Solar Energy Gross Receipts Tax Deduction (New Mexico)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Solar Energy Gross Receipts Tax Deduction|
|Incentive Type||Sales Tax Incentive|
|Applicable Sector||Commercial, Residential, Construction, Installer/Contractor, Retail Supplier, Solar Distributors|
|Eligible Technologies||Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Photovoltaics|
|Energy Category||Renewable Energy Incentive Programs|
|Amount||100% of gross receipts from sale and installation of solar energy systems, dark-colored water tanks, and non-vented trombe walls|
|Program Administrator||New Mexico Energy, Minerals and Natural Resources Department|
|References||DSIREDatabase of State Incentives for Renewables and Efficiency|
New Mexico has a gross receipts tax structure for businesses instead of a sales tax. Businesses are taxed on the gross amount of their business receipts each year before expenses are deducted. Revenue generated by the sale and installation of solar systems used to provide space heat, hot water, or electricity to the property on which it is installed may be deducted from gross receipts before the gross receipts tax is calculated. Dark-colored water tanks exposed to sunlight, including all equipment necessary for the installation and operation of the water tank as a part of the overall water system of the property, as well as a non-vented trombe wall, including all equipment necessary for the installation and operation of the trombe wall, are also eligible for this tax deduction.
The seller must have a signed copy of Form RPD-41341 to claim the deduction or other evidence acceptable to EMNRD that the service or equipment was purchased for the sole use of the sale and installation of a qualified energy system.
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|Contact Name||Vincent Barrera|
|Department||New Mexico Energy, Minerals and Natural Resources Department|
|Division||Energy Conservation and Management Division|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||N.M. Stat. § 7-9-112|
|Authority 2:||NMAC 3.2.247|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.