Combined Heat and Power Partnership
Advanced Energy Gross Receipts Tax Deduction
| Date Last Updated | 11/16/2012 |
| Incentive Type | Tax |
| State/Federal | NM |
| Incentive Administrator/Contact Office | New Mexico Taxation & Revenue Department |
| Incentive Initiation Date | 7/1/2010 |
| Incentive Size and Funding Source | New Mexico has a gross receipts tax structure for businesses instead of a sales tax. Businesses are taxed on the gross amount of their business receipts each year before expenses are deducted. Revenue generated by the sale and installation of a "qualified generating facility" may be deducted from gross receipts before the gross receipts tax is calculated. The deductions are allowed for a 10 year period starting the year construction begins. The maximum incentive is $60 million. |
| Eligible Recipient | The owner of a qualified generating facility and other involved parties including installers, contractors, and retail suppliers. |
| Eligible Fuel | Does Not Specify |
| Eligible Project Size (MW) | >1.0 MW |
| Minimum Efficiency Required (%) | Does Not Specify |
| Other Selected Eligibility Criteria | To qualify for the exemption, the owner of a qualified generating facility must first obtain a certificate of eligibility from the Department of Environment. The owner must then present the certificate of eligibility to the Taxation and Revenue Department to obtain a nontaxable transaction certificate. The owner must then give the nontaxable transaction certificate to the seller of the equipment. House Bill 440 of 2011 amended this credit to allow it to be claimed on equipment leased in addition to equipment purchased. |
| Application Form(s) | Application Form (PDF) (6 pp, 201K) |
| Resource Website(s) |
http://www.dsireusa.org/incentives/ incentive.cfm?Incentive_Code=NM37F&re=1&ee=1  |