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Combined Heat and Power Partnership

Advanced Energy Gross Receipts Tax Deduction

dCHPP Glossary (PDF) (2 pp, 53K)

Date Last Updated11/16/2012
Incentive TypeTax
Incentive Administrator/Contact OfficeNew Mexico Taxation & Revenue Department
Incentive Initiation Date7/1/2010
Incentive Size and Funding SourceNew 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. Revenue generated by the sale and installation of a "qualified generating facility" may be deducted from gross receipts before the gross receipts tax is calculated. The deductions are allowed for a 10 year period starting the year construction begins. The maximum incentive is $60 million.
Eligible RecipientThe owner of a qualified generating facility and other involved parties including installers, contractors, and retail suppliers.
Eligible FuelDoes Not Specify
Eligible Project Size (MW)1.0 MW or greater
Minimum Efficiency Required (%)Does Not Specify
Other Selected Eligibility CriteriaTo qualify for the exemption, the owner of a qualified generating facility must first obtain a certificate of eligibility from the Department of Environment. The owner must then present the certificate of eligibility to the Taxation and Revenue Department to obtain a nontaxable transaction certificate. The owner must then give the nontaxable transaction certificate to the seller of the equipment. House Bill 440 of 2011 amended this credit to allow it to be claimed on equipment leased in addition to equipment purchased.
Application Form(s)Application Form (PDF) (6 pp, 201K)
Resource Website(s) http://programs.dsireusa.org/system/program/detail/4029 exit EPA

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