Doing Business in Rio Rancho

Economic Development Incentives and Finance

Additional Tax Credit Information

New Mexico’s tax code includes a number of tax credits for business. Among the credits are the following: Investment Tax Credit Act, High Wage Jobs Tax Credit, Welfare to Work Tax Credit, Child Care Corporate Income Tax Credit, Research and Development Small Business Tax Credit, Technology Jobs Tax Credit, and Research and Development Tax Deduction

                          

Additional information on New Mexico business taxes and associated tax credits and deductions can be obtained from the New Mexico Department of Taxation and Revenue at www.stae.nm.us/tax. Tax publication FYI - 106, Claiming Tax Credits for CRS Taxes and Business Related Income is available for free download at www.state.nm.us/tax/pubs/FYI-106.pdf.

Tax Deductions

New Mexico’ s tax code also allows for a number of tax deductions. Among the deductions, companies should examine for their applicability are the following: Telemarketing Gross Receipts Tax Exemption, Research and Development Gross Receipts Tax Deduction, Web Hosting Gross Receipts Tax Deduction, Aircraft Manufacturing Tax Deduction, and Aircraft Maintenance or Remodeling Tax Deduction.

The New Mexico Taxation and Revenue Department is located at 5301 Central Avenue, Albuquerque, New Mexico 87198. Telephone: 505-841-6200. The website is located at www.state.nm.us/tax.