Solar Energy Gross Receipts Tax Deduction (New Mexico)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place New Mexico

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
Active Incentive Yes

Implementing Sector State/Territory
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







Start Date 2007-07-01


















Program Administrator New Mexico Energy, Minerals and Natural Resources Department
Website http://www.emnrd.state.nm.us/ecmd/CleanEnergyTaxIncentives/SolarGrossReceiptsExemption.html
Date added to DSIRE 2007-05-25
Last DSIRE Review 2014-08-04



References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Summary

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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Incentive Contact

Contact Name Vincent Barrera
Department New Mexico Energy, Minerals and Natural Resources Department
Division Energy Conservation and Management Division




Phone (505) 476-3323


Email Vincent.Barrera@state.nm.us
Website http://www.emnrd.state.nm.us/ecmd/
     
     

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

Authority 1: N.M. Stat. § 7-9-112
Date Effective 2007-07-01
Date Enacted 2007-04-03


Authority 2: NMAC 3.2.247




















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"