NM Technology Jobs and Research & Development Tax Credit
Offers New Mexico technology employers tax credits for research spending and job creation.
The New Mexico Technology Jobs and Research & Development Tax Credit (NMSA 1978 §§7-9F-1 through 7-9F-13) provides New Mexico businesses with a state tax offset of 5% of qualified research expenditures for facilities located in urban areas, or 10% for facilities in rural areas. The credit can be applied against gross-receipts tax, compensating tax, or withholding tax. A second-layer credit — also …
Provides New Mexico businesses a state tax credit of 5–10% of qualified in-state research and development expenditures, with a refundable layer available to small businesses, claimable annually against gross-receipts or income tax.
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