Incentives Directory

Manufacturers of advanced energy vehicles, fuel cell systems, renewable energy systems or any component of an advanced energy vehicle, fuel cell system or renewable energy system or components for
Advanced energy facilities, such as solar thermal electric, advanced technology coal, or recycled energy, may qualify for up to $60 million in credits. The credit is equal to 6%
Gross receipts tax deductions are available for selling to agribusinesses: Feed for livestock, including the baling wire or twine used to contain the feed, fish raised for
Receipts from maintaining, refurbishing, remodeling or otherwise modifying a commercial or military carrier (aircraft) over 10,000 pounds gross landing weight may be deducted from gross receipts.  
Receipts of an aircraft manufacturer or affiliate from selling aircraft or aircraft parts, or from selling services performed on aircraft or aircraft components or from selling aircraft flight support,
A taxpayer who files a New Mexico income tax return and who is a “qualified investor” may take a tax credit of up to $25,000 (25% of a qualified
Microbreweries producing less than 5,000 barrels of beer annually and small wineries producing less than 560,000 liters of wine per year qualify for a preferential tax rate. The
Provides a tax credit on blended biodiesel fuels (a minimum of 2% biodiesel). Gross receipts and compensating tax may be deducted for installing biodiesel blending infrastructure up to $50,000
The value of equipment such as a boiler, turbine-generator, storage facility, feedstock processor, interconnection transformer or biomass material used for bio-power, bio-fuels, or bio-based products may be deducted in
This law exempts from the trip tax the use of New Mexico highways by commercial motor carrier vehicles while operating exclusively within 10 miles of a border with Mexico
Receipts from fees received for performing management or investment advisory services for a related mutual fund, hedge fund or real estate investment trust may be deducted from gross receipts.
Services that are exported from the state are not subject to New Mexico gross receipts tax. These services must be produced by a business with a New Mexico office,
A taxpayer who is an eligible employer may apply for and receive a tax credit for each new high-wage economic-base job. The credit amount equals 10% of the wages
(Investment Credit Act) Manufacturers may take a credit against gross receipts, compensating or withholding taxes equal to 5.125% of the value of qualified equipment imported and put into
New Mexico has one of the most generous training incentive programs in the country. The job Training Incentive Program (JTIP) funds classroom and on-the-job training for newly-created jobs in
Receipts from the sale of fuel to a common carrier to be loaded or used in a locomotive engine are exempted from the gross receipts and compensating taxes. “Locomotive
A qualified R&D small business is eligible for a credit equal to the sum of all gross receipts taxes, compensating taxes or withholding taxes due to the state for
Each qualified energy generator may earn an income tax credit of 1 cent ($.01) per kilowatt-hour for the first 400,000 megawatt-hours ( equivalent to 400,000,000 kilowatts) of electricity produced
This credit can be applied to taxes due on (state) gross receipts, corporate income, or personal income tax. Rural New Mexico is defined as any part of the state
A taxpayer whose primary business is providing software development services and who had no business location in New Mexico other than in a qualified area during the period for
There are four separate deductions connected with the operation of a spaceport in New Mexico. The four deductions are: Receipts from launching, operating or recovering space vehicles
This credit has two parts: a basic credit and an additional credit, each equal to 4% of the qualified expenditures on qualified research at a qualified facility. The credit
Non-resident employees may allocate their compensation to their home state. Since Texas does not have a personal income tax, Texas residents working at the New Mexico enterprise will not
New Mexico provides a gross receipts tax deduction for receipts from selling wind turbines, nacelles, rotors, blades and related equipment to a state or federal government entity.