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For example, if a company filed a composite return for one year, can it file a non-composite return for the next year with no explanation?

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For example, if a company filed a composite return for one year, can it file a non-composite return for the next year with no explanation?

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You may not alternate. If you are a pass-through entity for federal purposes and file a form 1065 or 1120S, you must file Form PTE, Income and Information Return for Pass-Through Entities for New Mexico.

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