General Industry Incentive Tax Credits
New Mexico has a number of general industry incentive tax credits that are available to businesses.
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.
Business Facility Rehabilitation – for restoration, renovation or rehabilitation of a qualified business facility in an enterprise zone. Click CIT‑5, Qualified Business Facility Rehabilitation Credit Claim Form.
Electronic Card-Reading Equipment – for purchase and use equipment that electronically reads identification cards to verify age. Click RPD-41246, Income Tax Credit for Electronic Identification Card Reader to see the Purchase and Use Statement.
High-Wage Jobs – for creating high-wage jobs in New Mexico. Click RPD-41288, Application for High-Wage Jobs Tax Credit to see the application. Click RPD-41376, High Wage Jobs Employee Eligibility Detail Report to see the eligibility certificate. Click RPD-41290, High-Wage Jobs Tax Credit Claim Form to see the claim form.
Intergovernmental Business – engage in growing, processing or manufacturing, and incur taxes by a New Mexico Indian nation, tribe or pueblo on income from new business activity on Indian land. Click RPD-41160, Indian Intergovernmental Tax Credit Information to see the information return form.
Investment – for purchasing equipment introduced into New Mexico for use in a new or expanded manufacturing operation. Click RPD-41167, Application for New Mexico Investment Credit to see the application. Click RPD-41168, Application for New Mexico Investment Credit, Schedule A to see Schedule A. Click RPD-41212, Investment Credit Claim Form to see the claim form.
Research and Development Small Business – for a small research and development businesses from July 1, 2005, through June 30, 2009, and from July 1, 2011, through June 30, 2015. Click RPD-41298, Research and Development Small Business Tax Credit Claim Form to see the claim form.