Listed below are nonrefundable credits that are available on your New Mexico return:
Solar Market Development Tax Credit (not to exceed $9,000)
- Carry Forward for 10 Years: You may carry forward unused credit for a maximum of ten years.
Rural Health Care Practitioners Tax Credit ($5,000 for eligible physicians; $3,000 for eligible dentists) can only be carried forward for three years in succession.
- For More Information: For a copy of location lists and for more information about certification of eligibility, contact DOH at (505) 222-8672 or visit their website at State DOH. The physical address of DOH is 300 San Mateo NE, Suite 900, Albuquerque, NM 87108.
Sustainable Building Tax Credit
A credit is available for the construction in New Mexico of a sustainable building for renovation of an existing building in New Mexico into a sustainable building or for permanent installation of manufactured housing that is a sustainable building, regardless of where the housing is manufactured.
The credit is available for residential and commercial buildings after the construction, installation, or renovation of the sustainable building is complete. To qualify for the tax credit, the building must have achieved a silver or higher certification level in the Leadership in Energy and Environmental Design (LEED) green building rating system or the Build Green NM rating system.
The sustainable building tax credit provisions are not available for qualified construction or renovations made after December 31, 2016. You may not claim the credit for tax years beginning on or after January 1, 2017. A taxpayer with construction or renovations made after January 1, 2017 but ending on or before December 31, 2026, should contact the New Mexico Energy, Minerals and Natural Resources Department (EMNRD) to certify your eligibility to claim the "New Sustainable Building Tax Credit".
Carry Forward for Seven Years
This credit is not refundable, but you can carry the credit forward for seven years from the tax year when the Department approved the credit.
How to Apply for This Credit
To apply for this credit, follow these steps:
- Contact the New Mexico Energy, Minerals and Natural Resources Department (EMNRD) to certify your eligibility.
- After you receive the certificate of eligibility from EMNRD, promptly complete Form RPD-41327, Sustainable Building Tax Credit Approval.
- Submit RPD-41327 and a copy of the certificate of eligibility to the Department.
To enter these credits on your New Mexico return, follow the steps below:
- State Section
- Other Nonrefundable Credits
For additional information pertaining to these Nonrefundable Tax Credits, please see Form PIT-CR.