Why is a New Mexico S corporation return receiving EF Message 0467, Special Method of Election Error?
EF Message 0467 states:
Special Method of Election Error
If a date has been entered for the use of one of the special methods of election, then the box indicating which method the entity is using must also be checked.
In this circumstance, a New Mexico screen A Apportionment has a date entered for Effective Date of Election is, but no specialty apportionment method has been indicated.
A date entry is only valid if the S corporation has been approved by the New Mexico DOR to use one of two specialty apportionment methods: Manufacturers or Headquarters Operation. If the S corporation is allowed and elects to use either of these two special methods, check the appropriate special method in the section C Mark the box indicating the special method elected​.
If the S corporation does not use either of these two special methods, remove the date from the Effective Date of election is field and leave it blank.