New Mexico Taxation and Revenue Department

Administers New Mexico tax programs, including incentives that support business investment and economic development.

New Mexico Taxation and Revenue Department is New Mexico's state tax authority, not a discretionary grant maker. It administers more than 35 tax programs and distributes revenue to state, local, and tribal governments. As a cabinet-level department, it is the public entry point for statutory tax credits tied to income, corporate, and gross receipts filings.

Its business-credit portfolio includes the Technology Jobs and Research and Development Tax Credit, Film Production Tax Credit, High Wage Jobs Tax Credit, Manufacturing Investment Tax Credit, Rural Job Tax Credit, Sustainable Building Tax Credit, Laboratory Partnership with Small Business Tax Credit, and Angel Investment Tax Credit. Those credits are processed through the Business Credit Audit Team or the Business Credit Manager, with some claims routed through the taxpayer access point. The record places this work in sectors such as biotech, energy, hardware, manufacturing, materials, quantum, built environment, climate, and AI infrastructure.

TRD's operating model is administrative rather than competitive. Companies claim credits under statute, and several routes involve coordination with other state agencies, including the New Mexico Economic Development Department and the Energy, Minerals and Natural Resources Department. That makes the department most relevant to firms with taxable activity in New Mexico, especially research, film, payroll, manufacturing, and construction projects that can satisfy the statutory rules.