New Mexico Tax Incentives

New Mexico has many incentives offered based on business type. Click the link below to view those incentives.

New Mexico Tax Incentives

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 deductibl...
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Category: State Incentives, Energy

While the Carlsbad Airport Industrial Park has significant water, sewer, gas, communications, and electrical utilities, the City of Carlsbad is willing to assist with additional needed infrastructure for certain industria...
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Category: Local Incentives

The City of Carlsbad has some property available for certain industrial projects. This property could also be made available through a job creation-based grant or low rate lease made possibl...
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Category: Local Incentives

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 Ne...
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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 computin...
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Category: State Incentives, Energy

Since 1999, the Carlsbad Department of Development together with the US Department of Commerce’s Economic Development Administration have managed a Revolving Loan Fund Program.  This loan program supplies small businesses an...
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Category: Local 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 fo...
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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, wit...
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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

Administered by NM Taxation & Revenue Department 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 amoun...
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Category: State Incentives, General

Eddy County and the City of Carlsbad can both issue Industrial Revenue Bonds (IRB) for the expansion and relocation of commercial and industrial projects.  Significant property tax and compensating ta...
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Category: Local Incentives

Consumables Gross Receipts Tax Deduction for Manufacturers In the 2012 legislative session the New Mexico Legislature passed, and Governor Martinez signed into law, an expansion to the deduction for the sal...
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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

The New Mexico Economic Development Department (EDD) is granted authority to administer Local Economic Development Act capital outlay (LEDA CO) funds to local governments (county, municipality, or tribal entity) t...
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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 an...
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Category: State Incentives

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 expandin...
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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 electricit...
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Category: State Incentives, Energy

Administered by NM Taxation & Revenue Department This credit can be applied to taxes due on (state) gross receipts, corporate income, or personal income tax. Rural New Mexico is defined a...
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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 it...
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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 u...
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Category: State Incentives, General

Administered by NM Taxation & Revenue Department A taxpayer that employs no more than 50 employees, has qualified expenditures of no more than $5 million, and who conducts qualified research an...
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Category: Manufacturing and Technology, State Incentives