New Mexico – Summary of Business-Related Credits

SALT Report 2905 – The New Mexico Taxation and Revenue Department released a publication that discusses the business credits that may be taken against New Mexico corporate income, personal income, gross receipts, compensating, and withholding taxes.

The publication provides a summary of each credit and details regarding who is eligible for the credit, qualifications for claiming the credit, credit amounts and limitations, and the procedures for applying for and claiming the credit.

For Further Information

New Mexico Taxation and Revenue Department – FYI-106, Claiming Tax Credits for CRS Taxes and Business-Related Income