High Wage Jobs Tax Credit (New Mexico)

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Last modified on February 12, 2015.

EZFeed Policy

Place New Mexico


   
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
Active Policy Yes

Implementing Sector State/Province



























Program Administrator New Mexico Economic Development Department
Primary Website http://www.gonm.biz/Tax_Policy.aspx



Last Review 2014-09-15


Information Source http://www.tax.newmexico.gov/SiteCollectionDocuments/rpd-41288.pdf, http://www.tax.newmexico.gov/SiteCollectionDocuments/rpd-41290.pdf


Summary

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.



Policy Contact

Department Taxation and Revenue Department
Division Tax Compliance Bureau
Address P.O. Box 8575, Albuquerque, NM, 87198-8575



Phone 505-827-0951

Fax 505-827-0950

Website http://www.tax.newmexico.gov/Pages/TRD-Homepage.aspx
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: High Wage Jobs Tax Credit Claim




















References