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Advanced Energy Gross Receipts Tax Deduction (New Mexico)
Incentive/Active true  +
Incentive/Amt 100% of gross receipts from sale and installation of an eligible facility  +
Incentive/ApplDsc Commercial  + , Construction  + , Installer/Contractor  + , Retail Supplier  +
Incentive/AuthCode N.M. Stat. § 7-9-114  +
Incentive/AuthDtEff 2010-07-01  +
Incentive/AuthDtEnact 2010-03-08  +
Incentive/AuthLink http://public.nmcompcomm.us/nmpublic/gateway.dll/?f=templates&fn=default.htm  +
Incentive/ContAddr 1100 South St. Francis Drive  +
Incentive/ContDept New Mexico Taxation & Revenue Department  +
Incentive/ContName Information Specialist  +
Incentive/ContPhone (505) 827-0700  +
Incentive/ContPlace Santa Fe, New Mexico  +
Incentive/ContWebsite http://www.tax.newmexico.gov  +
Incentive/ContZip 87504  +
Incentive/EnergyCat Renewable Energy Incentive Programs  +
Incentive/EquipReqs Solar and Geothermal: 1 Megawatt minimum<br /> Recycled Energy: 15 Megawatt maximum  +
Incentive/ImplSector State/Territory  +
Incentive/MaxInc 60 million  +
Incentive/Name Advanced Energy Gross Receipts Tax Deduction  +
Incentive/ProgAdmin Taxation and Revenue Department  +
Incentive/StartDate July 1, 2010  +
Incentive/StartDateString 2010-07-01  +
Incentive/Summary New Mexico has a gross receipts tax struct
New Mexico has a gross receipts tax structure for businesses instead of a sales tax. Businesses are taxed on the gross amount of their business receipts each year before expenses are deducted. Revenue generated by the sale and installation of a "qualified generating facility" may be deducted from gross receipts before the gross receipts tax is calculated. The deductions are allowed for a 10-year period starting the year construction begins. Qualified generating facilities have a minimum nameplate capacity of 1 megawatt (MW) and include geothermal thermal electric, photovoltaic, solar thermal electric, and recycled energy systems.<br> <br> To qualify for the exemption, the owner of a qualified generating facility must first obtain a certificate of eligibility from the Department of Environment. The owner must then present the certificate of eligibility to the Taxation and Revenue Department to obtain a nontaxable transaction certificate. The owner must then give the nontaxable transaction certificate to the seller of the equipment. This credit can be claimed on equipment leased in addition to equipment purchased.
leased in addition to equipment purchased.  +
Incentive/TechDsc Solar Thermal Electric + , Photovoltaics + , Geothermal Electric +
Incentive/Type Sales Tax Incentive +
OpenEI/PageDescription Advanced Energy Gross Receipts Tax Deduction: energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , New Mexico  + , Sales Tax Incentive  + , Taxation and Revenue Department  +
Place New Mexico: Energy Resources +
Categories Financial Incentive Programs , Pages with reference errors , Incentive with Contacts , Incentive with Authorities
Modification date
"Modification date" is a predefined property that corresponds to the date of the last modification of a subject and is provided by Semantic MediaWiki.
17:40:13, 12 February 2015  +
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