Child Care Corporate Income Tax Credit « Back to Search Results
Child Care Corporate Income Tax Credit

Category: General, State Incentives


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 the taxable year in which the expenses occur. For a company operating a value-added day care center for its employees, this credit reduces the cost to provide this benefit to employees. The corporate income tax credit is 30% of eligible costs up to $30,000 in any taxable year. Unused credit amounts may be carried forward for three years.


Contacts

New Mexico Economic Development