NM Taxation & Revenue Department

Open Tax credit · State

Web Hosting Gross Receipts Tax Deduction

Administered by NM Taxation & Revenue Department Receipts from hosting World Wide Web sites may be deducted from gross receipts. Hosting means storing informati...

NM Taxation & Revenue Department

Open Tax credit · State

Technology Readiness Gross Receipts Initiative

TGRG was initially a pilot program. A bill passed by the state legislature in March 2022 has made this into a five-year initiative. The program helps companies...

NM Taxation & Revenue Department

$150,000

max award

Open Tax credit · State

Technology Jobs and Research and Development Tax Credit

The purpose of the credit is to provide a favorable tax climate for technology-based businesses engaging in research, development and experimentation and to pro...

NM Taxation & Revenue Department

Open Tax credit · State

Spaceport-Related Activities Gross Receipts Tax Deductions

There are 4 separate deductions connected with the operation of a spaceport in New Mexico. Receipts from recovering space vehicles or payloads Receipts from pre...

NM Taxation & Revenue Department

Open Tax credit · State

Single Sales Factor

For the purposes of apportioning income, “manufacturing” excludes generation, and processing natural resources including hydrocarbons. In addition, in taxable y...

NM Taxation & Revenue Department

Open Tax credit · State

Rural Software Development Gross Receipts Tax Deduction

Administered by NM Taxation & Revenue Department Tax Allowance Receipts from the sale of software development services may be deducted from gross receipts tax w...

NM Taxation & Revenue Department

Open Tax credit · State

Rural Jobs Tax Credit

Administered by NM Taxation & Revenue Department This credit can be applied to taxes due on (state) gross receipts, corporate income, or personal income tax. Ru...

NM Taxation & Revenue Department

Open Tax credit · State

Renewable Energy Production Tax Credit

A corporate or personal taxpayer who owns a qualified energy generator is eligible for a tax credit in an amount equal to 1 cent per kilowatt hour of electricit...

NM Taxation & Revenue Department

Open Tax credit · State

New Mexico R&D Tax Credit

A taxpayer conducting qualified research at a qualified facility and making qualified expenditures is eligible to claim the basic technology jobs and research a...

NM Taxation & Revenue Department

Open Tax credit · State

Military Acquisition Program Tax Deduction

Administered by NM Taxation & Revenue Department Receipts from transformational acquisition programs performing research and evaluation at New Mexico major rang...

NM Taxation & Revenue Department

Open Tax credit · State

Locomotive Fuel Gross Receipts & Compensating Tax Deduction

Administered by NM Taxation & Revenue Department Receipts from the sale of fuel to a common carrier to be loaded or used in a locomotive engine are deductible f...

NM Taxation & Revenue Department

Open Tax credit · State

Investment Tax Credit for Manufacturers

Administered by NM Taxation & Revenue Department Manufacturers may take a credit against gross receipts, compensating or withholding taxes equal to 5.125% of th...

NM Taxation & Revenue Department

$30,000,000

max award

Open Tax credit · State

High Wage Jobs Tax Credit

Administered by NM Taxation & Revenue Department Please Note: Changes were made to the High Wage Jobs Tax Credit in the recent 2019 Legislative Session. These c...

NM Taxation & Revenue Department

$12,750

max award

Open Tax credit · State

Film Post-Production Tax Credits

A film production company that meets the requirements of the Film Production Tax Credit Act may apply for, and the taxation and revenue department may allow, a...

NM Taxation & Revenue Department

Open Tax credit · State

Consumables Gross Receipts Tax Deduction for Manufacturers

A seller may deduct receipts from sales to a manufacturer of tangible personal property that becomes an ingredient or component part of a manufactured product....

NM Taxation & Revenue Department

Open Tax credit · State

Biomass-Related Equipment & Materials Deduction

Administered by NM Taxation & Revenue Department The value of equipment such as a facility, feedstock processor, interconnection transformer, or biomass materia...

NM Taxation & Revenue Department

Open Tax credit · State

Biodiesel Blending Facility Tax Credit

Administered by NM Taxation & Revenue Department An operator of a refinery in New Mexico, any person who blends special fuel in New Mexico, or the owner of spec...

NM Taxation & Revenue Department

Open Tax credit · State

Angel Investment Credit

A taxpayer who files a New Mexico income tax return and who is a “qualified investor” may take a tax credit of up to $62,500 (25% of a qualified investment) for...

NM Taxation & Revenue Department

$62,500

max award

Open Tax credit · State

Alternative Energy Product Manufacturer’s Tax Credit

Administered by NM Taxation & Revenue Department A tax credit for up to 5% of qualified expenditures for manufacturing equipment used in a manufacturing operati...

NM Taxation & Revenue Department

$30,000,000

max award

Open Tax credit · State

Aircraft Deduction

Administered by NM Taxation & Revenue Department Receipts from selling aircraft parts or maintenance services for aircraft or aircraft parts Receipts of an airc...

NM Taxation & Revenue Department

Open Tax credit · State

Advanced Energy Deduction & Advanced Energy Tax Credit

Administered by NM Taxation & Revenue Department Receipts from selling or leasing tangible personal property or services that are eligible generation plant cost...

NM Taxation & Revenue Department