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NM Manufacturing Investment Tax Credit

NM Manufacturing Investment Tax Credit

Offers New Mexico manufacturers a tax credit on qualifying imported equipment tied to job and payroll expansion.

OpenNew Mexico Taxation and Revenue DepartmentUnited StatesEligible in New Mexico
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About

The New Mexico Manufacturing Investment Tax Credit, formally known as the Investment Credit under the Investment Credit Act (NMSA 1978 §§7-9A-1 through 7-9A-11), is a non-refundable state tax credit administered by the New Mexico Taxation and Revenue Department (TRD) Business Credit Audit Team. The program reduces the effective cost of capital equipment for New Mexico manufacturers by crediting 5.…

What this grant funds

Credits New Mexico manufacturers 5.125% of qualified equipment imported into the state, offsetting gross receipts, compensating, or withholding tax when additional workers are hired.

Key facts
CycleiHow often this grant runs — e.g. annually, on a rolling basis, or a one-off call.Rolling
Next deadlineiThe next date applications are due. Rolling means you can apply any time.Rolling
Decision timeiTypical time from the deadline to the funder's decision.—
Project durationiHow long the funded work is expected to run.—
Award typeiThe form of funding — grant, equity, loan, tax credit, etc.Tax credit
Match fundingiThe share of project costs you must cover yourself. 0% = fully funded.0%
Funding pooliThe total budget available across all awards in this round.—
Funding analytics

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Industries

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Eligibility criteria

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Last verified: 22 Jul 2026Source: www.tax.newmexico.gov