State Incentives

New Mexico offers a variety of state incentives that are designed to promote economic growth. Existing, new, and relocating businesses can benefit from utilizing these programs to fund things like workforce training or to receive assistance expanding manufacturing capabilities.

To view some of the programs available through New Mexico Economic Development, click here. Below are some of the programs that we have found to be very beneficial to Carlsbad businesses.

 

Incentives
Receipts from selling or leasing tangible personal property or services that are eligible generation plant costs to a person that holds an interest in a qualified generating facility are deductible...
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Category: State Incentives, Energy

Manufacturers of certain alternative energy products may receive a tax credit not to exceed five percent (5%) of qualified expenditures for purchase of manufacturing equipment used in the manufacturing operation....
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Category: State Incentives, Energy

An operator of a refinery in New Mexico, any person who blends special fuel in New Mexico, or the owner of special fuel stored at a pipeline terminal in New...
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Category: State Incentives, Energy

The value of equipment such as a boiler, turbine-generator, storage facility, feed-stock processor, interconnection transformer or biomass material used for bio-power, bio-fuels, or bio-based products may be deducted in computing...
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Category: State Incentives, Energy

Corporations providing or paying for licensed child care services for employees’ children under 12 years of age may deduct 30% of eligible expenses from their corporate income tax liability for...
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Category: General, State Incentives

The corporate income tax act is amended to reduce the top corporate tax rate from its present law 7.6% to 5.9% over five years. The reduction begins in 2014, with...
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Category: Manufacturing and Technology, State Incentives

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.
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Category: State Incentives, General

This credit gives companies who hire employees at salaries of $28K or higher in rural areas, and $40K or higher in urban communities, tax credits equal to ten percent of...
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Category: State Incentives, General

Manufacturers may take a tax credit of 5.125 percent of the value of qualified equipment and other property used in their operation. The credit can be applied against compensating, gross...
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Category: Manufacturing and Technology, State Incentives

Learn about the State of New Mexico's program to assist companies gain ISO-9000 certification.
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Category: State Incentives

New Mexico Manufacturing Extension Partnership (New Mexico MEP) is part of a national network which provides technical and business resources to manufacturers who are prepared to expand their capabilities and...
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Category: State Incentives

New Mexico offers some of the most generous job training incentive programs in the country. The Job Training Incentive Program (JTIP) funds classroom and on-the-job training for newly-created jobs in...
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Category: State Incentives

A corporate or personal taxpayer who owns a qualified energy generator is eligible for a tax credit in an amount equal to one cent (.01) per kilowatt hour of electricity...
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Category: State Incentives, Energy

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 other...
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Category: General, State Incentives

New Mexico will provide a phased-in election (over five years), for manufacturers to utilize a single sales factor income apportionment methodology. The present law double weighted sales factor with its...
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Category: State Incentives, General

A qualified small R&D 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 up...
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Category: State Incentives, General

A taxpayer who conducts qualified research and development at a facility in New Mexico is allowed a basic tax credit equal to four percent (4%) of qualified expenditures, and an...
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Category: Manufacturing and Technology, State Incentives