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Advanced Energy Tax Credit (Corporate) (New Mexico)
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/Amt 6% credit against personal, corporate, gross receipts, compensating, or withholding taxes  +
Incentive/ApplDsc Commercial  +
Incentive/Auth2Code N.M. Stat. § 62-6-28  +
Incentive/Auth2DtEff 2007-07-01  +
Incentive/Auth2DtEnact 2007-04-03  +
Incentive/Auth2Link http://www.nmonesource.com/nmnxtadmin/NMPublic.aspx  +
Incentive/Auth3Code N.M. Stat. § 7-2A-25  +
Incentive/Auth3DtEff 2009-07-01  +
Incentive/Auth3DtEnact 2009-03-09  +
Incentive/Auth3Link http://www.nmonesource.com/nmnxtadmin/NMPublic.aspx  +
Incentive/AuthCode N.M. Stat. § 7-9G-2  +
Incentive/AuthDtEff 2007-07-01  +
Incentive/AuthDtEnact 2007-04-03  +
Incentive/AuthLink http://www.nmonesource.com/nmnxtadmin/NMPublic.aspx  +
Incentive/CarOvProv 10 years  +
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/EligSysSize Solar and Geothermal: 1 Megawatt minimum<br /> Recycled Energy: 15 Megawatt maximum  +
Incentive/EnergyCat Renewable Energy Incentive Programs  +
Incentive/ImplSector State/Territory  +
Incentive/MaxInc 60 million  +
Incentive/Name Advanced Energy Tax Credit (Corporate)  +
Incentive/ProgAdmin Taxation and Revenue Department  +
Incentive/StartDate July 1, 2009  +
Incentive/StartDateString 2009-07-01  +
Incentive/Summary A taxpayer that holds an interest in a qua
A taxpayer that holds an interest in a qualified generating facility located in New Mexico and that files a New Mexico corporate income tax return may claim an advanced energy corporate income tax credit in an amount equal to 6% of the eligible generation plant costs of a qualified generating facilities (see § 7-2A-25). “Eligible generation plant costs" means expenditures for the development and construction of a qualified generating facility, including costs related to permitting, site characterization and assessment, engineering, design, and site and equipment acquisition. '''Eligible Technologies''' "Qualified generating facility" means a facility that begins construction not later than December 31, 2015, and includes, among other technologies: * a solar thermal electric generating facility that begins construction on or after July 1, 2007 and that may include an associated renewable energy storage facility; * a solar photovoltaic electric generating facility that begins construction on or after July 1, 2009 and that may include an associated renewable energy storage facility; * a geothermal electric generating facility that begins construction on or after July 1, 2009; and * a recycled energy project if that facility begins construction on or after July 1, 2007. '''Combined Reporting''' Any balance of the advanced energy corporate income tax credit that the taxpayer is approved to claim may be claimed by the taxpayer as an “advanced energy combined reporting tax credit” (see § 7-9G-2). A taxpayer granted approval to claim an advanced energy combined reporting tax credit may claim an amount of available credit against the taxpayer's gross receipts tax, compensating tax or withholding tax due to the state. '''Carryover''' Any unused credit may be carried forward for up to 10 years. '''Process''' The aggregate amount of all advanced energy tax credits that may be claimed with respect to a qualified generating facility cannot exceed $60,000,000. In order to claim the tax credit, developers must obtain a certificate of eligibility from the New Mexico Environment Department and submit the certificate to the New Mexico Taxation and Revenue Department. Click [http://www.tax.newmexico.gov/Tax-Professionals/tax-credits-overview.aspx here] for more information, including forms to apply for the tax credit.
cluding forms to apply for the tax credit.  +
Incentive/TechDsc Solar Thermal Electric + , Photovoltaics + , Geothermal Electric + , Energy Storage +
Incentive/Type Corporate Tax Credit +
OpenEI/PageDescription Advanced Energy Tax Credit (Corporate): energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , New Mexico  + , Corporate Tax Credit  + , Taxation and Revenue Department  +
Place New Mexico: Energy Resources +
Website http://www.tax.newmexico.gov/Tax-Professionals/tax-credits-overview.aspx  +
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.
17:40:33, 12 February 2015  +
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