part of a different filing group, for tax years beginning January 1, 2013, and prior to January 1, 2020, on which 
an NOL was reported. Each year or short period for which an NOL was reported should be a different entry on this schedule. The remaining balance after apportionment in column 8 
is entered on Schedule 1, column 4. For each prior-year NM NOL carryforward, you will also show how you applied the NOL in the tax years prior to January 1, 2020. Additional rows 
and columns are included in this schedule to accommodate short periods. Please see instructions and examples after the schedules. 

Column 1            Column 2      Column 3    Column 4                    Column 5 Column 6                                       Column 7         Column 8
TAX PERIOD          NOL GENERATED ADJUSTING   ADJUSTED NET   AMOUNT OF NOL         REMAINING                                      APPORTIONMENT    REMAINING 
ENDING              IN THE YEAR   ENTRY (+/-) OPERATING LOSS UTILIZED IN TAX       BALANCE BEFORE                                 FACTOR           BALANCE AFTER 
OF NOL              LISTED IN                                YEARS 2013-2019       APPORTIONMENT                                                   APPORTIONMENT 
(MM/DD/CCYY)        COLUMN (1)                               (from Schedule 2b)                                                                    (enter on schedule 
                                                                                                                                                   1, Column 4)

                                                                                                                                                  %

                                                                                                                                                  %

                                                                                                                                                  %

                                                                                                                                                  %

                                                                                                                                                  %

                                                                                                                                                  %

                                                                                                                                                  %

                                                                                                                                                  %

                                                                                                                                                  %

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RPD-41379                        New Mexico Taxation and Revenue Department
Rev. 07/22/2021
                    2021 New Mexico Corporate Income Tax 
                    Net Operating Loss Carryforward Supplemental 
                                      Schedule 2b

                                                                                             *216180200*

Legal Entity Name                                                                                                                      FEIN

Purpose of this Form
Use this form to show how the amount of NM NOL carryforward shown on column 5 of Schedule 2a was applied for the tax years prior to January 1, 2020. If you are member of a filing group 
and filed as separate companies in prior years, you must complete a separate Schedule 2b for each company to show how each NM NOL carried forward was generated and utilized. Additional 
rows and columns are included in this schedule to accommodate short periods. Please see instructions and examples after the schedules. 

                                                            TAX PERIOD LOSS IS UTILIZED (MM/DD/CCYY)

                                                                                                                                           AMOUNT OF NOL 
TAX PERIOD          ADJUSTED NET 
                                                                                                                                           UTILIZED IN TAX 
ENDING              OPERATING LOSS 
                                                                                                                                           YEARS 2013-2019 
(MM/DD/CCYY)        (same as Schedule 
                                                                                                                                           (enter on Schedule 
                    2a, column 4)
                                                                                                                                           2a, column 5)

          TOTAL  AMOUNT OF  LOSS 
          UTILIZED IN THE TAX YEAR

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RPD-41379
Rev. 07/22/2021   New Mexico Taxation and Revenue Department
                  2021 New Mexico Corporate Income Tax 
                  Supplemental- Source of the NM NOL

                                                            *216190200*

Legal Entity Name                                           FEIN

Purpose of this Form
Identify the source of the NM NOL when it is established on the New Mexico income tax return of an entity other than the 
entity claiming the NM NOL carryforward. If you are reporting all or a portion of a NM NOL that was established on the New 
Mexico income tax return of an entity other than the entity claiming the NM NOL carryforward, report the name, FEIN, the 
tax year of the return as reported on the New Mexico Income tax return that established the NM NOL for the entity, and the 
amount of the NM loss incurred. 

                                                            TAX YEAR OF RETURN AMOUNT OF 
LEGAL NAME OF ENTITY            FEIN
                                                            ESTABLISHING LOSS  NM NOL

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New Mexico Taxation and Revenue Department
2021 New Mexico Corporate Income Tax Net Operating Loss Carryforward
Instructions for Schedules 1, 2a, and 2b

About the New Mexico Net Operating Loss a filing group as properly determined under the Corporate
The New Mexico net operating loss (NOL) deduction is the Income and Franchise Tax. The NOL carryover also includes
portion of the NOL carryover that may be deducted from the the portion of an apportioned net loss properly reported to
taxpayer’s apportioned net income under the Internal Revenue New Mexico for a taxable year beginning on or after January
Code as of January 1, 2018 for the taxable year in which the 1, 2020, on a separate year return, to the extent extent the
deduction is taken, including the 80% limitation of Section 172(a) taxpayer would have been entitled to include the portion of
of the Internal Revenue Code as of January 1, 2018, calculated the apportioned net loss in the taxpayer’s consolidated NOL
on the basis of the taxpayer’s apportioned net income. carryforward under the IRC, including IRC Sec. 382, and the
consolidated filing rules if the taxpayer filed a consolidated
This means that New Mexico conforms with the federal law federal return including the consolidated filing rules.
regarding NOLs before the changes provided in the federal
2020 CARES Act. The New Mexico NOL deduction includes The NOL carryover is then reduced by the amount of the net
the 80% limitation to the deduction that may be taken from the operating loss carryover attributed to an entity that has left the
taxpayer’s apportioned net income and does not allow for the unitary filing group, computed in a manner consistent with the
carryback of an NOL deduction to prior years. consolidated filing requirements of the Internal Revenue Code
and applicable regulations, as if the taxpayer were filing a
Determining the grandfathered in NOL carryover consolidated return. The amount of NOL carryover for the
current year is also reduced by the amount of net operating
The amount of NOL carryover for the taxpayer includes the loss deductions properly taken by the taxpayer in past years,
amount of any grandfathered NOL carryover and is recorded charged against grandfathered NOLs or NOLs created for
on Supplemental Carryforward Schedule 2a. This is the amount years after January 1, 2020, in the order of the oldest filing
of net loss properly reported to New Mexico for taxable years year for which the net loss was created, on a proportional
beginning January 1, 2013 and prior to January 1, 2020 as part based on the net loss for the members of the group, consistent
of a timely filed original return, or an amended return for those with federal consolidated filing rules.
taxable years filed prior to January 1, 2020, to the extent
such loss can be attributed to one or more corporations that Instructions for completing NOL Carryforward
are properly included in the taxpayer’s return for the first tax- Schedule 1.
able year beginning on or after January 1, 2020. That net loss Use this form to calculate the amount of New Mexico NOL
must be reduced by adding back deductions that were taken carryforward available to be claimed as a deduction on line
by the corporation or corporations for royalties or interest paid 16 of the 2021 CIT-1 return.
to one or more related corporations, but only to the extent that
such adjustment would not create a net loss for such related Column 1. TAX YEAR CARRYFORWARD. Enter the tax
corporations. year of the New Mexico NOL carryforward.

The net loss included in the grandfathered carryover must also Column 2. LEGAL ENTITY NAME. Enter the name on the
be reduced by the amount of net operating loss deductions entity that reported the NOL. Be sure to list each company
taken prior to January 1, 2020 that would be charged against on a separate line.
those losses consistent with the Internal Revenue Code and
provisions of the Corporate Income and Franchise Tax Act ap-
Column 3. FEIN. Enter the FEIN for the entity on column 2.
plicable to the year of the deduction. Finally, the remaining net
loss must be apportioned to New Mexico using the apportion-
ment factors that can properly be attributed to the corporation Column 4. APPORTIONED NM NOL CARRYFORWARD
or corporations for the year of the net loss. for tax years 2013-2019. Enter the apportioned New Mex-
ico Carryforward for the year in column 1 and entity in col-
umn 2. This amount is from the entity’s Schedule 2a, column
Calculating the NOL carryover 8, for that corresponding tax year.
Use NOL Carryforward Schedule 1 to determin the amount of
the NM NOL Carryforward. The taxpayer’s NOL carryover in- Column 5. APPORTIONED NM NOL CARRY-FORWARD
cludes the portion of the unused grandfathered NOL carryover for tax year 2020. Enter the amount of apportioned net loss
for that year and the apportioned net loss properly reported properly reported on a corporate return in tax year 2020 for
the filing group, or on a separate return, to the extent that it
on an original or amended tax return for taxable years begin-
is allowed to be included. Reduce this amount by subtracting
ning on or after January 1, 2020 by the taxpayer, including the NOL of any entity that has left the filing group.

CIT-NOL - 1 -

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New Mexico Taxation and Revenue Department
2021 New Mexico Corporate Income Tax Net Operating Loss Carryforward
Instructions for Schedules 1, 2a, and 2b (continued)

Column 6. AMOUNT APPLIED TO 2021 TAX YEAR. Enter Column 6. REMAINING BALANCE BEFORE APPORTION-
the amount from each line you would like to have applied to MENT. Subtract the amount in column 5 from the amount in
the 2021 NOL deduction. Add all amounts in this column and column 4.
enter the subtotal at the bottom of the schedule and on line
16 of the CIT-1. NOTE: The subtotal amount must not be in
excess of 80% of the amount of CIT-1, Line 15. Column 7. APPORTIONMENT FACTOR. Use the apportion-
ment factor used in the year of the net loss.

Column 7. REMAINING BALANCE. Subtract the amount in
column 4 from the amount in column 5. Column 8. REMAINING BALANCE AFTER APPORTION-
MENT. Multiply the apportionment factor in column 7 by the
remaining balance in column 6.
Instructions for completing Supplemental
Carryforward Schedule 2a.
Complete a Schedule 2a form for each legal entity shown on Instructions for completing Supplemental
Schedule 1 in order to calculate the amount of apportioned Carryforward Schedule 2b.
New Mexico NOL carryforward that will be shown on column Use this form to show how the amount of NM NOL carryforward
4 of Schedule 1. Each separate corporation or group must shown on column 5 of Schedule 2a was applied. Additional
separately show the calculation of any grandfathered NOL on rows and columns are included in this schedule to accommo-
this form. date short periods. This form must be filed along with form 2a.
Enter the corresponding tax year and adjusted NOL from
Column 1. TAX PERIOD ENDING OF NOL. Enter the tax year Schedule 2a. The amount in the column Adjusted Net Op-
of the New Mexico NOL carryforward. erating Loss is the same as Schedule 2a, column 4. The
columns in the center of the schedule is used to show the
tax years where the loss was utilized. The column on the far
Column 2. NOL GENERATED IN THE YEAR LISTED. Enter
the amount of the loss that was reported on the return in the right, Amount of NOL Utilized In Tax Years 2013-2019, is a
year listed column 1. total of the amounts utilized and corresponds to Schedule
2a, Column 5.
Column 3. ADJUSTING ENTRY (+/-).
Instructions for Source of the New Mexico
Add-back any deductions that were taken by the corporation or
corporations for royalties or interest paid to one or more related NOL schedule.
corporations. If this is a return for a filing group that is claiming some
amount of grandfathered NOL carryover, list the amount in-
cluded on that grandfathered NOL by a separate corporate
Column 4. ADJUSTED NET OPERATING LOSS. Enter the
entity or other filing group.
difference of column 2 and column 3.

Column 5. AMOUNT OF NOL UTILIZED IN TAX YEARS
2013-2019. Enter the total amount of the NOL applied in tax
years 2013-2019 shown on Schedule 2b.

CIT-NOL - 2 -

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RPD-41379                     New Mexico Taxation and Revenue Department
Rev. 07/22/2021
                              2021 New Mexico Corporate Income Tax 
                              Net Operating Loss Carryforward 
                                           Schedule 1

          Legal Entity Name                                                                                      FEIN
               TAXPAYER #1 and Affiliates                                                                                       11-1111111
          Purpose of this Form
          Use this form to calculate the amount of New Mexico net operating loss (NM NOL) carryforward available to be claimed as a deduction on line 16 of the 2021 
          CIT-1 return. This schedule must be filed with the New Mexico 2021 CIT-1 if an NOL deduction is claimed. For each apportioned NM NOL carryforward in Col-
          umn 4, use the 2021 New Mexico Corporate Income Tax Net Operating Loss Carryforward Schedule 2a to show how this amount for tax years 2013-2019 was 
          calculated and how any prior year NOL deductions were applied. On column 5, indicaate only the amount of NM NOL carryforward in tax year 2020. Additional 
          rows and columns are included to accommodate short periods. Please see instructions and examples after the schedules. 
                                                                                                                 If you need to add additional pages indicate 
                                                        From schedule 2a                                         the page number here: Page   1      of 
                                                        column 8
               Column 1       Column 2     Column 3     Column 4                                 Column 5        Column 6                 Column 7
               TAX YEAR       LEGAL ENTITY FEIN         APPORTIONED                              APPORTIONED     AMOUNT                   REMAINING 
               ENDING OF      NAME                      NM NOL CARRY-                            NM NOL CARRY-   APPLIED TO 2021          BALANCE
               CARRY-                                   FORWARD for tax                          FORWARD for tax TAX YEAR
               FORWARD                                  years 2013-2019                          year 2020
               (MM/DD/CCYY)                             (in the year in 
                                                        Column 1)
               12/31/2013     TAXPAYER 1                      0

               12/31/2014     TAXPAYER 1                82,316EXAMPLE50,000                                                               32,316

               12/31/2014     TAXPAYER 2                120,000                                                                           120,000

               06/30/2015     TAXPAYER 1                836,473                                                                           836,473

               06/30/2015     TAXPAYER 2                60,000                                                                            60,000

               12/31/2016     TAXPAYER 2                300,000                                                                           300,000

               12/31/2019     TAXPAYER 1                724,865                                                                           724,865

               12/31/2019     TAXPAYER 2                130,000                                                                           130,000

               12/31/2020     TAXPAYER 1                                                         45,000                                   45,000

                              SUBTOTAL AMOUNT UTILIZED. This amount will match the amount of CIT-1, Line 16,     50,000
                              and will not be in excess of 80% of the amount of CIT-1, Line 15.  

CIT-NOL                                                 - 3 -

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RPD-41379                       New Mexico Taxation and Revenue Department
Rev. 07/22/2021
                    2021 New Mexico Corporate Income Tax 
                    Net Operating Loss Carryforward Supplemental Schedule 2a

Legal Entity Name                                                                                                                 FEIN
                    TAXPAYER #1                                                                                                                   11-1111111
Purpose of this Form
Use this form to calculate the net operating loss (NOL) carryforward for tax years prior to January 1, 2020. Submit an additional schedule 2a for each member of the filing group that filed 
a separate corporate return for New Mexico, or for members that filed as part of a different filing group, for tax years beginning January 1, 2013 and prior to January 1, 2020 on which 
an NOL was reported. Each year or short period for which an NOL was reported should be a different entry on this schedule. The remaining balance after apportionment in column 8 
is entered on Schedule 1, column 4. For each prior-year NM NOL carryforward, you will also show how you applied the NOL in the tax years prior to January 1, 2020. Additional rows 
and columns are included in this schedule to accommodate short periods. Please see instructions and examples after the schedules. 

Column 1            Column 2      Column 3    Column 4                    Column 5  Column 6                                      Column 7        Column 8
TAX PERIOD          NOL GENERATED ADJUSTING   ADJUSTED NET   AMOUNT OF NOL          REMAINING                                     APPORTIONMENT   REMAINING 
ENDING              IN THE YEAR   ENTRY (+/-) OPERATING LOSS UTILIZED IN TAX        BALANCE BEFORE                                FACTOR          BALANCE AFTER 
OF NOL              LISTED IN                                YEARS 2013-2019        APPORTIONMENT                                                 APPORTIONMENT 
(MM/DD/CCYY)        COLUMN (1)                               (from Schedule 2b)                                                                   (enter on schedule 
                                                                                                                                                  1, Column 4)

12/31/2013          12,000,000    (2,500,000) 9,500,000                   9,500,000 0                                             15.2345%                  0

12/31/2014          5,000,000     (1,000,000) 4,000,000                   3,600,000 400,000                                       20.5789%                  82,316
                                              EXAMPLE

06/30/2015          3,000,000     (500,000)   2,500,000                   0         2,500,000                                     33.4589%        836,473

12/31/2019          2,500,000     (1,000,000) 1,500,000                   0         1,500,000                                     48.3243%        724,865

CIT-NOL                                                 - 4 -                                                                                     www.tax.newmexico.gov

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RPD-41379                        New Mexico Taxation and Revenue Department
Rev. 07/22/2021
                                 2021 New Mexico Corporate Income Tax 
                    Net Operating Loss Carryforward Supplemental Schedule 2b

Legal Entity Name TAXPAYER #1                                                                   FEIN 11-1111111

Purpose of this Form
Use this form to show how the amount of NM NOL carryforward shown on column 5 of Schedule 2a was applied for the tax years prior to January 1, 2020. If you are member of a filing 
group and filed as separate companies in prior years, you must complete a separate Schedule 2b for each company to show how each NM NOL carried forward was generated and 
utilized. Additional rows and columns are included in this schedule to accommodate short periods. Please see instructions and examples after the schedules. 

                                            TAX PERIOD LOSS IS UTILIZED (MM/DD/CCYY)

                 ADJUSTED NET                                                                                                                               AMOUNT OF 
TAX PERIOD          OPERATING                                                                                                                               NOL UTILIZED 
ENDING           LOSS (same as                                                                                                                              IN TAX YEARS 
                                 12/31/2015 12/31/2016                     12/31/2017 12/31/2018
(MM/DD/CCYY)        Schedule 2a,                                                                                                                            2013-2019 (enter 
                    column 4)                                                                                                                               on Schedule 2a, 
                                                                                                                                                            column 5)
12/31/2013          9,500,000    5,200,000  4,000,000                      300,000                                                                          9,500,000

12/31/2014          4,000,000                                              2,800,000  800,000                                                               3,600,000

06/30/2015          2,500,000               EXAMPLE                                                                                                         0

12/31/2019          1,500,000                                                                                                                               0

                                 5,200,000  4,000,000                      3,100,000  800,000
TOTAL  AMOUNT OF  LOSS 
UTILIZED IN THE TAX YEAR

CIT-NOL                                                - 5 -                                         www.tax.newmexico.gov

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RPD-41379                      New Mexico Taxation and Revenue Department
Rev. 07/22/2021
                            2021 New Mexico Corporate Income Tax 
                    Net Operating Loss Carryforward Supplemental Schedule 2a

Legal Entity Name                                                                                                                 FEIN
                    TAXPAYER #2                                                                                                                   22-2222222
Purpose of this Form
Use this form to calculate the net operating loss (NOL) carryforward for tax years prior to January 1, 2020. Submit an additional schedule 2a for each member of the filing group that filed 
a separate corporate return for New Mexico, or for members that filed as part of a different filing group, for tax years beginning January 1, 2013 and prior to January 1, 2020 on which 
an NOL was reported. Each year or short period for which an NOL was reported should be a different entry on this schedule. The remaining balance after apportionment in column 8 
is entered on Schedule 1, column 4. For each prior-year NM NOL carryforward, you will also show how you applied the NOL in the tax years prior to January 1, 2020. Additional rows 
and columns are included in this schedule to accommodate short periods. Please see instructions and examples after the schedules. 

Column 1            Column 2      Column 3    Column 4                   Column 5 Column 6                                        Column 7        Column 8
TAX PERIOD          NOL GENERATED ADJUSTING   ADJUSTED NET   AMOUNT OF NOL        REMAINING                                       APPORTIONMENT   REMAINING 
ENDING              IN THE YEAR   ENTRY (+/-) OPERATING LOSS UTILIZED IN TAX      BALANCE BEFORE                                  FACTOR          BALANCE AFTER 
OF NOL              LISTED IN                                YEARS 2013-2019      APPORTIONMENT                                                   APPORTIONMENT 
(MM/DD/CCYY)        COLUMN (1)                               (from Schedule 2b)                                                                   (enter on schedule 
                                                                                                                                                  1, Column 4)

12/31/2014          200,000       1,000,000   1,200,000                  0        1,200,000                                       .10             120,000

06/30/2015          100,000       500,000     600,000                    0        600,000                                         .10                       60,000
                                              EXAMPLE

12/31/2016          500,000       2,500,000   3,000,000                  0        3,000,000                                       .10             300,000

12/31/2019          300,000       1,000,000   1,300,000                  0        1,300,000                                       .10             130,000

CIT-NOL                                                 - 6 -                                                                                     www.tax.newmexico.gov

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RPD-41379                        New Mexico Taxation and Revenue Department
Rev. 07/22/2021
                                 2021 New Mexico Corporate Income Tax 
                    Net Operating Loss Carryforward Supplemental Schedule 2b

Legal Entity Name                                                                                                                      FEIN
                    TAXPAYER #2                                                                                                             22-2222222

Purpose of this Form
Use this form to show how the amount of NM NOL carryforward shown on column 5 of Schedule 2a was applied for the tax years prior to January 1, 2020. If you are member of a filing 
group and filed as separate companies in prior years, you must complete a separate Schedule 2b for each company to show how each NM NOL carried forward was applied. Additional 
rows and columns are included in this schedule to accommodate short periods. Please see instructions and examples after the schedules. 

                                   TAX PERIOD LOSS IS UTILIZED (MM/DD/CCYY)

                  ADJUSTED NET                                                                                                              AMOUNT OF 
TAX PERIOD          OPERATING                                                                                                               NOL UTILIZED 
ENDING            LOSS (same as                                                                                                             IN TAX YEARS 
(MM/DD/CCYY)        Schedule 2a,                                                                                                            2013-2019 (enter 
                    column 4)                                                                                                               on Schedule 2a, 
                                                                                                                                                      column 5)

12/31/2014          1,200,000                                                                                                                         0

                                   EXAMPLE
06/30/2015          600,000                                                                                                                           0

12/31/2016          3,000,000                                                                                                                         0

12/31/2019          1,300,000                                                                                                                         0

TOTAL  AMOUNT OF  LOSS 
                                 0 0                                       0 0                                                             0
UTILIZED IN THE TAX YEAR

CIT-NOL                              - 7 -                                                                                                  www.tax.newmexico.gov

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