Agricultural Biomass Income Tax Credit (Corporate) (New Mexico)

From Open Energy Information


Last modified on February 12, 2015.

Financial Incentive Program

Place New Mexico

Name Agricultural Biomass Income Tax Credit (Corporate)
Incentive Type Corporate Tax Credit
Applicable Sector Agricultural
Eligible Technologies Biomass
Active Incentive Yes
Incentive Inactive Date 2019-12-31
Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount 5 per wet ton
Carryover Provisions Unused credit may be carried forward for up to 4 years.

Start Date 2011-01-01

Maximum Incentive Statewide annual limit of 5 million in total credits

Program Budget $5 million per year

Program Administrator Taxation and Revenue Department

References DSIRE[1]


House Bill 171 of 2010 created a tax credit for agricultural biomass from a dairy or feedlot transported to a facility that uses agricultural biomass to generate electricity or make biocrude or other liquid or gaseous fuel for commercial use. For the purposes of this tax credit, agricultural biomass means wet manure. The Energy, Minerals and Natural Resources Department may adopt additional specifications for agricultural biomass through a rule making process.

The credit is effective for biomass originating between January 1, 2011 and January 1, 2020. The credit is worth $5 per wet ton. Eligible projects must apply to the Taxation and Revenue Department for the credit. The Taxation and Revenue Department is authorized to distribute $5 million in these credits annually and will award a qualification document to eligible projects on a first come, first served basis. The qualification document may be submitted by the taxpayer with that taxpayer's corporate income tax return or may be sold, exchanged or otherwise transferred to another taxpayer. The taxpayers involved in a credit transfer must notify the Taxation and Revenue Department within ten days of the sale, exchange or transfer. If a tax payer cannot claim all the credit they have been awarded for the year, they may carry forward any unused credit for a maximum of four consecutive years.

Incentive Contact

Contact Name Colin Messer
Department New Mexico Energy, Minerals and Natural Resources Department
Division Energy Conservation and Management Division
Address 1220 S. St. Francis Drive
Place Santa Fe, New Mexico
Zip/Postal Code 87505
Phone (505) 476-3314
Fax (505) 476-3322
Contact Name Information Specialist
Department Information Specialist
Division New Mexico Taxation and Revenue Department
Address 1100 South St. Francis Drive
Place Santa Fe, New Mexico
Zip/Postal Code 87504
Phone (505) 827-0700


Authorities (Please contact the if there are any file problems.)

Authority 1: N.M. Stat. § 7-2A-26
Date Effective 2011-01-01
Date Enacted 2010-03-08
Expiration Date 2019-12-31

  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]


  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency (DSIRE)"