New Mexico technology jobs and research credit
Tax credit
Agency: New Mexico Taxation and Revenue Department. Agency source
This directory is not tax advice. Confirm eligibility, tax-year rules, deadlines and filing requirements with a tax professional.
Check program requirements [New Mexico technology jobs and research application]
- Who qualifies
- Taxpayers conducting qualified research at eligible New Mexico facilities. An additional credit requires payroll growth of $75,000 per $1 million in qualifying expenditures. [New Mexico technology jobs and research application]
- What it’s worth
- Basic credit of 5% of qualified expenditures, or 10% in a qualifying rural area; an additional 5% or 10% may apply when the payroll test is met. [New Mexico technology jobs and research application]
- How to claim
- Apply for approval with Form RPD-41385 and expense and payroll documentation. Confirm the current claim form after approval. [New Mexico technology jobs and research application]
- Deadlines and application windows
- Basic-credit application: within one year after the expense reporting period ends. Additional-credit application: within one year after the expense tax year ends. [New Mexico technology jobs and research application]
Amounts are subject to the conditions in each listing. A source review does not mean applications are open or that a business qualifies.
Official sources
Listing reviewed