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Agricultural Biomass Income Tax Credit (Corporate) (New Mexico)
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/Amt 5 per wet ton  +
Incentive/ApplDsc Agricultural  +
Incentive/AuthCode N.M. Stat. § 7-2A-26  +
Incentive/AuthDtEff 2011-01-01  +
Incentive/AuthDtEnact 2010-03-08  +
Incentive/AuthExpireDt 2019-12-31  +
Incentive/AuthLink  +
Incentive/CarOvProv Unused credit may be carried forward for up to 4 years.  +
Incentive/Cont2Addr 1100 South St. Francis Drive  +
Incentive/Cont2Dept Information Specialist  +
Incentive/Cont2Div New Mexico Taxation and Revenue Department  +
Incentive/Cont2Name Information Specialist  +
Incentive/Cont2Phone (505) 827-0700  +
Incentive/Cont2Place Santa Fe, New Mexico  +
Incentive/Cont2Website  +
Incentive/Cont2Zip 87504  +
Incentive/ContAddr 1220 S. St. Francis Drive  +
Incentive/ContDept New Mexico Energy, Minerals and Natural Resources Department  +
Incentive/ContDiv Energy Conservation and Management Division  +
Incentive/ContEmail  +
Incentive/ContFax (505) 476-3322  +
Incentive/ContName Colin Messer  +
Incentive/ContPhone (505) 476-3314  +
Incentive/ContPlace Santa Fe, New Mexico  +
Incentive/ContWebsite  +
Incentive/ContZip 87505  +
Incentive/EnergyCat Renewable Energy Incentive Programs  +
Incentive/ImplSector State/Territory  +
Incentive/InActDt December 31, 2019  +
Incentive/MaxInc Statewide annual limit of 5 million in total credits  +
Incentive/Name Agricultural Biomass Income Tax Credit (Corporate)  +
Incentive/ProgAdmin Taxation and Revenue Department  +
Incentive/ProgBudget $5 million per year  +
Incentive/StartDate January 1, 2011  +
Incentive/StartDateString 2011-01-01  +
Incentive/Summary [
[ 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.
t for a maximum of four consecutive years.  +
Incentive/TechDsc Biomass +
Incentive/Type Corporate Tax Credit +
OpenEI/PageDescription Agricultural Biomass Income 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  +
Categories Financial Incentive Programs , 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.
17:44:28, 12 February 2015  +
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