New Mexico R&D Tax Credit Summary
R&D Tax Credit Available
Technology Jobs and Research and Development Tax Credit
DOES IT APPLY TO C-CORPS & PASS THROUGHS?
C Corps, S Corps and any entity treated as a Partnership for federal income tax purposes.
Nonrefundable credit with similar definition to federal for Qualified Research Expenses and Qualified Research Activities, except only include New Mexico-based expenses.
5% of expenses or 10% of expenses if conducted in rural area. Additional credit if certain requirements are met.