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NM Rural Job Tax Credit

NM Rural Job Tax Credit

Offers New Mexico employers in rural areas per-hire credits based on early wages for newly created qualifying roles.

OpenNew Mexico Taxation and Revenue DepartmentUnited StatesEligible in New Mexico
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About

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 …

What this grant funds

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.

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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Application process

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