NM Rural Job Tax Credit
Offers New Mexico employers in rural areas per-hire credits based on early wages for newly created qualifying roles.
The New Mexico Rural Job Tax Credit (NMSA 1978 §7-2E-1.1) is a transferable per-hire income tax credit administered by the New Mexico Taxation and Revenue Department (TRD), designed to stimulate job creation in low-population-density areas of the state. The credit is tiered by geography: Tier 1 areas, defined as those with the lowest population density, earn 25% of the first $16,000 in wages paid …
Provides New Mexico employers a per-hire income tax credit of 25% or 12.5% of the first $16,000 in wages for qualifying jobs created in low-population rural areas.
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