reglab/housing_qa huggingface dataset:
NM Stat § 7-9D-7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9D - Capital Equipment Tax Credit (Repealed.)|Section 7-9D-7 - Repealed.

History: Laws 1999, ch. 178, § 7. ANNOTATIONSRepeals. — Laws 1999, ch. 178, § 10 repealed 7-9D-7 NMSA 1978, as enacted by Laws 1999, ch. 178, § 7, relating to claiming the tax credit, effective July 1, 2004. For provisions of former section, see the 2003 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9D-8 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9D - Capital Equipment Tax Credit (Repealed.)|Section 7-9D-8 - Repealed.

History: Laws 1999, ch. 178, § 8. ANNOTATIONSRepeals. — Laws 1999, ch. 178, § 10 repealed 7-9D-8 NMSA 1978, as enacted by Laws 1999, ch. 178, § 8, relating to reporting requirements and liability for repayment of tax credit, effective July 1, 2004. For provisions of former section, see the 2003 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9D-9 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9D - Capital Equipment Tax Credit (Repealed.)|Section 7-9D-9 - Repealed.

History: Laws 1999, ch. 178, § 9. ANNOTATIONSRepeals. — Laws 1999, ch. 178, § 10 repealed 7-9D-9 NMSA 1978, as enacted by Laws 1999, ch. 178, § 9, relating to administration of the Capital Equipment Tax Credit Act, effective July 1, 2004. For provisions of former section, see the 2003 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9E-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9E - Laboratory Partnership with Small Business Tax Credit|Section 7-9E-1 - Short title.

Chapter 7, Article 9E NMSA 1978 may be cited as the "Laboratory Partnership with Small Business Tax Credit Act". History: Laws 2000 (2nd S.S.), ch. 20, § 1; 2007, ch. 172, § 14. ANNOTATIONSThe 2007 amendment, effective July 1, 2007, changed the statutory reference to the act.
NM Stat § 7-9E-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9E - Laboratory Partnership with Small Business Tax Credit|Section 7-9E-2 - Purpose of act.

It is the purpose of the Laboratory Partnership with Small Business Tax Credit Act to bring the technology and expertise of the national laboratories to small businesses in New Mexico to promote economic development in the state, with an emphasis on rural areas. History: Laws 2000 (2nd S.S.), ch. 20, § 2. ANNOTATIONSEffective dates. — Laws 2000 (2nd S.S.), ch. 20 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective on July 3, 2000, 90 days after the adjournment of the legislature.
NM Stat § 7-9E-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9E - Laboratory Partnership with Small Business Tax Credit|Section 7-9E-4 - Administration of act.

The department shall administer the Laboratory Partnership with Small Business Tax Credit Act pursuant to the Tax Administration Act [Chapter 7, Article 1 NMSA 1978]. History: Laws 2000 (2nd S.S.), ch. 20, § 4. ANNOTATIONSEffective dates. — Laws 2000 (2nd S.S.), ch. 20 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective on July 3, 2000, 90 days after the adjournment of the legislature.
NM Stat § 7-9E-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9E - Laboratory Partnership with Small Business Tax Credit|Section 7-9E-5 - Eligibility requirements.

A national laboratory is eligible for a tax credit in an amount equal to qualified expenditures if:A. the small business assistance is rendered to a small business located in New Mexico;B. the small business assistance is completed;C. the small business certifies to the national laboratory that the small business assistance provided is not otherwise available to the small business at a reasonable cost through private industry;D. the national laboratory provides written notice to each small business to which the laboratory or a contractor of the laboratory is providing small business assistance that the small business is entitled to license intangible property developed from the small business assistance or can obtain ownership of tangible or intangible property developed from the small business assistance;E. the national laboratory requires small businesses to which it is providing small business assistance to acknowledge only after the small business assistance is completed that the small business assistance has been rendered; andF. the national laboratory provides forms for small business requests and for completion of small business assistance that are in accordance with the Laboratory Partnership with Small Business Tax Credit Act and other applicable state and federal laws. History: Laws 2000 (2nd S.S.), ch. 20, § 5; 2007, ch. 172, § 16; 2019, ch. 64, § 2. ANNOTATIONSThe 2019 amendment, effective July 1, 2019, required a national laboratory to provide written notice to a small business receiving assistance of the business's entitlement to license intangible property developed from the small business assistance or to obtain ownership of the tangible or intangible property developed from the small business assistance; and in Subsection D, after "small business to which", added "the laboratory or a contractor of the laboratory", after "providing small business assistance", deleted "of the option", after the next occurrence of "small business", deleted "has to obtain ownership of or" and added "is entitled to", after "license", deleted "to tangible or", and after "developed from the small business assistance", added "or can obtain ownership of tangible or intangible property developed from the small business assistance".The 2007 amendment, effective July 1, 2007, added Subsections D through F.
NM Stat § 7-9E-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9E - Laboratory Partnership with Small Business Tax Credit|Section 7-9E-6 - Administration by the national laboratory.

To qualify for tax credits pursuant to the Laboratory Partnership with Small Business Tax Credit Act, a national laboratory shall: A. establish a small business assistance program; B. establish a revolving fund with initial funding from a source other than tax credits. Money from the revolving fund shall be used to pay for qualified expenditures, and the fund shall be replenished with an amount equal to the tax credits taken pursuant to the Laboratory Partnership with Small Business Tax Credit Act; C. consult with the secretary of economic development to seek advice on improvements in the operation of the small business assistance program; and D. establish a methodology to utilize contractors who have demonstrated the capability to provide small business assistance. History: Laws 2000 (2nd S.S.), ch. 20, § 6. ANNOTATIONSEffective dates. — Laws 2000 (2nd S.S.), ch. 20 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective on July 3, 2000, 90 days after the adjournment of the legislature.
NM Stat § 7-9E-7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9E - Laboratory Partnership with Small Business Tax Credit|Section 7-9E-7 - Tax credits; amounts.

A tax credit provided pursuant to the Laboratory Partnership with Small Business Tax Credit Act shall be in an amount equal to the qualified expenditure incurred by the national laboratory to provide small business assistance to a specific small business, not to exceed twenty thousand dollars ($20,000) for each small business for which small business assistance is rendered in a calendar year or forty thousand dollars ($40,000) if the small business assistance was provided to a small business located in a rural area. History: Laws 2000 (2nd S.S.), ch. 20, § 7; 2007, ch. 172, § 17; 2019, ch. 64, § 3. ANNOTATIONSThe 2019 amendment, effective July 1, 2019, increased the maximum tax credit amounts for assisting a small business from ten thousand dollars ($10,000) to twenty thousand dollars ($20,000) for assisting businesses in urban areas and from twenty thousand dollars ($20,000) to forty thousand dollars ($40,000) for assisting businesses in rural areas; and after "not to exceed", deleted "ten thousand dollars ($10,000)" and added "twenty thousand dollars ($20,000), after "for each small business", deleted "located outside of a rural area", after "rendered in a calendar year or", deleted "twenty thousand dollars ($20,000)" and added "forty thousand dollars ($40,000)".The 2007 amendment, effective July 1, 2007, increased the maximum credit from $5,000 to $10,000 for assistance to a specific small business outside a rural area and from $10,000 to $20,000 for assistance to a small business located in a rural area.
NM Stat § 7-9E-8 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9E - Laboratory Partnership with Small Business Tax Credit|Section 7-9E-8 - Claiming the tax credit; limitation.

A. A national laboratory eligible for the tax credit pursuant to the Laboratory Partnership with Small Business Tax Credit Act may claim the amount of each tax credit by crediting that amount against gross receipts taxes otherwise due pursuant to the Gross Receipts and Compensating Tax Act [Chapter 7, Article 9 NMSA 1978]. The tax credit shall be taken on each monthly gross receipts tax return filed by the laboratory against gross receipts taxes due the state and shall not impact any local government tax distribution. In no event shall the tax credits taken by an individual national laboratory exceed two million four hundred thousand dollars ($2,400,000) in a given calendar year.B. Tax credits claimed pursuant to the Laboratory Partnership with Small Business Tax Credit Act by all national laboratories in the aggregate for qualified expenditures for a specific small business not located in a rural area shall not exceed twenty thousand dollars ($20,000).C. Tax credits claimed pursuant to the Laboratory Partnership with Small Business Tax Credit Act by all national laboratories in the aggregate for qualified expenditures for a specific small business located in a rural area shall not exceed forty thousand dollars ($40,000). History: Laws 2000 (2nd S.S.), ch. 20, § 8; 2007, ch. 172, § 18; 2019, ch. 64, § 4. ANNOTATIONSThe 2019 amendment, effective July 1, 2019, increased the maximum tax credit amounts for assisting a small business from ten thousand dollars ($10,000) to twenty thousand dollars ($20,000) for assisting businesses in urban areas and from twenty thousand dollars ($20,000) to forty thousand dollars ($40,000) for assisting businesses in rural areas; in Subsection B, after "shall not exceed", deleted "ten thousand dollars ($10,000)" and added "twenty thousand dollars "($20,000)"; and in Subsection C, after "shall not exceed", deleted "twenty thousand dollars ($20,000)" and added "forty thousand dollars ($40,000)".The 2007 amendment, effective July 1, 2007, increased the maximum credit by an individual national laboratory from $1,800,000 to $2,400,000 in a calendar year and added Subsections B and C.
NM Stat § 7-9E-9 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9E - Laboratory Partnership with Small Business Tax Credit|Section 7-9E-9 - Termination of the revolving fund.

Should the revolving fund established pursuant to Section 6 [7-9E-6 NMSA 1978] of the Laboratory Partnership with Small Business Tax Credit Act cease to be used for the purposes stated in that act, any amounts remaining in the revolving fund, excluding initial funding from nontax credit sources, shall be paid over to the department as additional gross receipts taxes due. Such payment of additional gross receipts taxes due shall be made in the second month following the month a determination is made that the revolving fund ceases to be used for the purposes stated in that act. History: Laws 2000 (2nd S.S.), ch. 20, § 9. ANNOTATIONSEffective dates. — Laws 2000 (2nd S.S.), ch. 20 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective on July 3, 2000, 90 days after the adjournment of the legislature.
NM Stat § 7-9E-10 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9E - Laboratory Partnership with Small Business Tax Credit|Section 7-9E-10 - Coordination between national laboratories.

If more than one national laboratory is eligible for a tax credit pursuant to the Laboratory Partnership with Small Business Tax Credit Act, a national laboratory shall not file a tax credit claim pursuant to the Laboratory Partnership with Small Business Tax Credit Act until: A. coordination is developed between the national laboratories providing small business assistance pursuant to the Laboratory Partnership with Small Business Tax Credit Act that generates a joint small business assistance operational plan and a plan to ensure that the small business assistance provided by a national laboratory suits the small business's needs and challenges; and B. a written copy of each plan formed pursuant to this section is provided to the department. History: Laws 2007, ch. 172, § 19. ANNOTATIONSEffective dates. — Laws 2007, ch. 172, § 30 made Laws 2007, ch. 172, § 19 effective July 1, 2007.
NM Stat § 7-9E-11 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9E - Laboratory Partnership with Small Business Tax Credit|Section 7-9E-11 - Reporting.

A. By October 15 of each year, a national laboratory that has claimed a tax credit pursuant to the Laboratory Partnership with Small Business Tax Credit Act for the previous calendar year shall submit an annual report in writing to the department, the economic development department and an appropriate legislative interim committee. B. If more than one national laboratory claims a tax credit pursuant to the Laboratory Partnership with Small Business Tax Credit Act for the previous calendar year, those laboratories shall jointly submit an annual report to the department, the economic development department and an appropriate legislative interim committee no later than October 15 following the calendar year in which the small business assistance was provided. C. An annual report shall summarize activities related to and the results of the small business assistance programs that were provided by one or more national laboratories and shall include: (1) a summary of the program results and the number of small businesses assisted in each county; (2) a description of the projects involving multiple small businesses; (3) results of surveys of small businesses to which small business assistance is provided; (4) the total amount of the tax credits claimed pursuant to the Laboratory Partnership with Small Business Tax Credit Act for the year on which the report is based; and (5) an economic impact study of jobs created, jobs retained, cost savings and increased sales generated by small businesses for which small business assistance is provided. D. At any time after receipt of an annual report required pursuant to this section from one or more national laboratories eligible for tax credits authorized pursuant to the Laboratory Partnership with Small Business Tax Credit Act, the department or the economic development department may provide written instructions to a national laboratory identifying future improvements in the laboratory's small business assistance program for which it receives that tax credit. History: Laws 2007, ch. 172, § 20. ANNOTATIONSEffective dates. — Laws 2007, ch. 172, § 30 made Laws 2007, ch. 172, § 20 effective July 1, 2007.
NM Stat § 7-9F-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9F - Technology Jobs and Research and Development Tax Credit|Section 7-9F-1 - Short title.

Chapter 7, Article 9F NMSA 1978 may be cited as the "Technology Jobs and Research and Development Tax Credit Act". History: Laws 2000 (2nd S.S.), ch. 22, § 1; 2015 (1st S.S.), ch. 2, § 10. ANNOTATIONSThe 2015 (1st S.S.) amendment, effective January 1, 2016, changed the title of the Technology Jobs Tax Credit Act to the "Technology Jobs and Research and Development Tax Credit Act", and changed the statutory reference from "This act" to "Chapter 7, Article 9F NMSA 1978". Applicability. — Laws 2015 (1st S.S.), ch. 2, § 25 provided that Laws 2015 (1st S.S.), ch. 2, § 10 apply to taxpayers that make a qualified expenditure beginning on or after January 1, 2015. Temporary provisions. — Laws 2015 (1st S.S.), ch. 2, § 22 provided that a taxpayer that becomes eligible for a research and development small business tax credit prior to January 1, 2016 but has not claimed the credit prior to January 1, 2016 may claim the credit in accordance with the provisions of the Research and Development Small Business Tax Credit Act in effect immediately prior to January 1, 2016. The taxation and revenue department shall approve claims submitted but not approved prior to January 1, 2016 if the claim meets the requirements of the Research and Development Small Business Tax Credit Act in effect immediately prior to January 1, 2016. Claiming the research and development small business tax credit pursuant to this section with respect to a reporting period renders the taxpayer ineligible to claim a credit for the same reporting period pursuant to the Technology Jobs and Research and Development Tax Credit Act. Laws 2015 (1st S.S.), ch. 2, § 23 provided that on and after January 1, 2016, references in law to the Technology Jobs Tax Credit Act shall be deemed to be references to the Technology Jobs and Research and Development Tax Credit Act.
NM Stat § 7-9F-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9F - Technology Jobs and Research and Development Tax Credit|Section 7-9F-2 - Purpose of act.

It is the purpose of the Technology Jobs and Research and Development Tax Credit Act to provide a favorable tax climate for technology-based businesses engaging in research, development and experimentation and to promote increased employment and higher wages in those fields in New Mexico. History: Laws 2000 (2nd S.S.), ch. 22, § 2; 2015 (1st S.S.), ch. 2, § 11. ANNOTATIONSThe 2015 (1st S.S.) amendment, effective January 1, 2016, added "and Research and Development" after "Technology Jobs". Applicability. — Laws 2015 (1st S.S.), ch. 2, § 25 provided that Laws 2015 (1st S.S.), ch. 2, § 11 apply to taxpayers that make a qualified expenditure beginning on or after January 1, 2015.
NM Stat § 7-9F-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9F - Technology Jobs and Research and Development Tax Credit|Section 7-9F-4 - Administration of act.

The department shall administer the Technology Jobs and Research and Development Tax Credit Act pursuant to the Tax Administration Act. History: Laws 2000 (2nd S.S.), ch. 22, § 4; 2015 (1st S.S.), ch. 2, § 13. ANNOTATIONSThe 2015 (1st S.S.) amendment, effective January 1, 2016, added "and Research and Development" after "Technology Jobs". Applicability. — Laws 2015 (1st S.S.), ch. 2, § 25 provided that Laws 2015 (1st S.S.), ch. 2, § 13 apply to taxpayers that make a qualified expenditure beginning on or after January 1, 2015.
NM Stat § 7-9F-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9F - Technology Jobs and Research and Development Tax Credit|Section 7-9F-5 - Basic credit; additional credit; amounts; claimant.

A. The basic credit provided for in the Technology Jobs and Research and Development Tax Credit Act is an amount equal to five percent of the amount of qualified expenditures made by a taxpayer conducting qualified research at a qualified facility. B. The additional credit provided for in the Technology Jobs and Research and Development Tax Credit Act is an amount equal to five percent of the amount of qualified expenditures made by a taxpayer conducting qualified research at a qualified facility. History: Laws 2000 (2nd S.S.), ch. 22, § 5; 2015 (1st S.S.), ch. 2, § 14. ANNOTATIONSThe 2015 (1st S.S.) amendment, effective January 1, 2016, amended language to reflect the new title of the Technology Jobs and Research and Development Tax Credit Act and increased the basic and additional tax credits provided for in the Technology Jobs and Research and Development Tax Credit Act from four percent to five percent of the amount of qualified expenditures; in Subsection A, after "Technology Jobs", added "and Research and Development", and after "an amount equal to", deleted "four" and added "five"; in Subsection B, after "Technology Jobs", added "and Research and Development", and after "an amount equal to", deleted "four" and added "five". Applicability. — Laws 2015 (1st S.S.), ch. 2, § 25 provided that Laws 2015 (1st S.S.), ch. 2, § 14 apply to taxpayers that make a qualified expenditure beginning on or after January 1, 2015.
NM Stat § 7-9F-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9F - Technology Jobs and Research and Development Tax Credit|Section 7-9F-6 - Eligibility requirements.

A. A taxpayer conducting qualified research at a qualified facility and making qualified expenditures is eligible to claim the basic credit pursuant to the Technology Jobs and Research and Development Tax Credit Act. B. A taxpayer conducting qualified research at a qualified facility and making qualified expenditures is eligible to claim the additional credit pursuant to the Technology Jobs and Research and Development Tax Credit Act if: (1) the taxpayer increases the taxpayer's annual payroll expense at the qualified facility by at least seventy-five thousand dollars ($75,000) over the base payroll expense of the taxpayer; (2) the increase in Paragraph (1) of this subsection has not previously been used to meet the requirements of this subsection; and (3) there is at least a seventy-five-thousand-dollar ($75,000) increase in the taxpayer's annual payroll expense for every one million dollars ($1,000,000) in qualified expenditures claimed by the taxpayer in a taxable year in the same claim. History: Laws 2000 (2nd S.S.), ch. 22, § 6; 2015 (1st S.S.), ch. 2, § 15. ANNOTATIONSThe 2015 (1st S.S.) amendment, effective January 1, 2016, amended language to reflect the new title of the Technology Jobs and Research and Development Tax Credit Act; in Subsection A, after "Technology Jobs", added "and Research and Development"; and in the introductory sentence of Subsection B, after "Technology Jobs", added "and Research and Development". Applicability. — Laws 2015 (1st S.S.), ch. 2, § 25 provided that Laws 2015 (1st S.S.), ch. 2, § 15 apply to taxpayers that make a qualified expenditure beginning on or after January 1, 2015. Temporary provisions. — Laws 2015 (1st S.S.), ch. 2, § 22 provided that a taxpayer that becomes eligible for a research and development small business tax credit prior to January 1, 2016 but has not claimed the credit prior to January 1, 2016 may claim the credit in accordance with the provisions of the Research and Development Small Business Tax Credit Act in effect immediately prior to January 1, 2016. The taxation and revenue department shall approve claims submitted but not approved prior to January 1, 2016 if the claim meets the requirements of the Research and Development Small Business Tax Credit Act in effect immediately prior to January 1, 2016. Claiming the research and development small business tax credit pursuant to this section with respect to a reporting period renders the taxpayer ineligible to claim a credit for the same reporting period pursuant to the Technology Jobs and Research and Development Tax Credit Act. Time to apply for tax credit. — Because the provisions of this section, Sections 7-9F-3 and 7-9F-12 NMSA 1978 indicate a legislative concentration on annual reporting and annual payroll expense, these sections indicate no intention to provide a taxpayer an open-ended time to apply for a tax credit. Team Specialty Prods., Inc v. Taxation & Revenue Dep't., 2005-NMCA-020, 137 N.M. 50, 107 P.3d 4.
NM Stat § 7-9F-7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9F - Technology Jobs and Research and Development Tax Credit|Section 7-9F-7 - Repealed.

History: Laws 2000 (2nd S.S.), ch. 22, § 7. ANNOTATIONSRepeals. — Laws 2015 (1st S.S.), ch. 2, § 24, repealed 7-9F-7 NMSA 1978, as enacted by Laws 2000 (2nd S.S.), ch. 22, § 7, relating to qualified expenditures, effective January 1, 2016. For provisions of former section, see the 2014 NMSA 1978 on NMOneSource.com.