RPD-41372                     State of New Mexico - Taxation and Revenue Department 
Rev. 08/20/2015
                VETERAN EMPLOYMENT TAX CREDIT CLAIM FORM
HOW TO USE THIS FORM. When claiming a veteran employment tax credit, this form must accompany the tax return to 
which the taxpayer wishes to apply the credit. 

NOTE: Excess credit may not be refunded to the taxpayer, but may be carried forward for up to three years. Please see the 
instructions to determine the correct amount that can be applied to any return. 
Attach this form to the tax return to which you wish to apply the credit and mail to the address on the tax return. For assistance 
claiming this credit call (505) 827-0792.

ABOUT THIS TAX CREDIT
For tax years beginning on or after January 1, 2012 but not after December 31, 2016, a taxpayer who employs a qualified 
military veteran in New Mexico is eligible for a credit against the taxpayer’s personal or corporate income tax liability for up 
to $1,000 for wages paid to each qualified military veteran who is employed full time in New Mexico. If the veteran is em-
ployed for less than a full year, the credit for that year is reduced based on the fraction of the year the veteran was actually 
employed. The credits allowed per veteran are limited to a maximum of one year’s employment. See the instructions for 
Form RPD-41371, Application for Veteran  Employment Tax Credit, for additional requirements. 

To apply for the credit, submit a completed Form RPD-41371, Application for Veteran Employment Tax Credit, to the Taxation 
and Revenue Department (TRD). See Form RPD-41371 for details on obtaining approval. Once you have been approved 
for the credit by TRD you may use this Form RPD-41372, Veteran Employment Tax Credit Claim Form, to claim the credit 
against your personal or corporate income tax liability due. When claiming approved veteran employment tax credit(s), this 
form must accompany the tax return to which the taxpayer wishes to apply the credit.

That portion of a veteran employment tax credit approved by TRD that exceeds a taxpayer’s income tax liability in the tax 
year in which the veteran employment tax credit is claimed may not be refunded to the taxpayer, but may be carried forward 
for up to three years.  
  Name of taxpayer (claimant)                                       Enter the FEIN or the SSN of the claimant
                                                                                                                 Check one: FEIN
                                                                                                                            SSN

Computation of the Amount of Tax Credit Claimed
1.  Enter the beginning and ending date of the report period to which you wish 
                                                                                   From                            to
   to apply approved veteran employment tax credit.

2. Enter the net New Mexico income tax calculated before applying any 
   credit.
                                                                                   2. $
 3.  Enter the portion of total credit available (from Schedule A) claimed on your 
   current New Mexico PIT-1, CIT-1, S-Corp or FID-1 tax return. Do not enter 
   more than the amount of Net New Mexico tax due. The credit used may not 
   exceed the amount of tax otherwise due. Also attach a completed Schedule 
   CR for the applicable tax program.                                              3. $

Enter the credit claimed on the applicable line of the New Mexico income tax Schedule PIT-CR, CIT-CR, S-Corp-CR, or 
FID-CR, and attach it to the New Mexico income tax return to which the credit is to be applied. The veteran employment tax 
credit may be deducted only from the claimant’s New Mexico personal or corporate income tax liability. 

NOTE: Failure to attach this form to your New Mexico personal or corporate income tax return will result in denial of the credit.

 I certify that I have examined this return including accompanying returns and statements, and to the best of my knowledge 
 and belief, they are true, correct and complete.

 Signature of Taxpayer or Agent                    Title                                     Date 

RPD-41372              State of New Mexico - Taxation and Revenue Department
Rev. 08/20/2015
                   VETERAN EMPLOYMENT TAX CREDIT CLAIM FORM
                                        Schedule A

Once the veteran employment tax credit is approved, complete and attach Form RPD-41372, Veteran Employment Tax 
Credit Claim Form, including Schedule A, to your New Mexico tax return.  If claiming the credit against income taxes, also 
attach the applicable tax credit Schedule PIT-CR, CIT-CR, S-Corp-CR or FID-CR.

          (a)      (b)              (c)              (d)                      (e)                       (f) 
TRD - approval #   Year of approval Amount of credit Total credit claimed     Unused credit [(c) - (d)] Applied to the attached 
                                    approved         in previous tax years                              return

                                                     TOTAL credit available
                                                     Enter the sum of column (f) here and on 
                                                     line 3 of Form RPD-41372, page 1.

RPD-41372                       State of New Mexico - Taxation and Revenue Department 
Rev. 08/20/2015
                     VETERAN EMPLOYMENT TAX CREDIT CLAIM FORM
                                                    INSTRUCTIONS

The veteran employment tax credit may not be transferred to another taxpayer, but the right to claim the credit may be al-
located to the owners of a business entity that is taxed federally as a partnership. The credit may be allocated to owners in 
proportion to the owner’s interest in the business. See Form RPD-41371, Application for Veteran Employment Tax Credit, 
for allocating the credit.

Married individuals filing separate returns for a tax year for which they could have filed a joint return, each may claim only 
one-half of the veteran employment tax credit that would have been claimed on a joint return.

HOW TO COMPLETE THIS FORM  
Enter the name of the claimant and the claimant’s federal identification number (FEIN) or social security number (SSN). 
Indicate whether the number is the FEIN or the SSN by checking the applicable box. 

On line 1, enter the beginning and ending date of the report period to which you wish to apply the approved credit. C   omplete 
lines 2 and 3 showing the net New Mexico tax due and the amount of credit claimed.  All claimants must complete and 
attach Schedule A reporting each credit claimed. NOTE: Excess credit may not be refunded to the taxpayer, but may be 
carried forward for up to three years. 

Attach this claim form (RPD-41372) to the tax return to which you wish to apply the veteran employment tax credit. 

Approved credit should first be applied to the tax due for the year in which the wages were paid. Then apply the carryforward 
of approved credits for wages paid in a prior year. Excess credit may not be refunded to the taxpayer, but may be carried 
forward for up to three years.  

                                             Schedule A Instructions
For each veteran employment tax credit approved, complete a row in Schedule A.  Do not include credits which have been 
claimed in full.  

                                           COLUMN INSTRUCTIONS
(a) Credit number.   Enter the credit number assigned by the Taxation and Revenue Department on your approval docu-
mentation.
(b) Year of approval. Enter the employer’s tax year in which the eligible employment took place from your approval docu-
mentation.
(c) Amount of credit approved. For each credit, enter the amount of credit approved.
(d) Credit previously claimed   . For each credit, enter the total amount of credit claimed in all report periods prior to the 
current report period. 
(e) Unused credit. For each credit, subtract the amount in column (d) from the amount in column (c). 
(f) Applied to the attached return.   For each credit, enter in column (f) the amount that is applied to the attached New 
Mexico tax return. 

When calculating the amount in column (f), apply the following rules:
•   Applying credits:     Apply veteran employment tax credits in the order that they were approved. If you have both a 
    carry-forward credit and new credit for the current tax year, apply the oldest credit against the income tax liability first.
•   The maximum amount of credit claimed in a tax year. The sum of tax credits applied to the tax due on the return 
    may not exceed the income tax claimed on the New Mexico income tax return. That amount is the net New Mexico 
    income tax calculated before applying any tax credits claimed.
               NOTE:  Failure to attach this form and other required attachments to your New Mexico tax return
                                              will result in denial of the credit.