reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 12 - TAXPAYER RETURNS - PAYMENT OF TAX › Section 3.3.12.13 - ELECTRONICALLY FILED RETURNS

Current through Register Vol. 35, No. 13, July 16, 2024
A taxpayer, a taxpayer's representative or a tax return
				  preparer may file the personal income tax return and associated schedules in an
				  electronic format that meets all criteria for filing through an electronic
				  media as set forth by the department. Returns filed through an electronic media
				  must use computer programming determined by the department to be compatible
				  with the computer programming and equipment used by the department for
				  processing income tax returns. The returns must be submitted in an approved
				  format using a computer language designated by the department. The product used
				  to generate the electronic return must receive prior approval from the
				  department for the method of filing.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 12 - TAXPAYER RETURNS - PAYMENT OF TAX › Section 3.3.12.15 - WHEN WITHHELD TAX NOT CONSIDERED ESTIMATED TAX

Current through Register Vol. 35, No. 13, July 16, 2024
Payment pursuant to the Oil and Gas Proceeds and Pass-Through
				  Entity Withholding Tax Act by an oil and gas proceeds remitter or a
				  pass-through entity of withholding tax required to be withheld from payments to
				  a remittee or an owner relate to the remittee's or owner's income tax or
				  corporate income tax liability, not to the remitter's or pass-through entity's.
				  Accordingly, when a remitter or pass-through entity is a person subject to
				  personal income tax and has an obligation to pay estimated tax pursuant to
				  Section
				  7-2-12.2
				  NMSA 1978, the person may not credit the amounts it withheld under Section
				  7-3A-3
				  NMSA 1978 from payments the person owes to remittees or owners against the
				  person's own estimated tax liability. See
				  3.3.5.17
				  NMAC for treatment of withholding owed by remitter or pass-through entity but
				  paid by remittee or owner pursuant to an agreement.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 13 - TAX REBATES AND CREDITS › Section 3.3.13.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 13 - TAX REBATES AND CREDITS › Section 3.3.13.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each resident of New Mexico and to each
				  nonresident employed or engaged in the transaction of business in, into or from
				  New Mexico or deriving any income from any property or employment in New
				  Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 13 - TAX REBATES AND CREDITS › Section 3.3.13.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
1/15/97, unless a later date is cited at the end of a
				  section, in which case the later date is the effective date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 13 - TAX REBATES AND CREDITS › Section 3.3.13.8 - TAX REBATE OF PROPERTY TAX DUE WHICH EXCEEDS THE ELDERLY TAXPAYER'S MAXIMUM PROPERTY TAX LIABILITY - REFUND

Current through Register Vol. 35, No. 13, July 16, 2024
A. Rental component of nursing home charges.
(1) Any resident 65 or older meeting the
				requirements for the tax rebate who resides in a long-term residential care
				facility (nursing home) which is subject to taxation under the Property Tax
				Code and which does not itemize an amount for rent in its billings to the
				resident may compute the allowable amount of property tax rebate in accordance
				with this subsection (3.3.13.8A NMAC).
(2) 32% of the amount billed to, or for the
				benefit of, the resident by the long term residential care facility for the
				taxpayer's taxable year shall be the computed amount of gross rent for the
				purposes of the property tax rebate.
(3) For the purposes of this subsection
				(3.3.13.8A NMAC), the term "long-term residential care facility" means any
				facility which provides room, board and health care services to persons
				residing in the facility for more than a temporary period of time. "Long-term
				residential care facility" does not include any general or other hospital
				unless the hospital maintains a separate area for purposes of providing
				long-term room, board and health care services for persons not requiring
				admission to the hospital.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 13 - TAX REBATES AND CREDITS › Section 3.3.13.9 - CREDIT FOR EXPENSES FOR DEPENDENT CHILD DAY CARE NECESSARY TO ENABLE GAINFUL EMPLOYMENT TO PREVENT INDIGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Definition of "dependent" for
				purposes of the child care credit.
"Dependent" for purposes of Section
				7-2-18.1
				NMSA 1978 is a "dependent" as defined in Section 152 of the Internal Revenue
				Code, as amended or renumbered, and includes a child of divorced or legally
				separated parents when the taxpayer meets all the requirements of Section
				44A(f)(5) and Section 152(E) of the Internal Revenue Code, as amended or
				renumbered.
B.
"Gainfully
				employed" defined.
As used in Section
				7-2-18.1
				NMSA 1978, a resident who is "gainfully employed" includes any resident who is
				working for wages, salary, commissions or any other form of employee
				remuneration or any resident who engages in any business activity as a
				proprietor or partner and who is required to report and pay taxes under the
				provisions of the federal Self-Employment Contributions Act.
C.
Period of gainful employment.
(1) The credit for expenses for dependent
				child day care may only be claimed for expenses which occur during periods in
				which the taxpayer is gainfully employed. A taxpayer may not include child care
				expenses incurred during periods in which the taxpayer is not gainfully
				employed.
(2) Example: X, a single
				parent who provides over 50% of the support of a ten year old dependent child,
				attended school and was not employed during the months of January through May
				of the taxable year. On June 1, X began a career and was employed for the
				remainder of the year. X incurred child care expenses during the whole year. X
				can claim the credit for child care computed on only those expenses which were
				incurred during those months in which X was gainfully employed, June through
				December. X may not include the expenses for child care during the months of
				January through May in computing the amount of the credit.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 13 - TAX REBATES AND CREDITS › Section 3.3.13.10 - CREDIT FOR PRESERVATION OF CULTURAL PROPERTY

Current through Register Vol. 35, No. 13, July 16, 2024
A.
Cultural property credit
				defined.
The preservation of cultural property credit is a credit
				against a taxpayer's New Mexico personal income tax due for amounts expended
				for the restoration, rehabilitation and preservation of cultural property owned
				by the taxpayer and listed on the official New Mexico register of cultural
				properties as those terms are defined in 1 of the cultural properties review
				committee Rule 84-1. Any taxpayer who files a New Mexico personal income tax
				return and who is not a dependent of another individual may claim a credit in
				an amount equal to one-half of the cost of the restoration, rehabilitation or
				preservation of the cultural property, not to exceed a maximum of twenty-five
				thousand dollars ($25,000).
B.
Filing requirements.
(1) The
				claim for the cultural property credit shall consist of a copy of the letter of
				certification, a copy of Form B, part 2 from the cultural properties review
				committee and a copy of the invoices or a statement from the contractor(s)
				showing the cost incurred for the year of the claim.
(2) The claim must be submitted with and
				attached to the New Mexico personal income tax return for the year or years in
				which the restoration, rehabilitation or preservation is carried out.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 13 - TAX REBATES AND CREDITS › Section 3.3.13.11 - QUALIFIED BUSINESS FACILITY REHABILITATION CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A.
No qualified business facility
				rehabilitation credit allowed for cultural or historic properties.
No
				qualified business facility rehabilitation credit will be allowed for any
				qualified business facility that is also:
(1)
				a building listed on the official New Mexico register of cultural properties as
				those terms are defined in section 1 of the cultural properties review
				committee Rule 84-1; or
(2) a
				building listed on the national register or determined to be contributing to a
				national register district.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
3.3.14 NMAC applies to the application and certification procedures for administration of the new solar market development income tax credit.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
3.3.14 NMAC is established under the authority of Section 7-2-18-31 and Subsection 9-1-5 NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
July 16, 2024, unless a later date is cited at the end of a section.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
3.3.14 NMAC's objective is to establish procedures for administering the certification program for the new solar market development income tax credit.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.10 - APPLICATION REVIEW PROCESS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The department shall consider complete applications in the order received. If the department receives multiple applications on the same day that would cumulatively exceed the overall limit of state tax credit or supplemental state tax credit availability, the department shall certify the first application received for the last remaining tax credit.
B. The department shall review the application package to calculate the state tax credit or supplemental state tax credit; check the accuracy of the applicant's documentation; and determine whether the department shall certify the solar energy system. The department shall disapprove an application that is not complete, correct, or does not meet the approval criteria.
C. If the department finds the application package meets 3.3.14 NMAC's requirements and a state tax credit or supplemental state tax credit is available, the department shall certify the applicant's solar energy system and document the applicant as eligible for a state tax credit or supplemental state tax credit, as appropriate. A certificate issue for a system shall include the applicant's contact information, the last four digits of their social security number or EIN, system certification and the state tax credit amount. If a state tax credit or supplemental state tax credit is not available in the calendar year when the application was submitted, the department will notify the applicant that the program has reached the applicable aggregate tax credit certification cap and their application is not certified. The department provides notification of credit unavailability through written notification to the applicant.
D. The department shall report to the taxation and revenue department the information required to verify, process, and distribute each state tax credit or supplemental state tax credit by providing a copy of the department's certification notification.
E. The applicant may submit a revised application package to the department; however, the division shall place the resubmitted application in the review schedule as if it were a new application unless the application is disapproved because the annual cap has been reached.
F. If applicable, the department's disapproval letter shall state the reasons why the department disapproved the application. The applicant may resubmit the application package for a disapproved project, but it shall be reviewed as if it were a new application.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.11 - SAFETY, CODES AND STANDARDS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Solar energy systems that the department may certify shall meet the following requirements:
(1) compliance with the latest adopted version of all applicable federal, state, and local government statutes or ordinances, rules or regulations and codes and standards that are in effect at the time that the applicant submits the application package.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.12 - MINIMUM SYSTEM SIZES, SYSTEM APPLICATIONS AND LISTS OF ELIGIBLE COMPONENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Solar energy systems or their portions that the department may certify shall meet the following requirements:
(1) be primarily constituted by new equipment, components, and materials; except that the department may certify a system with recycled or reused components if the use of a used component would not adversely impact generation efficiency or overall system longevity and so long as it is not otherwise ineligible for certification;
(a) a system that is on a recreational vehicle, is mobile, does not serve a permanent end use energy load or is not permanently located in New Mexico;
(b) a system that is not connected to a structure or foundation and does not serve a permanent end use energy load or is not permanently located in New Mexico;
(c) a system or portion of a system having one or more components not manufactured on a regular basis by a business enterprise; and
(d) a system or portion of a system that replaces a system or portion of a system the department has certified in a previous application for a state tax credit.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.13 - CERTIFICATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. The purpose of the department's certification program is to evaluate certification of complete solar energy systems for state tax credit or supplemental state tax credit eligibility that are composed of components and materials that are tested, certified, approved or listed, as applicable, by other organizations identified or referenced in 3.3.14 NMAC.
B. If an applicant has received a state tax credit or a supplemental state tax credit for a solar energy system under this part, the solar energy system may not be used to meet the requirements for other tax credits available under state law:
(1) If the 2021 sustainable building tax credit application uses a solar energy system to achieve the energy reduction performance rating, and that solar energy system was previously certified for the state tax credit or the supplemental state tax credit, the department shall disapprove the application for that portion of a 2021 sustainable building tax credit;
(2) if an onsite solar system is used to meet the 2021 sustainable building tax credit requirements of either the rating system certification level or the energy reduction requirement, the applicant may not claim a state tax credit or supplemental state tax credit under this part;
(3) a solar energy system may receive a state tax credit or supplemental state tax credit new installation certification only once; and
(4) in the case of an expansion to an existing solar energy system that previously received certification as a new installation, the department may approve a subsequent certification, but any credit issued shall cover only the costs of the expansion portion of the solar energy system.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.14 - CALCULATING THE SOLAR ENERGY SYSTEM COST

Current through Register Vol. 35, No. 13, July 16, 2024
A. A state tax credit or supplemental state tax credit shall be based on the equipment, materials, labor, design fees, permitting inspection fees, design review stamp and interconnections costs of a solar energy system the department has certified. Self-installed systems shall be eligible for these costs, except that self-installers may not claim their own labor but may claim labor they hire.
B. The equipment, materials, and labor costs of a solar energy system the department certifies shall be documented in an itemized invoice. An invoice shall itemize the following costs which include but are not limited to: permits, design, equipment, material, categorized fees, and installation labor of a solar energy system.
C. The cost of a solar energy system the department certifies shall be the net cost of acquiring the system and shall not include the following:
(1) expenses, including but not limited to:
(a) unpaid labor or the applicant's labor;
(b) unpaid equipment or materials;
(c) land costs or property taxes;
(d) costs of structural, surface protection and other functions in building elements that would be included in building construction if a solar energy system were not installed;
(e) mortgage, lease or rental costs of the residence, business or agricultural enterprise;
(f) legal and court costs;
(g) research fees or patent search fees;
(h) membership fees;
(i) financing costs or loan interest;
(j) marketing, promotional or advertising costs;
(k) repair, operating or maintenance costs;
(l) warranty or extended warranty costs;
(m) system resale costs;
(n) system visual barrier costs;
(o) adjacent structure modification costs for building structures such as portals, garages, or pergolas to hold solar panels, or costs for modification or roof repair to hold solar panels;
(p) vegetation maintenance costs including tree trimming;
(q) contractor or inspector travel, mileage, or overnight hotel stays;
(r) recreational vehicle or hot tub ports;
(s) trenching exceeding 50 feet;
(t) donations to food banks on the applicant's behalf;
(u) system critter guard;
(v) non-descriptive miscellaneous items; and
(w) excess battery storage that is not consistent with industry standards;
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

Current through Register Vol. 35, No. 13, July 16, 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.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.16 - CLAIMING THE STATE TAX CREDIT OR SUPPLEMENTAL STATE TAX CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. An applicant shall apply for the state tax credit or supplemental state tax credit with the taxation and revenue department and provide the department certification and any other information the taxation and revenue department requires within 12 months following the calendar year in which the system was installed.
B. An applicant claiming a state tax credit or supplemental state tax credit shall not claim a state tax credit pursuant to another law for costs related to the same solar energy system costs.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 14 - NEW SOLAR MARKET DEVELOPMENT INCOME TAX CREDIT › Section 3.3.14.17 - INSPECTION OF SOLAR ENERGY SYSTEMS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The only inspection required through this application process for certification of an applicant's solar energy system are an inspection by the applicable building code authority for building, electrical, or mechanical code compliance, as applicable to the solar energy system type, if applicable. An applicant should be aware that their electric utility company may require additional inspections for photovoltaic systems that are interconnected to the distribution grid of that electric utility company. The applicant is solely responsible for compliance with such requirements.
B. For purposes of monitoring compliance with 3.3.14 NMC, the department or its authorized representative shall have the authority to inspect a solar system owned by an applicant who has submitted an application for certification, upon the department providing five days' notice to the applicant."
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 20 - RENTS AND ROYALTIES › Section 3.3.20.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 20 - RENTS AND ROYALTIES › Section 3.3.20.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each resident of New Mexico and to each
				  nonresident employed or engaged in the transaction of business in, into or from
				  New Mexico or deriving any income from any property or employment in New
				  Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 20 - RENTS AND ROYALTIES › Section 3.3.20.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
1/15/97, unless a later date is cited at the end of a
				  section, in which case the later date is the effective date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 20 - RENTS AND ROYALTIES › Section 3.3.20.8 - INFORMATION RETURNS; RENTS AND ROYALTIES

Current through Register Vol. 35, No. 13, July 16, 2024
A. Persons paying rents and royalties from
				oil and gas properties located in New Mexico, who are required to file internal
				revenue service information return Form 1099-MISC on such payments shall file
				the rent and royalty information with the department in the manner stated
				below.
(1) Persons paying such rents and
				royalties on properties located in New Mexico are required to segregate the New
				Mexico rents and royalties paid from the rents and royalties paid everywhere
				and report only those rents and royalties from New Mexico properties to the
				department. The department will accept the information on magnetic media in
				lieu of paper returns. The magnetic media must comply with the internal revenue
				service reporting requirements for filing information returns.
(2) A person who has entered into an
				agreement with the internal revenue service identified as Consent For Internal
				Revenue Service To Release Tax Information will be deemed to have complied with
				the filing requirements of this section (3.3.20.8 NMAC).
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 20 - RENTS AND ROYALTIES › Section 3.3.20.9 - INFORMATION RETURNS; OIL AND GAS WITHHOLDING

Current through Register Vol. 35, No. 13, July 16, 2024
For annual statements of withholding and information returns
				  to be filed by remitters of oil and gas proceeds see Sections
				  3.3.5.7 through
				  3.3.5.15
				  NMAC promulgated under Section
				  7-3A-7
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
3.3.28 NMAC applies to the application and certification
				  procedures for administration of the solar market development tax
				  credit.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
3.3.28 NMAC is established under the authority of NMSA 1978,
				  Sections
				  7-2-18.14
				  and 9-1-5(E).
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
July 1, 2006 unless a later date is cited at the end of a
				  section.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
3.3.28 NMAC's objective is to establish procedures for
				  administering the certification program for the solar market development tax
				  credit.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.8 - GENERAL PROVISIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Only a New Mexico taxpayer having purchased and installed an operating solar
				energy system the department has certified is eligible for a state tax
				credit.
B. A corporation shall not
				be eligible for certification of a solar energy system the corporation owns
				under 3.3.28 NMAC's requirements. A corporation may install a solar energy
				system that complies with 3.3.28 NMAC's requirements and sell the solar energy
				system in a residence, business or agricultural enterprise to a taxpayer. If by
				this sale the taxpayer becomes the full owner of both the solar energy system
				and the residence, business or agricultural enterprise, and complies with
				3.3.28 NMAC's requirements, that taxpayer is eligible for certification of that
				solar energy system.
C. A taxpayer
				owning a solar energy system the department certifies shall locate that system
				at the residence, business or agricultural enterprise that taxpayer owns. The
				taxpayer may rent a residence, business or agricultural enterprise that the
				taxpayer owns to another entity.
D.
				The annual aggregate amounts of the state tax credit available to taxpayers
				owning certified solar energy systems is limited to $2,000,000 for solar
				thermal systems and $3,000,000 for photovoltaic systems per calendar year. When
				the $2,000,000 limit for solar thermal systems or the $3,000,000 limit for
				photovoltaic systems is reached based on the total of taxpayers certified, the
				department will no longer certify taxpayers, but will accept them for future
				consideration in the next year, except for the last taxable year when the state
				tax credit is in effect. The division shall keep a record of the order of
				receipt of all application packages.
E. In the event of a discrepancy between a
				requirement of 3.3.28 NMAC and an existing New Mexico regulation and licensing
				department or New Mexico taxation and revenue department rule promulgated prior
				to 3.3.28 NMAC's adoption, the existing rule shall govern.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.10 - APPLICATION REVIEW PROCESS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The department shall consider applications
				in the order received, according to the day they are received, but not the time
				of day. The department gives applications received on the same day equal
				consideration. If the department approves applications received on the same day
				and the applications would exceed the overall limit of state tax credit
				availability, then the department divides the available state tax credit among
				those applications on a prorated, net solar energy system cost basis.
B. The division reviews the application
				package to calculate the state tax credit, checks accuracy of the applicant's
				documentation and determines whether the department certifies the solar energy
				system.
C. If the division finds
				that the application package meets 3.3.28 NMAC's requirements and a state tax
				credit is available, the department certifies the applicant's solar energy
				system and documents the taxpayer as eligible for a state tax credit. If a
				state tax credit is not available in the taxable year of certification of the
				solar energy system submitted in the application package, the division places
				the taxpayer on a waiting list for inclusion in the following taxable year, if
				a state tax credit remains available. The department provides approval through
				written notification to the applicant. The notification shall include the
				taxpayer's contact information, social security number, system certification
				number, net solar energy system cost eligible for the state tax credit, the
				state tax credit amount and waiting list status, if applicable.
D. The division reports to the taxation and
				revenue department the information required to verify, process, and distribute
				each state tax credit by providing a copy of the department's approval
				notification.
E. The applicant may
				submit a revised application package to the division. The division shall place
				the resubmitted application in the review schedule as if it were a new
				application.
F. The department
				disapproves an application that is not complete or correct or does not meet the
				approval criteria. The department's disapproval letter shall state the reasons
				why the department disapproved the application. The applicant may resubmit the
				application package for the disapproved project. The division places the
				resubmitted application in the review schedule as if it were a new
				application.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.11 - SAFETY, CODES AND STANDARDS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Solar energy systems that the department
				may certify shall meet the following requirements:
(1) compliance with the latest adopted
				version of all applicable federal, state and local government statutes or
				ordinances, rules or regulations and codes and standards that are in effect at
				the time that the applicant submits the application package;
(2) compliance with all applicable utility
				company or heating fuel vendor requirements, if the system being served with a
				solar energy system is also served by utility electricity or a heating
				fuel;
(3) compliance with the
				building code authority's structural design requirements, as applicable to new
				and existing structures upon which solar energy system components may be
				mounted and support structures of solar energy system components;
(4) permitted and inspected by the building
				code authority for building, electrical or mechanical code compliance, as
				applicable to the type of solar energy system installed; and
(5) a written final inspection approval
				obtained from the building code authority after the solar energy system's
				installation, as applicable to the solar energy system type, or alternative
				system approval as allowed by 3.3.28 NMAC.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.12 - SOLAR COLLECTOR AND MODULE ORIENTATION AND SUN EXPOSURE

Current through Register Vol. 35, No. 13, July 16, 2024
A. A solar energy
				system array the department certifies shall have an azimuth angle or sun
				exposure reduction due to shading or other factors that results in annual
				energy production of the total solar energy system having a combined derating
				of not more than 25 percent when compared to an ideal solar energy system at
				the same location that has an unshaded array tilt equal to local latitude and
				azimuth of true south. For cases in which the combined impact of orientation
				and sun exposure of an array is evaluated, the applicant shall estimate a
				derating using a department approved method or model.
B. A tracking array of a solar energy system
				that the department certifies shall have a mechanism to track the sun so that
				the array absorber surface consistently receives the sun's direct beam at all
				times when the direct beam of full sun is available, without requiring manual
				adjustment, except for a solar energy system having the following tracking
				array control features:
(1) automatic and
				intentional stowage of the array due to high velocity wind to avoid damage to
				the array and its support structure;
(2) automatic and intentional adjustment to
				off-direct-beam array orientations at low sun angles to optimize the solar
				energy system's annual energy production; or
(3) other automatic and intentional array
				control features that demonstrate to the department's satisfaction that the
				solar energy system's annual energy production is optimized.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.13 - MINIMUM SYSTEM SIZES, SYSTEM APPLICATIONS AND LISTS OF ELIGIBLE COMPONENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Solar energy systems or their portions that the department may certify shall
				meet the following requirements:
(1) be made
				of new equipment, components and materials;
(2) if installed by a contractor, have a
				written minimum two year warranty provided by the contractor on parts,
				equipment and labor with the following exceptions;
(a) the warranty provided by the contractor
				on each specific piece of equipment shall not exceed the duration and
				conditions of the warranty provided by the manufacturer of the equipment
				against defects in materials and workmanship;
(b) in the case of an expansion of an
				existing system, the warranty provided by the contractor shall be limited to
				cover only parts, equipment and labor directly related to the upgrade or
				expansion; and
(c) the owner of the
				solar energy system shall bear the actual cost of shipping the product for the
				repair and replacement.
(3) be a complete energy system that
				collects, converts and distributes solar energy to the residence, business or
				agricultural enterprise it serves, unless requirements are met for expansion of
				an existing solar energy system or replacement of an existing solar energy
				system's components;
(4) if an
				expansion of an existing solar energy system, end use annual energy production
				of the new system shall be increased in comparison to the existing system by
				the amount of the minimum system size requirement and the contractor or
				homeowner shall provide a written summary of the condition of each major
				component of the system;
(5) if
				replacement of one or more components of an existing system, end use annual
				energy production of the new system shall be increased in comparison to the
				system's operation under existing conditions and the contractor or homeowner
				shall provide a written summary of the condition of each of the system's major
				components; and
(6) if a specialty
				or retrofit component is required for a complete solar energy system, then that
				component shall be included as part of the solar energy system that is eligible
				for department certification.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.14 - INNOVATIVE SOLAR ENERGY SYSTEMS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The department may certify an innovative
				solar energy system.
B. A taxpayer
				shall request that the department review an application package as an
				innovative solar energy system.
C.
				The division shall conduct a design review of a solar energy system when the
				taxpayer has requested innovative status.
D. The department may determine that a solar
				energy system is innovative if
(1) it does
				not include a system application, component, packaged system, solar thermal
				collector type or photovoltaic module type that the department may certify;
				and
(2) the division approves the
				design.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.15 - CERTIFICATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. The purpose of
				the department's certification program is to evaluate certification of complete
				solar energy systems for state tax credit eligibility that are comprised of
				components and materials that are tested, certified, approved, or listed, as
				applicable, by other organizations identified or referenced in 3.3.28
				NMAC.
B. When a taxpayer has
				installed a solar energy system, submits an application package, and complies
				with 3.3.28 NMAC's certification requirements, then the solar energy system the
				taxpayer owns is eligible to receive department certification. The taxpayer
				shall submit a completed application package.
C. For purposes of monitoring compliance with
				3.3.28 NMAC, the division or its authorized representative shall have the
				authority to inspect a solar energy system owned by a taxpayer who has
				submitted an application for certification, upon the division providing five
				days notice to the taxpayer.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.16 - CALCULATING THE SOLAR ENERGY SYSTEM COST

Current through Register Vol. 35, No. 13, July 16, 2024
A. A state tax credit shall be based on the
				equipment, materials and labor costs of a solar energy system the department
				has certified.
B. The equipment,
				materials and labor costs of a solar energy system the department certifies
				shall be documented in writing.
C.
				The cost of a solar energy system the department certifies shall be the net
				cost of acquiring the system and shall not include the following:
(1) expenses, including but not limited to:
(a) unpaid labor or the applicant's
				labor;
(b) unpaid equipment or
				materials;
(c) land costs or
				property taxes;
(d) costs of
				structural, surface protection and other functions in building elements that
				would be included in building construction if a solar energy system were not
				installed;
(e) mortgage, lease or
				rental costs of the residence, business or agricultural enterprise;
(f) legal and court costs;
(g) research fees or patent search
				fees;
(h) fees for use permits or
				variances;
(i) membership
				fees;
(j) financing costs or loan
				interest;
(k) marketing,
				promotional or advertising costs;
(l) repair, operating, or maintenance
				costs;
(m) extended warranty
				costs;
(n) system resale
				costs;
(o) system visual barrier
				costs;
(p) adjacent structure
				modification costs; and
(q)
				vegetation maintenance costs;
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.17 - CALCULATING THE STATE TAX CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. A state tax credit to a taxpayer for a
				solar energy system the department has certified shall not exceed:
(1) 10 percent of the net solar energy system
				cost as provided in 3.3.28.16 NMAC; and
(2) $9000.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.18 - CLAIMING THE STATE TAX CREDIT

Current through Register Vol. 35, No. 13, July 16, 2024
A. To claim the state tax credit, a taxpayer
				owning a solar energy system that the department has certified shall submit to
				the taxation and revenue department a claim, which shall consist of the
				notification the department issued to the taxpayer, a completed claim form the
				taxation and revenue department has approved and any other information the
				taxation and revenue department requires.
B. If the amount of state tax credit claimed
				exceeds the taxpayer's individual income tax liability, the taxpayer may carry
				the excess forward for up to 10 consecutive taxable years.
C. A taxpayer who has both a carryover state
				tax credit and a new state tax credit derived from a certified solar energy
				system in the taxable year for which the return is being filed shall first
				apply the amount of carryover state tax credit against the income tax
				liability. If the amount of liability exceeds the carryover state tax credit,
				then the taxpayer may apply the current year credit against the
				liability.
D. A taxpayer claiming a
				state tax credit shall not claim a state tax credit pursuant to another law for
				costs related to the same solar energy system costs.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.19 - CONSUMER INFORMATION

Current through Register Vol. 35, No. 13, July 16, 2024
A. If
				a contractor installs the solar energy system, the contractor shall inform the
				taxpayer about system design, installation, performance, operation and
				maintenance by providing the following:
(1)
				prior to system installation, a summary of the specific system type that meets
				all 3.3.28 NMAC's requirements, the system's capacity or size, and the system's
				estimated annual energy production;
(2) upon completion of system installation,
				written operation and maintenance instructions, including how to conduct simple
				diagnostic observations and tests to determine if the solar energy system is
				working properly to produce energy;
(3) upon completion of system installation, a
				written summary of operation and maintenance instructions on one page, posted
				at an accessible location acceptable to the taxpayer and that is near or at the
				solar energy system's array or balance of system components; and
(4) upon completion of system installation,
				written warranties in effect for equipment and contractor's labor, including
				their start and end dates and telephone, address and website contact
				information, as applicable, for honoring or extending warranties.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 28 - SOLAR MARKET DEVELOPMENT TAX CREDIT › Section 3.3.28.20 - INSPECTION OF SOLAR ENERGY SYSTEMS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The inspections required through the
				application process for certification of a taxpayer's solar energy system are:
(1) inspection by the building code authority
				for building, electrical or mechanical code compliance, as applicable to the
				solar energy system type; and
(2)
				inspection for compliance with electric utility company requirements for
				photovoltaic systems that are interconnected to the distribution grid of that
				electric utility company, if applicable.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 29 - SUSTAINABLE BUILDING TAX CREDIT FOR RESIDENTIAL BUILDINGS › Section 3.3.29.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
3.3.29 NMAC applies to the application and certification
				  procedures for administration of the sustainable building tax credit for
				  sustainable residential buildings.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 29 - SUSTAINABLE BUILDING TAX CREDIT FOR RESIDENTIAL BUILDINGS › Section 3.3.29.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
3.3.29 NMAC is established under the authority of NMSA 1978,
				  Section
				  7-2-18.19
				  and NMSA 1978, Section
				  9-1-5.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 29 - SUSTAINABLE BUILDING TAX CREDIT FOR RESIDENTIAL BUILDINGS › Section 3.3.29.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
October 31, 2007, unless a later date is cited at the end of
				  a section.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 29 - SUSTAINABLE BUILDING TAX CREDIT FOR RESIDENTIAL BUILDINGS › Section 3.3.29.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
3.3.29 NMAC's objective is to establish procedures for
				  administering the program to issue a certificate of eligibility for the
				  sustainable building tax credit for sustainable residential
				  buildings.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 3 - PERSONAL INCOME TAXES › Part 29 - SUSTAINABLE BUILDING TAX CREDIT FOR RESIDENTIAL BUILDINGS › Section 3.3.29.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. "Annual cap"
				means the annual total amount of the sustainable building tax credit available
				to taxpayers owning sustainable residential buildings.
B. "Applicant" means a taxpayer who owns a
				sustainable residential building in New Mexico and who desires to have the
				department issue a certificate of eligibility for a sustainable building tax
				credit.
C. "Application package"
				means the application documents an applicant submits to the division to receive
				a certificate of eligibility for a sustainable building tax credit.
D. "Build green New Mexico certification"
				means the verification by a department-approved verifier, that a building
				project has met certain prerequisites and performance benchmarks or credits
				within each category of the build green New Mexico rating system resulting in
				the issuance of a certification document.
E. "Build green New Mexico rating system"
				means the certification standards adopted by the homebuilders association of
				central New Mexico.
F.
				"Certification" means build green New Mexico certification, LEED certification
				or energy star qualified.
G.
				"Certificate of eligibility" means the document, with a unique identifying
				number that specifies the amount and taxable year for the approved sustainable
				building tax credit.
H.
				"Certification level" means one of the following:
(1) LEED-H silver or build green New Mexico
				silver;
(2) LEED-H gold or build
				green New Mexico gold; or
(3)
				LEED-H platinum or build green New Mexico emerald.