Personal Income Tax Credits

New Mexico offers personal income tax credits for various situations.

These refundable tax credits have eligibility requirements in addition to the ones listed below.

You may qualify for one or more credits if you were:                                                            

•     A resident of New Mexico during the tax year;
•     Physically present in New Mexico for at least six months during the tax year;
•     Not eligible to be claimed as a dependent of another taxpayer for the tax year, and
•     Not an inmate of a public institution for more than six months of the tax year.

Angel Investment Tax Credit  – for making a qualifying investment in a high-technology or manufacturing business. Download RPD-41320, Angel Investment Credit Claim Form to see the claim form and Schedule A; or

Rural Health Care Practitioner Tax Credit – for providing health care services in a rural health care underserved area. Download RPD-41326, Rural Health Care Practitioner Tax Credit Claim Form to see the claim form. Also, you may be eligible to claim a:

refundable medical care credit if you are 65 or older;

• approved film production tax credit;
• working families tax credit;
• special needs adopted child tax credit; or
• renewable energy production tax credit.

For more information, download form PIT-RC, Rebate and Credit Schedule to see the form. Download PIT-RC, Instructions to see a rebate and credit schedule. Additional links will be either on the forms page, or in the instructions to the forms.