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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
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Experience:  10 years experience
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An individual owns property in New Mexico which is used for

Customer Question

An individual owns property in New Mexico which is used for nightly rentals; a management company handles the day to day business and pays the state and local taxes.
1) Does the management company owe the taxes, since they handle the business, or is the property owner actually the legally responsible person?
2) Does the property owner, living in another state, owe New Mexico state income tax?
Submitted: 9 months ago.
Category: Tax
Expert:  Mark Taylor replied 9 months ago.

Hi, my name is Mark. I will be happy to help you with your questions. The property owner would be responsible for the taxes. The property owner would be responsible for paying income tax to New Mexico even if he or she lives in another state.