New Mexico has a gross receipts tax structure for businesses instead of a sales tax. Businesses are taxed on the gross amount of their business receipts each year before expenses are deducted. Receipts associated with the sale of certain wind turbine equipment to federal, state, or local government entities are exempt from being added to gross receipts. S.B. 201, signed in March 2010, extended this exemption to solar thermal electric and photovoltaic systems sold to a government on or after July 1, 2010.
|Incentive Type:||Sales Tax Incentive|
|Administrator:||New Mexico Taxation & Revenue Department|
|Eligible Renewable/Other Technologies:||
|Name:||N.M. Stat. § 7-9-54.3|
|Date Enacted:||2002 (subsequently amended)|
|Name:||Public Information - NM TRD|
|Organization:||New Mexico Taxation & Revenue Department|
P.O. Box 630
Santa Fe NM 87504-0630
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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