High Wage Jobs Tax Credit (New Mexico)
Last modified on February 12, 2015.
|Applies to States or Provinces||New Mexico|
|Name||High Wage Jobs Tax Credit (New Mexico)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy|
|Program Administrator||New Mexico Economic Development Department|
|Information Source||http://www.tax.newmexico.gov/SiteCollectionDocuments/rpd-41288.pdf, http://www.tax.newmexico.gov/SiteCollectionDocuments/rpd-41290.pdf|
A taxpayer who is an eligible employer may apply for and receive a tax credit for each new high-wage economic-based job. The credit amount equals 10% of the wages and benefits paid for each new economic-base job created. Qualified jobs criteria include minimum salary requirements. To qualify, employers must make more than 50% of their sales to persons outside of New Mexico. Qualified employees must reside in New Mexico and cannot own more than 50% of the company or be a relative of the employer.
|Department||Taxation and Revenue Department|
|Division||Tax Compliance Bureau|
|Address||P.O. Box 8575, Albuquerque, NM, 87198-8575|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||High Wage Jobs Tax Credit Claim|