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Alternative Energy Product Manufacturers Tax Credit (New Mexico)
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/Amt Determined by New Mexico Department of Taxation and Revenue  +
Incentive/ApplDsc Commercial  + , Industrial  +
Incentive/AuthCode N.M. Stat. § 7-9J-1 et seq.  +
Incentive/AuthDtEff 2006-07-01  +
Incentive/AuthDtEnact 4/3/2007, subsequently amended  +
Incentive/AuthLink http://public.nmcompcomm.us/NMPublic/gateway.dll/?f=templates&fn=default.htm  +
Incentive/ContAddr 1190 St. Francis Drive  +
Incentive/ContAddr2 Rm. N2150  +
Incentive/ContDept New Mexico Energy, Minerals and Natural Resources Department  +
Incentive/ContDiv Energy Conservation and Management Division  +
Incentive/ContEmail sandra.ely@state.nm.us  +
Incentive/ContName Sandra Ely  +
Incentive/ContPhone (505) 827-0351  +
Incentive/ContPlace Santa Fe, New Mexico  +
Incentive/ContWebsite http://www.emnrd.state.nm.us/ecmd/  +
Incentive/ContZip 87505  +
Incentive/EnergyCat Renewable Energy Incentive Programs  +
Incentive/ImplSector State/Territory  +
Incentive/MaxInc 5% of taxpayer's qualified expenditures  +
Incentive/Name Alternative Energy Product Manufacturers Tax Credit  +
Incentive/ProgAdmin New Mexico Energy, Minerals and Natural Resources Department  +
Incentive/StartDate July 1, 2006  +
Incentive/StartDateString 2006-07-01  +
Incentive/Summary The Alternative Energy Product Manufacture
The Alternative Energy Product Manufacturers tax credit may be claimed for manufacturing alternative energy products and components, including renewable energy systems, fuel cell systems, and electric and hybrid-electric vehicles. Alternative energy components include parts, assembly of parts, materials, ingredients, or supplies that are incorporated directly into end-use products. In 2011 S.B. 233 added "products extracted from or secreted by a single cell photosynthetic organism" to the list of eligible alternative energy products.<br> <br> The total amount of the credit is approved by the Taxation and Revenue Department and is not to exceed 5% of the taxpayer’s qualified expenditures. A qualified expenditure is the purchase of manufacturing equipment made after July 1, 2006. To be eligible to claim a credit, the taxpayer must employ at least one new full-time employee for every $500,000 of expenditures up to $30,000,000, and at least one new full-time employee for every $1,000,000 of expenditures over $30,000,000. <br> <br> The alternative energy product manufacturers tax credit may only be deducted from the taxpayer's modified combined tax liability, which is the total liability for the reporting period for the gross receipts, compensating tax, and withholding tax. Any portion of the alternative energy product manufacturers tax credit that remains unused at the end of the taxpayer's reporting period may be carried forward for 5 years.
period may be carried forward for 5 years.  +
Incentive/TechDsc Solar Thermal Electric + , Photovoltaics + , Landfill Gas + , Wind + , Biomass + , Geothermal Electric + , Fuel Cells + , Municipal Solid Waste + , Anaerobic Digestion + , Fuel Cells using Renewable Fuels + , Energy Storage +
Incentive/Terms 5-year tax credit carryover  +
Incentive/Type Industry Recruitment/Support +
OpenEI/PageDescription Alternative Energy Product Manufacturers Tax Credit: energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , New Mexico  + , Industry Recruitment/Support  + , New Mexico Energy  + , Minerals and Natural Resources Department  +
Place New Mexico: Energy Resources +
Website http://www.tax.newmexico.gov/forms-publications.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.
17:52:37, 12 February 2015  +
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