New Mexico Administrative Code

Section 9-11-6.2 NMSA 1978.

Permanent.

March 23, 2021, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Corporate Income and Franchise Tax Act.

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630

A. No qualified business facility rehabilitation credit allowed for cultural or historic properties. No qualified business facility rehabilitation credit will be allowed for any qualified business facility that is also: (1) a building listed on the official New Mexico register of…

With respect to taxable years beginning on or after January 1, 2020, when any corporation properly files as part of a worldwide, water's edge or consolidated return, if that corporation has qualified for and continues to hold an unused amount of New Mexico tax credit that it coul…

This part applies to every domestic corporation and to every foreign corporation employed or engaged in the transaction of business in, into or from New Mexico or deriving any income from any property or employment in New Mexico.

Section 9-11-6.2 NMSA 1978.

Permanent.

1/15/97, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Corporate Income and Franchise Tax Act.

[Reserved]

A. Cultural property credit defined. The preservation of cultural property credit is a credit against a taxpayer's New Mexico corporate income tax due for amounts expended in the restoration, rehabilitation and preservation of cultural property owned by the taxpayer and listed on…

A. Dependent defined. Dependent for purposes of Section 7-2A-14 NMSA 1978 is a child under the age of twelve years who is a dependent as defined in Section 152 of the Internal Revenue Code, as amended or renumbered, and also includes a child of divorced or legally separated paren…

Energy, Minerals and Natural Resources Department.

A. In order to obtain the sustainable building tax credit, a taxpayer shall apply for a certificate of eligibility with the division on a division-developed form. An applicant may obtain an application form from the division. B. An application package shall include a completed ap…

A. The department considers applications in the order received, according to the day they are received, but not the time of day. B. The department approves or disapproves an application package following the receipt of the complete application package. The department disapproves …

A. The division calculates the sustainable building tax credit based on the qualified occupied square footage of the sustainable residential building, the rating system under which the applicant achieved certification and the certification level the applicant achieved. The tax cr…

A. To claim the sustainable building tax credit, an applicant shall submit all certificates of eligibility to the taxation and revenue department within 30 days of the department's issuance, along with a completed form provided by the taxation and revenue department, and any othe…

3.4.16 NMAC applies to the application and certification procedures for administration of the sustainable building tax credit for sustainable residential buildings.

3.4.16 NMAC is established under the authority of NMSA 1978, Section 7-2A-21 and NMSA 1978, Section 9-1-5.

Permanent.

October 31, 2007, unless a later date is cited at the end of a section.

3.4.16 NMAC's objective is to establish procedures for administering the program to issue a certificate of eligibility for the sustainable building tax credit for sustainable residential buildings.

A. "Annual cap" means the annual total amount of the sustainable building tax credit available to taxpayers owning sustainable residential buildings. B. "Applicant" means a taxpayer that owns a sustainable residential building in New Mexico and who desires to have the department …

A. A person is the owner of a building in New Mexico that has been constructed, renovated or manufactured to be a sustainable residential building and that receives certification on or after January 1, 2007 may receive a certificate of eligibility for a sustainable building tax c…

A. The division reviews the qualifications for verifiers of the build green New Mexico or LEED-H certifications based on the following criteria: (1) the verifier is independent from the homebuilders or homeowners that may apply for certification; (2) the verifier has adequate sta…

Energy, Minerals and Natural Resources Department.

A. In order to receive a certificate of eligibility for the tax credit, the applicant must submit an application for the sustainable building tax credit after the building is completed, the applicant has fulfilled all other requirements and the total annual cap for the sustainabl…

A. The department considers applications in the order received, according to the day they are received, but not the time of day. B. The department approves or disapproves an application package following the receipt of the complete application package. C. The division reviews the…

A. In the event the sustainable commercial building is a building type that is not available in target finder and the applicant uses an alternative method for the energy reduction requirement, the division reviews the submitted documentation. The following information shall be in…

A. The division calculates the maximum sustainable building tax credit for the non-multi-family commercial buildings based on the qualified occupied square footage of the sustainable commercial building, the LEED rating system under which the applicant achieved LEED certification…

A. To claim the sustainable building tax credit for a given year, an applicant shall submit all certificates of eligibility to the taxation and revenue department prior to the end of that taxable year, along with a completed form provided by the taxation and revenue department, a…

3.4.17 NMAC applies to the application and certification procedures for administration of the sustainable building tax credit for sustainable commercial buildings.

3.4.17 NMAC is established under the authority of NMSA 1978, Section 7-2A-21 and NMSA 1978, Section 9-1-5.

Permanent.

January 1, 2014, unless a later date is cited at the end of a section.

3.4.17 NMAC's objective is to establish procedures for administering the program to issue a certificate of eligibility for the sustainable building tax credit for sustainable commercial buildings.

A. "Annual cap" means the annual aggregate amount of the sustainable building tax credit available to taxpayers owning sustainable commercial buildings. B. "Applicant" means a taxpayer that owns a sustainable commercial building in New Mexico and who desires to have the departmen…

A. A person who is the owner of a building in New Mexico that has been constructed or renovated to be a sustainable commercial building and that receives certification on or after January 1, 2007 may receive a certificate of eligibility for a sustainable building tax credit. B. T…

A. The division reviews the qualification for verifiers of the build green New Mexico or LEED-H certifications based on the following criteria: (1) the verifier is independent from the homebuilders or homeowners that may apply for certification; (2) the verifier has adequate staf…

Energy, Minerals and Natural Resources Department.

A. The department shall consider applications in the order received, according to the day they are received, but not the time of day. If the department approves applications received on the same day and the applications would exceed the annual cap, then the department will divide…

A. Geothermal ground-coupled heat pump systems that the department may certify shall meet the following minimum requirements: (1) compliance with the latest adopted version of all applicable federal, state and local government statutes or ordinances, rules or regulations and code…

A. Geothermal ground-coupled heat pump systems that the department may certify shall meet the following requirements: (1) be made of new equipment, components and materials; (2) have a written minimum two year warranty provided by the contractor on parts, equipment and labor with…

A. The cost of a geothermal ground-coupled heat pump system the department certifies shall be the cost of acquiring the system but shall not include the following: (1) expenses, including but not limited to: (a) unpaid labor or the applicant's labor; (b) unpaid equipment or mater…