New Mexico Administrative Code
Title 3 - TAXATION
Chapter 3 - PERSONAL INCOME TAXES
Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT
Section 3.3.14.15 - CALCULATING THE STATE TAX CREDIT OR SUPPLEMENTAL STATE TAX CREDIT
Universal Citation: 3 NM Admin Code 3.3.14.15
Current through Register Vol. 35, No. 18, September 24, 2024
A. A state tax credit or supplemental state tax credit to an applicant for a solar energy system the department has certified shall not exceed:
(1) up to ten percent of the purchase and
installation costs of a solar thermal or photovoltaic system as provided in
3.3.14.14 NMAC; and
(2) six thousand dollars ($6,000) per
taxpayer per taxable year.
B. The taxation and revenue department shall make the final determination of the amount of a state tax credit.
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