New Mexico Administrative Code
Title 3 - TAXATION
Chapter 13 - BUSINESS TAX CREDITS
Part 7 - ALTERNATIVE ENERGY PRODUCT MANUFACTURERS TAX CREDIT
Section 3.13.7.12 - APPLICATION OF THE CREDIT
Universal Citation: 3 NM Admin Code 3.13.7.12
Current through Register Vol. 35, No. 18, September 24, 2024
A. The credit allowed by Section 7-9J-4 NMSA 1978 may not be applied against any local option gross receipts tax imposed by a county or municipality.
B. The credit may not be applied to a report period prior to the report period that includes the first day on which qualified expenditures were made for equipment included on the application for which the credit was approved by the department.
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