New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.9 - APPLICATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. To apply for a state tax credit an applicant shall submit an application for a certificate of eligibility to the division using either a department-developed application or an approved electronic application system as directed by the division director. The department will not accept paper applications or applications submitted by e-mail unless specifically authorized by the division. An applicant may obtain a state tax credit application form and system installation form from the division.
B. An application package shall include a completed state tax credit application form and written attachments for a solar thermal system or photovoltaic system. To be considered complete, an application must include the state tax credit application form and any required attachments; partial applications will not be accepted. An applicant shall submit one application package for each eligible solar energy system. After the department has certified a solar energy system, applicants may not amend the certified application package to seek additional credits for that system. If there are multiple owners of the property where the solar energy system is installed, a joint application must be submitted.
C. The application package shall meet the requirements of 3.3.14 NMAC. If an application package fails to meet a requirement, the department shall disapprove the application.
D. The completed application form shall consist of the following information:
(1) the applicant's name, mailing address, e-mail address, telephone number and the last four digits of the applicant's social security number or employer identification number (EIN) provided by a business or agricultural enterprise;
(2) the address where the solar energy system is located, if located at a residence, business or agricultural enterprise, or a location description if located at an agricultural enterprise;
(3) the solar energy system's type and description;
(4) the date the solar energy system was installed;
(5) if a contractor installed the solar energy system, the contractor's name, address, telephone number, e-mail address, license category and license number;
(6) acknowledgement the applicant installed the solar energy system, if applicable;
(7) the separately itemized net cost of equipment, materials, and labor of installing the solar energy system, excluding the expenses and income listed in 3.3.14 NMAC; and
(8) a statement the applicant signed and dated, which signature may be a form of electronic signature if approved by the department, agreeing that:
(a) all information provided in the application package is true and correct to the best of the applicant's knowledge;
(b) applicant understands that there is annual aggregate cap on available state tax credits in place for solar energy systems and that they are eligible for a credit only in the year the system was installed, or, in the case of systems installed in 2020, 2021, 2022 and 2023, tax year 2023;
(c) applicant understands that the department must certify the solar energy system documented in the application package before becoming eligible for a state tax credit;
(d) applicant agrees to make any changes the department requires to the solar energy system for compliance with 3.3.14 NMAC; and
(e) to ensure compliance with 3.3.14 NMAC, applicant agrees to allow the department or its authorized representative to inspect the solar energy system described in the application package at any time after the date of submittal of the application package until three years after the department has certified the solar energy system, upon the department providing a minimum of five days' notice to the applicant.