New Mexico technology jobs and research credit

Tax credit

Official program guidance

Agency: New Mexico Taxation and Revenue Department. Agency source

This directory is not tax advice. Confirm eligibility, tax-year rules, deadlines and filing requirements with a tax professional.

Check program requirements [New Mexico technology jobs and research application]

Who qualifies
Taxpayers conducting qualified research at eligible New Mexico facilities. An additional credit requires payroll growth of $75,000 per $1 million in qualifying expenditures. [New Mexico technology jobs and research application]
What it’s worth
Basic credit of 5% of qualified expenditures, or 10% in a qualifying rural area; an additional 5% or 10% may apply when the payroll test is met. [New Mexico technology jobs and research application]
How to claim
Apply for approval with Form RPD-41385 and expense and payroll documentation. Confirm the current claim form after approval. [New Mexico technology jobs and research application]
Deadlines and application windows
Basic-credit application: within one year after the expense reporting period ends. Additional-credit application: within one year after the expense tax year ends. [New Mexico technology jobs and research application]

Amounts are subject to the conditions in each listing. A source review does not mean applications are open or that a business qualifies.

Official sources

Listing reviewed