{"id":6870,"date":"2000-11-09T13:57:13","date_gmt":"2000-11-09T20:57:13","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/?p=6870"},"modified":"2026-04-11T13:35:29","modified_gmt":"2026-04-11T19:35:29","slug":"rea-magnet-wire-company-inc","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2000\/11\/09\/rea-magnet-wire-company-inc\/","title":{"rendered":"Rea Magnet Wire Company, Inc."},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;section&#8221; _builder_version=&#8221;3.22&#8243;][et_pb_row admin_label=&#8221;row&#8221; _builder_version=&#8221;3.25&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.7.0&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; sticky_enabled=&#8221;0&#8243;]<\/p>\n<div class=\"blogDateTitleContainer\">\n<div class=\"blogDateTitle\">11\/09\/2000<\/div>\n<\/div>\n<div class=\"blogItem\">\n<p><a href=\"\/businesses\/wp-content\/uploads\/sites\/9\/2020\/11\/00-30__rea_magnet_wire_company_inc.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">00-30<\/a><\/p>\n<p>The Taxpayer is engaged in the business of manufacturing. In 1998 the Taxpayer constructed a manufacturing facility in New Mexico, due in part to the tax credits available under New Mexico\u2019s Investment Credit Act. In 1999 the Taxpayer filed an application for the investment credit. \u00a0The application was approved in part and denied in part. \u00a0The Taxpayer protested the partial denial, which was based on the Department\u2019s determination that property depreciated as 25-year property for federal income tax purposes constituted real property and did not meet the definition of \u201cequipment\u201d set out in Section 7-9A-3(B) NMSA 1978. Held: Based on Department regulations in effect during the period at issue, air conditioning units and electrical equipment installed in the plant qualified as equipment eligible for the investment credit. No credit was available for the cost of constructing a raised roof or for other structural modifications required to house certain manufacturing equipment because construction costs do not qualify for the investment credit. Protest granted in part and denied in part.<\/p>\n<\/div>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.6.6&#8243; _module_preset=&#8221;default&#8221;]<\/p>\n<p><a href=\"\/all-nm-taxes\/tax-decisions-orders\/\">Back to Tax Decisions &amp; Orders<\/a><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>11\/09\/2000 00-30 The Taxpayer is engaged in the business of manufacturing. In 1998 the Taxpayer constructed a manufacturing facility in New Mexico, due in part to the tax credits available under New Mexico\u2019s Investment Credit Act. In 1999 the Taxpayer filed an application for the investment credit. \u00a0The application was approved in part and denied [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[43],"tags":[],"class_list":["post-6870","post","type-post","status-publish","format-standard","hentry","category-tax-decisions-orders"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rea Magnet Wire Company, Inc. : All NM Taxes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/2000\/11\/09\/rea-magnet-wire-company-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rea Magnet Wire Company, Inc. : All NM Taxes\" \/>\n<meta property=\"og:description\" content=\"11\/09\/2000 00-30 The Taxpayer is engaged in the business of manufacturing. 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