Advanced Energy Product Manufacturer’s Tax Credit
Category: State Incentives, Tax Incentives
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 integrated gasification combined cycle coal facilities and equipment related to the sequestration of carbon from integrated gasification combined cycle plants, may qualify for a tax credit of 5% of the taxpayer’s qualified expenditures and may be deducted from the taxpayer’s modified combined tax liability. Unused portions of the credit may be carried forward for five years.
New Mexico Economic Development Department