Incentives Directory

Advanced Energy Product Manufacturer’s Tax Credit
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

Category: State Incentives, Tax Incentives

Advanced Energy Tax Credits
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%

Category: State Incentives, Tax Incentives

Agricultural Business Tax Deductions and Exemptions
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

Category: State Incentives, Tax Incentives

Aircraft Maintenance or Remodeling Tax Deduction
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.  

Category: State Incentives, Tax Incentives

Aircraft Manufacturing Tax Deduction
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,

Category: State Incentives, Tax Incentives

Angel Investment Credit
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

Category: State Incentives, Tax Incentives

Beer and Wine Producers Preferential Tax Rate
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

Category: State Incentives, Tax Incentives

Bio-Fuels Production and Sales Tax Incentive
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

Category: State Incentives, Tax Incentives

Biomass-Related Equipment Compensating Tax Deduction
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

Category: State Incentives, Tax Incentives

Fee-Free Zones Near the Mexican Border
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

Category: State Incentives, Tax Incentives

Financial Management Tax Credit
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.

Category: State Incentives, Tax Incentives

Gross Receipts Tax Deduction for Services Sold Out-of-State
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,

Category: State Incentives, Tax Incentives

High Wage Jobs Tax Credit
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

Category: State Incentives, Tax Incentives

Investment Tax Credit for Manufacturers
(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

Category: State Incentives, Tax Incentives

Job Training Incentive Program
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

Category: State Incentives, Training

Locomotive Fuel Gross Receipts & Compensating Tax Exemption
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

Category: State Incentives, Tax Incentives

R&D Small Business Tax Credit
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

Category: State Incentives, Tax Incentives

Renewable Energy Production Tax Credit
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

Category: State Incentives, Tax Incentives

Rural Jobs Tax Credit
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

Category: State Incentives, Tax Incentives

Rural Software Development Gross Receipts Tax Deduction
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

Category: State Incentives, Tax Incentives

Space Gross Receipts Tax Deductions
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

Category: State Incentives, Tax Incentives

Technology Jobs Tax Credit
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

Category: State Incentives, Tax Incentives

Texas/Mexico Border Residents’ Tax Exemption
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

Category: State Incentives, Tax Incentives

Wind Energy Equipment Gross Receipts Tax Deduction
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.  

Category: State Incentives, Tax Incentives