N.M. Admin. Code § 3.3.14.15

Current through Register Vol. 36, No. 1, January 14, 2025

Section 3.3.14.15 - CALCULATING THE STATE TAX CREDIT OR SUPPLEMENTAL STATE TAX CREDIT

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.

B. The taxation and revenue department shall make the final determination of the amount of a state tax credit.

N.M. Admin. Code § 3.3.14.15

Adopted by New Mexico Register, Volume XXXI, Issue 16, August 25, 2020, eff. 8/25/2020, Amended by New Mexico Register, Volume XXXIII, Issue 23, December 13, 2022, eff. 12/13/2022, Adopted by New Mexico Register, Volume XXXV, Issue 13, July 16, 2024, eff. 7/16/2024