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  3. Conservation & Preservation Tax Credits

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Conservation & Preservation Tax Credits

New Mexico has a number of conservation and preservation related tax credits that are given for qualifying efforts to preserve or conserve New Mexico’s cultural, agricultural and natural resources.

This page summarizes the tax credits available in this category and gives links to forms. For these tax credits, there are additional qualifiers to the ones listed below. To get more specific information about qualifying and applying for them, please see FYI-106 Claiming Business-Related Tax Credits for Individuals and Businesses.

You may qualify for one of these tax credits if you:

Advanced Energy – hold an interest in a qualified power-generating facility. download RPD-41334, Advanced Energy Tax Credit Claim Form to see the claim form. Download RPD-41333, Application for Advanced Energy Tax Credit to see the application.

Agricultural Water Conservation – make eligible improvements in irrigation systems or water management methods. Download RPD-41319, Agricultural Water Conservation Tax Credit Claim Form to see the claim form.

Alternative Energy Product Manufacturers – manufacture certain alternative energy products. Download RPD-41330, Application for Alternative Energy Product Manufacturers Tax Credit to see the application. Download RPD-41330, Application for Alternative Energy Product Manufacturers Tax Credit Schedule A to see Schedule A. Download RPD-41331, Alternative Energy Product Manufacturers Tax Credit Claim Form to see the claim form.

Biodiesel Blending Facility – are a rack operator who installs biodiesel blending equipment. Download RPD-41321, Biodiesel Blending Facility Tax Credit Claim Form and Approval to see the claim and approval forms.

Blended Biodiesel Fuel – pay special fuel excise tax on blended biodiesel fuel. Download RPD-41340, Blended Biodiesel Fuel Tax Credit Claim Form to see the claim form.

Cultural Property Preservation – restore, rehabilitate, or preserve properties listed on the New Mexico Register of Cultural Properties. Download PIT-4, Preservation of Cultural Properties Credit *Error to see the form.

Geothermal Heat Pump – purchase and install a geothermal ground-coupled heat pump between January 1, 2010, and December 31, 2020. Download RPD-41346, Geothermal Ground-Coupled Heat Pump Tax Credit Claim Form to see the claim form.

Land Conservation Incentives – donate land to private non-profit or public conservation agencies for conservation purposes. Download form RPD-41335, Application for Land Conservation Incentives Credit Instructions to read instructions. Download RPD-41282 Land Conservation Incentives Tax Credit Claim Form to see the claim form. Download RPD-41335, Application for Land Conservation Incentives Credit to see the application. Download RPD-41336, Notice of Transfer of Land Conservation Incentives Credit to see the application. Download RPD-41347, Application for Designation as a Qualified Intermediary to see the transfer form.

Renewable Energy Production – produce electricity by solar light or heat, wind or biomass. Download RPD-41227, Renewable Energy Production Tax Credit Claim Form to see the claim form.

Solar Market Development – purchase and install a solar thermal or photovoltaic system between January 1, 2006, and December 31, 2016. Download RPD-41317, Solar Market Development Income Tax Credit to see the claim form.

Sustainable Building – invest in constructing or renovating sustainable residential or commercial buildings that meet “green” building standards. Download RPD-41329, Sustainable Building Tax Credit Claim Form to see the claim form. Download RPD-41327, Sustainable Building Tax Credit Approval to see the approval form. Download RPD-41327, Sustainable Building Tax Credit Instructions to see instructions. Download RPD-41342, Notice of Transfer of Sustainable Building Tax Credit to see the credit transfer form.