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Advanced Energy Tax Credit (Personal) (New Mexico)
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/Amt 6%  +
Incentive/ApplDsc Commercial  +
Incentive/AuthCode N.M. Stat. § 7-2-18.25  +
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 (Personal)  +
Incentive/ProgAdmin Taxation and Revenue Department  +
Incentive/Summary A taxpayer who holds an interest in a qual
A taxpayer who holds an interest in a qualified generating facility located in New Mexico and who files an individual New Mexico income tax return may claim an advanced energy income tax credit in an amount equal to 6% of the eligible generation plant costs of a qualified generating facility. “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. '''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, an entity that holds an interest in a qualified generating facility may request a certificate of eligibility from the New Mexico Environment Department (NMED). To claim the advanced energy income tax credit, a taxpayer must submit with the taxpayer's New Mexico income tax return a certificate of eligibility from the NMED stating that the taxpayer may be eligible for advanced energy tax credits. 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 Personal Tax Credit +
OpenEI/PageDescription Advanced Energy Tax Credit (Personal): energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , New Mexico  + , Personal Tax Credit  + , 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.
09:50:58, 17 December 2014  +
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