{"id":1737,"date":"2020-10-22T12:53:17","date_gmt":"2020-10-22T18:53:17","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/individuals\/?page_id=1737"},"modified":"2023-05-10T11:50:15","modified_gmt":"2023-05-10T17:50:15","slug":"tax-credits","status":"publish","type":"page","link":"https:\/\/www.tax.newmexico.gov\/individuals\/tax-credits\/","title":{"rendered":"Tax Credits"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; background_repeat=&#8221;round&#8221; custom_margin=&#8221;0px||||false|false&#8221; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; use_background_color_gradient=&#8221;on&#8221; background_color_gradient_stops=&#8221;#ffffff 0%|#dedede  100%&#8221; background_color_gradient_start=&#8221;#ffffff&#8221; background_color_gradient_end=&#8221;#dedede &#8221; width_last_edited=&#8221;off|desktop&#8221; custom_margin=&#8221;0px||||false|false&#8221; custom_padding=&#8221;4px||4px||true|false&#8221; background_color_gradient_stops_tablet=&#8221;#ffffff 0%|#dedede  100%&#8221; background_color_gradient_stops_phone=&#8221;#ffffff 0%|#dedede  100%&#8221; border_width_all=&#8221;1px&#8221; border_color_all=&#8221;#c9c9c9&#8243; global_module=&#8221;210&#8243; saved_tabs=&#8221;all&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_dmb_breadcrumbs font_icon=&#8221;%%20%%&#8221; home_icon=&#8221;%%236%%&#8221; use_home_text=&#8221;on&#8221; home_text=&#8221;Individuals&#8221; use_home_url=&#8221;on&#8221; home_url=&#8221;\/individuals\/individuals\/&#8221; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; body_text_color=&#8221;#282728&#8243; separator_text_color=&#8221;#282728&#8243; link_text_color=&#8221;#000000&#8243; custom_padding=&#8221;0px||0px|15px|false|false&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_dmb_breadcrumbs][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; specialty=&#8221;on&#8221; padding_top_bottom_link_2=&#8221;false&#8221; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;1_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_blurb title=&#8221;Explore Section &#038; Events&#8221; use_icon=&#8221;on&#8221; font_icon=&#8221;&#xe044;||divi||400&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;7b5e95ba-231a-438c-8dd9-6676746c29e6&#8243; link_option_url_new_window=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_blurb][et_pb_sidebar area=&#8221;et_pb_widget_area_2&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;50d7f88b-470d-49c8-b370-96c4a9bca4df&#8221; saved_tabs=&#8221;all&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_sidebar][\/et_pb_column][et_pb_column type=&#8221;3_4&#8243; specialty_columns=&#8221;3&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_row_inner _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#ffffff&#8221; custom_padding=&#8221;|20px||20px|false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column_inner saved_specialty_column_type=&#8221;3_4&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_post_title meta=&#8221;off&#8221; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; title_font=&#8221;|300|||||||&#8221; title_font_size=&#8221;50px&#8221; title_letter_spacing=&#8221;-3px&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_post_title][et_pb_text _builder_version=&#8221;4.21.0&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<h2>New Mexico offers business-related tax credits to corporations and individuals who meet the requirements set out in the statutes for each credit.<\/h2>\n<p>The statutes creating the credits also designate the taxes against which the credit may be applied.\u00a0Credits may apply to the Combined Report System (CRS) gross receipts, compensating and withholding taxes and to annual corporate and personal income taxes. This area of the\u00a0site summarizes New Mexico\u2019s business-related tax credits and the procedures for claiming them. General types of tax credits are:<\/p>\n<ul>\n<li><span>personal income tax credits;<\/span><\/li>\n<li>conservation and preservation tax credits;<\/li>\n<li>general industry incentive tax credits;<\/li>\n<li>specific industry incentive tax credits;<\/li>\n<li>employment enhancement tax credits; and<\/li>\n<li>gross receipts tax credits.<\/li>\n<\/ul>\n<p><span>To review the specific tax credits listed within each tax credit type, click the links on the left-hand side of this page.<\/span><\/p>\n<p><span><strong>Please note that some credits have limited eligibility dates.<\/strong>\u00a0The Taxation and Revenue Department cannot consider claims for periods prior to dates stated in the legislation or claims that are filed after the deadline has passed.<\/span><\/p>\n<p><span>Please be aware that legislation, regulations, court decisions, revenue rulings, notices and announcements subsequent to the publication date may affect the information\u2019s accuracy. You may apply credits only to tax liabilities designated by law. Some credits are refundable or transferrable.\u00a0<\/span><\/p>\n<h3><span>Tax Credit Forms<\/span><\/h3>\n<h4>Directions<\/h4>\n<h4>1. Expand the folders below or search to find what you are looking for.<\/h4>\n<h4>2. Double-click a form to download it.<\/h4>\n<p><em>Note: Your browser may ask you to allow pop-ups from this website. Allow the pop-ups and double-click the form again. For the best user experience on this website, you should update your browser (<strong><a href=\"http:\/\/windows.microsoft.com\/en-us\/internet-explorer\/download-ie\">Internet Explorer<\/a><\/strong>,<span>\u00a0<\/span><strong><a href=\"https:\/\/www.google.com\/intl\/en\/chrome\/browser\/\">Chrome<\/a><\/strong>,<span>\u00a0<\/span><strong><a href=\"http:\/\/www.mozilla.org\/en-US\/firefox\/new\/\">Firefox<\/a><\/strong><span>\u00a0<\/span>or<span>\u00a0<\/span><strong><a href=\"http:\/\/www.apple.com\/safari\/\">Safari<\/a><\/strong>)<\/em><\/p>\n<p>[\/et_pb_text][et_pb_code _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<div class=\"rf-table\" data-public=\"1\" data-account-guid=\"34821a9573ca43e7b06dfad20f5183fd\" data-folder-id=\"f50a17dc-b176-4d70-9089-d33ca4bdca3c\" data-widget-id=\"cc78133d-9f72-417a-a180-28df5179f268\"><\/div>\n<p>[\/et_pb_code][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Mexico offers business-related tax credits to corporations and individuals who meet the requirements set out in the statutes for each credit. The statutes creating the credits also designate the taxes against which the credit may be applied.\u00a0Credits may apply to the Combined Report System (CRS) gross receipts, compensating and withholding taxes and to annual [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-1737","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tax Credits : Individuals<\/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\/individuals\/tax-credits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax Credits : Individuals\" \/>\n<meta property=\"og:description\" content=\"New Mexico offers business-related tax credits to corporations and individuals who meet the requirements set out in the statutes for each credit. 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