RPD-41167                                                         New Mexico Taxation and Revenue Department
Rev 07/01/2020
                                       APPLICATION FOR INVESTMENT CREDIT
WhoWho Must File:Must  A taxpayerFile:      who qualifies for an investment tax credit pursuant to the Investment Credit Act, Sections 7-9A-1 A taxpayer who qualifies for an investment tax credit pursuant to the Investment Credit Act, Sections 7-9A-1 
throughthrough 7-9A-11, NMSA 1978 must complete and submit this application within one year following the end of the calendar 7-9A-11, NMSA 1978 must complete and submit this application within one year following the end of the calendar 
yearyear in which the qualified equipment for the manufacturing operation is purchased or introduced into New Mexico. For in which the qualified equipment for the manufacturing operation is purchased or introduced into New Mexico. For 
questionsquestions regarding the application or status of credit approval, send an e-mail toTRD-BusinessCredit@state.nm.usregarding the application or status oforcreditcall                                                                            approval, send an e-mail to TRD-BusinessCredit@state.nm.us or call 
(505) 795-1735.(505) 795-1735.
ClaimingClaiming the Credit:Oncethe Credit:approved, the credit may be applied against a maximum of 85% of a taxpayer's gross receipts, 
compensating and then withholding tax liability.When                              claiming an investment credit on Form CRS-1 returnFormFormWhenRPD-41212RPD-41212claiming, an,                                                                         investment credit on Form CRS-1 return 
Investment Credit Claim FormInvestment Credit Claim Form must be submitted with the return. must be submitted with the return.
AboutAbout this credit:this  Thecredit:Investment Credit Act provides a credit for certain equipment purchased or brought into New Mexico 
in connection with a manufacturing operation. The credit does have a specific employment requirement that is associated 
with the cost of the equipment being claimed. Legislative changes made throughout the years are seen below. The require-
ments are based upon the day the taxpayer applies for the credit. The date the taxpayer applies for the credit is the date of 
the postmark, if mailed.
Employment requirements: The employees used to meet the employment requirement for this claim cannot have been 
counted toward the employment requirement for any prior claim and must be in addition to the number of full-time employees 
employed on the day one year prior to the day on which the taxpayer applied for the credit. (Certain employees hired solely 
for purposes of training may qualify even if hired more than one year prior to the date of the claim. See Section 7-9A-7.1(C), 
NMSA 1978.)
For applications submitted on or after June20,                               2003 but before July 1, 2020:
1)  You must have employed one additional full-time employee for every $500,000 (or portion of that amount) in value of 
     qualified equipment for which the credit is claimed on the application, up to a value of $30 million, and
2)  You must have employed one additional full-time employee for every $1,000,000 (or portion of that amount) in value of 
     qualified equipment over $30 million.
For applications submitted on or after July 1, 2020 but before July 1, 2030:
1)  You must have employed one additional full-time employee for every $750,000 (or portion of that amount) in value of 
     qualified equipment for which the credit is claimed on the application, up to a value of $30 million, and
2)  You must have employed one additional full-time employee for every $1,000,000 (or portion of that amount) in value of 
     qualified equipment over $30 million.
Example: If you apply for the investment credit on qualified equipment with a value of $31,725,000, you must show that you 
have hired 62 additional full-time employees: 60 employees for the first $30 million; 1 employee for the next $1,000,000; 1 
employee for the remaining $725,000.
Credit calculation: PriorPrior to July 1, 2020, the credit is equal to 5.125% of the value of certain equipment purchased or brought to July 1, 2020, the credit is equal to 5.125% of the value of certain equipment purchased or brought 
into New Mexico in connection with a manufacturing operation.into New Mexico in connection with a manufacturing operation.
However,However  starting July 1, 2020: , starting July 1, 2020: 
            (1) If the qualified equipment was subject to compensating tax in New Mexico, the credit is equal to 5.125% of the (1) If the qualified equipment was subject to compensating tax in New Mexico, the credit is equal to 5.125% of the 
value of the qualified equipment;value of the qualified equipment;
            (2) If the qualified equipment sale was subject to gross receipts tax in New Mexico, the credit is equal to the gross (2) If the qualified equipment sale was subject to gross receipts tax in New Mexico, the credit is equal to the gross 
receipts tax paid multiplied by the value of the qualified equipment; receipts tax paid multiplied by the value of the qualified equipment; oror
            (3) If the purchase of the qualified equipment was not subject to gross receipts tax or compensating tax, the credit (3) If the purchase of the qualified equipment was not subject to gross receipts tax or compensating tax, the credit 
is equal to 5.125% of the value of the qualified equipmentis equal to 5.125% of the value of the qualified equipment
AboutAbout the Application:the  TheApplication:application must be completed in full and the additional documentation identified in Section 4 The application must be completed in full and the additional documentation identified in Section 4 
onon thethe nextnext pagepage mustmust bebe providedprovided withwith thethe application.application. The instructions for this application start on page 5.The instructions for this application start on page 5.
  SECTION 1: Identifying Information
  Name:                                                                                                             New Mexico CRS identification number:

  Physical Address:                                                                                                 City:                       State        Zip Code:

  Mailing Address:                                                                                                  City:                       State:       Zip Code:

  Name of Contact:                                                                                                  E-mail Address:             Phone Number:

                                                                                                                    1

RPD-41167                         New Mexico Taxation and Revenue Department
Rev 07/01/2020
                          APPLICATION FOR INVESTMENT CREDIT
SECTION 2: Qualifying Information
1. Description of your manufacturing operation:                                                                                                                                 
                                                                                                                                                                                                         
2. Qualified Equipment (7-9A-6) - check yes or no for 2a through 2f                                              YES   NO
     2a. Was the qualified equipment previously used in New Mexico?
     2b. Was the qualified equipment previously approved for a credit under the Investment Credit Act?
     2c. Was the qualified equipment owned by the taxpayer (listed above)?
     2d. Was the qualified equipment owned by the United States, the State of New Mexico or a political
           subdivision thereof and leased or subleased to the taxpayer?
     2e. Was the qualified equipment incorporated into the taxpayer's manufacturing operation within one
            year of being introduced into New Mexico?
     2f. If the qualified equipment was subject to compensating tax, was the credit under Section 7-9-79
          NMSA 1978 claimed against the compensating tax due?
3. Employment requirements (7-9A-7) - check yes or no for 3a through 3b                                          YES   NO
     3a. Were any of the employees counted for this application to meet the employment requirement 
           counted for a prior Investment Credit claim with the Department?
     3b. Were all of the employees counted employed for one year prior to the date of this claim? 

SECTION 3: Calculation of Credit Claimed
1. Enter the Total Amount of Credit Claimed (From Schedule B, pg 4)
2. Enter the total number of new full-time employees hired (Itemized on Schedule A, pg 3)
SECTION 4: Additional Documentation Checklist
1.Schedule    A (page 3) or excel document in the Schedule Aformat;
2.Schedule    B (page 4) or excel document in the Schedule B format;
3.Form    ACD-31102, Tax Information Authorization Tax Disclosure(if anyone other than the qualifying 
taxpayer is applying for this credit on behalf of the taxpayer);
4. Invoices for the purchase of each piece of qualified equipment;
5. Federal Form 4562, Depreciation and Amortization Schedule and a detailed depreciation work-
sheet that is reconciled with Federal Form 4562;
6. Payroll register for all New Mexico employees listing hours worked for the pay period ending on the 
date the application was submitted or post marked, as well as, the pay period one year prior to the 
submission or post marked date;
NOTE: Additional Information may be requested to complete the review as outlined in Section 7-1-10(F) NMSA 1978.
Under penalty of perjury and subject to the applicable penalty outlined in Section 7-9G-1(L) NMSA 1978. I declare I have examined this 
application, including accompanying invoices, schedules and/or statements, and to the best of my knowledge and belief this application 
is true, correct and complete.

Printed Name:                                                     Title:       

Signature*:                                                       Date:       

*This application must be signed by a corporate officer, partner, or fiduciary who has been previously identified as such to the Depart-
ment or an authorized individual representative with the authority to receive Federal and State confidential information in behalf of the 
taxpayer.
Application Submission: The completed application, Form RPD-41167, Application for Investment Credit and all supporting
documentation can be submitted by:
     •    Uploading to the applicants Taxpayer Access Point (TAP);
     •    Emailing to the TRD-BusinessCredit@state.nm.us; or
     •    Mailing to the New Mexico Taxation and Revenue Department, Business Credits, P.O.Box 8485, Albuquerque,
          NM 87198-8485.
                                                                2

RPD-41167
Rev 07/01/2020
                            New Mexico Taxation and Revenue Department

              APPLICATION FOR INVESTMENT CREDIT
                                       SCHEDULE A
For the New Mexico Taxation and Revenue Department to verify that employment requirements for claiming the investment 
credit are met, please provide the following information for each new employee.  (Attach additional sheets or an excel docu-
ment in the same format, if necessary.)

                                                                     Is this individual
                                                                                          Hours per 
              Employee Name Social Security Number  Date Hired       currently employed 
                                                                                          week
                                                                     with you? [Yes or No]
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
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13.
14.
15.
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24.
25.
26.
27.
28.
29.
30.
                                                                     Total Hours Per Week
                                                                     Divided by 40

                                                   3

RPD-41167
Rev 07/01/2020
                              New Mexico Taxation and Revenue Department 

                        APPLICATION FOR INVESTMENT CREDIT
                               SCHEDULE B
For the New Mexico Taxation and Revenue Department to verify that the qualified equipment requirements for claiming the 
investment credit are met, please provide the following information for each piece of qualified equipment.  (Attach additional 
sheets or an excel document in the same format, if necessary.)
              Qualified Asset  Date purchase or   Value of the  Tax Rate        Amount of Credit 
         Equipment      Number introduction into  Equipment      (%)            Claimed
              A         B      New Mexico                     D E               [D X E = F]
                               (mm/dd/yyyy)                                     F
                               C
1.
2.
3.
4.
5.
6.
7.
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13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
                                                                Total amount of 
                                                                credit claimed:

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RPD-41167
Rev 07/01/2020
                                                     New Mexico Taxation and Revenue Department

                                            APPLICATION FOR INVESTMENT CREDIT
                                                                                      INSTRUCTIONS
SECTION 1: Identifying InformationSECTION 1: Identifying Information
EnterEnter the name, New Mexico CRS identification number, physical address, and mailing address for the taxpayer applying for the name, New Mexico CRS identification number, physical address, and mailing address for the taxpayer applying for 
thethe investment tax credit. Next, enter the name, e-mail address, and phone number of the individual who will be the contact investment tax credit. Next, enter the name, e-mail address, and phone number of the individual who will be the contact 
personperson for the investment tax credit that is being applied for. If this individual is not the taxpayer, a corporate officer, partner, for the investment tax credit that is being applied for. If this individual is not the taxpayer, a corporate officer, partner, 
oror fiduciary, or authorized representative that has been previously identified to the Department the individual will have to fiduciary, or authorized representative that has been previously identified to the Department the individual will have to 
completecomplete andand submitsubmit FormForm ACD-31ACD-31102102,,  TTax Information Authorization Tax Disclosureax  toto thetheInformationDepartment.Department.Authorization Tax Disclosure

SECTION 2: Qualifying InformationSECTION 2: Qualifying Information
Line 1: Briefly describe your manufacturing operation. 
             "manufacturing""manufacturing" means combining or processing components or materials, including recyclable materials, to in-means combining or processing components or materials, including recyclable materials, to in-
creasecreasetheir value for sale in the ordinary course of business, including genetic testing and production, but not including: (1) their value for sale in the ordinary course of business, including genetic testing and production, but not including: (1) 
construction;construction; (2) farming; (3) power generation, except for electricity generation at a facility other than one for which both (2) farming; (3) power generation, except for electricity generation at a facility other than one for which both 
locationlocation approval and a certificate of convenience and necessity are required prior to commencing construction or operation approval and a certificate of convenience and necessity are required prior to commencing construction or operation 
ofof the facility, pursuant to the Public Utility Act and the Electric Utility Industry Restructuring Act of 1999; or (4) processing the facility, pursuant to the Public Utility Act and the Electric Utility Industry Restructuring Act of 1999; or (4) processing 
natural resources, including hydrocarbons. natural resources, including hydrocarbons. 
             "manufacturing"manufacturing operation" means a plant, including a genetic testing and production facility, employing personnel to operation" means a plant, including a genetic testing and production facility, employing personnel to 
perform production tasks, in conjunction with equipment not previously existing at the site, to produce goods.perform production tasks, in conjunction with equipment not previously existing at the site, to produce goods.

Line 2 (2a through 2f): Qualified Equipment - Check either the yes or no column next to each question.
             "equipment""equipment" means an essential machine, mechanism or tool, or a component or fitting thereof, used directly and means an essential machine, mechanism or tool, or a component or fitting thereof, used directly and 
exclusivelyexclusively in a manufacturing operation and subject to depreciation for purposes of the Internal Revenue Code by the taxpayer in a manufacturing operation and subject to depreciation for purposes of the Internal Revenue Code by the taxpayer 
carryingcarrying on the manufacturing operation. "Equipment" does not include any vehicle that leaves the site of the manufacturing on the manufacturing operation. "Equipment" does not include any vehicle that leaves the site of the manufacturing 
operation for purposes of transporting persons or property or any property for which the taxpayer claims operation for purposes of transporting persons or property or any property for which the taxpayer claims 

Line 3 (3a through 3b): Employment Requirements - Check either the yes or no column next to each question.

SECTION 3: Calculation of Credit Claimed

Line 1: Enter the total amount of credit being claimed. This information is located at the bottom of the Schedule B on page 4.

Line 2: Enter the total number of full-time employees hired. This information should match the information provided on the  
Schedule A on page 3.

SECTION 4: Additional Documentation Checklist
This section is provided for you to check off the documents that will need to be submitted with you application in order to be 
considered complete. Note, the Department may ask for additional information if it is needed to complete a full review of the 
application to verify eligibility of the credit or the credit amount.

Line 1: Provide a completed Schedule A (page 3) or an excel document in the same format of that schedule.

Line 2: Provide a completed Schedule B (page 3) or an excel document in the same format of that schedule.

Line 3: If the individual that the Department is asked to contact is not the taxpayer, a corporate officer, partner, or fiduciary, the taxpayer, a corporate officer, partner, or fiduciary, 
oror authorized representative that has been previously identified to the Department the individual will have to complete and authorized representative that has been previously identified to the Department the individual will have to complete and 
submitsubmit FormForm ACD-31ACD-31102102,,  TTax Information Authorization Tax Disclosureax  toto thetheInformationDepartment.Department.Authorization Tax Disclosure

Line 4: Copies of the invoices for each piece of qualified equipment that you are claiming the investment tax credit for will 
need to be submitted to the Department.

Line 5:Federal              Form 4562         ,Depreciation and Amortization Schedule - To qualify for the credit, equipment must be subject 
to depreciation for purposes of the Internal Revenue Code. A copy of a depreciation schedule that can be reconciled to your 
Federal Form 4562 and that contains a detailed description of the equipment for which the credit is claimed must accompany 
your application. If you have not filed a federal income tax return since the date the equipment was acquired, provide a pro 
forma Form 4562 using the method you will use to calculate depreciation for federal income tax purposes. 

                                                                                      5

RPD-41167
Rev 07/01/2020
                          New Mexico Taxation and Revenue Department 

                        APPLICATION FOR INVESTMENT CREDIT
                                  INSTRUCTIONS CONTINUED
Line 6: Payroll register for all New Mexico employees for the pay period ending on the date that the application is submitted 
or postmarked and for the pay period one year prior to the submission or postmarked date. This register must include the 
employees listed on the Schedule A and the hours worked for that pay period.

Printed Name, Title, Signature, and Date:
The application must be signed by a corporate officer, partner, or fiduciary that has previously been identified to the Depart-
ment. By signing this application you are certifying that this application is true, correct, and complete.

SCHEDULE A: Employment Requirements
For each row, enter the name of the employee, their social security number, the date they were hired (mm/dd/yyyy), enter 
yes or no for if the individual is currently still employed with you at the time of this application, and the average hours per 
week worked.

At the end of the spreadsheet total the hours per week worked by all employees and divide that number by 40.

SCHEDULE A: Qualified Equipment Requirements
For each row, enter the following information:

Column A -Qualified Equipment - Enter a brief description of the equipment

Column B - Asset Number - Enter the asset number associated with that piece of qualified equipment.

Column C- Date of purchase or introduction into New Mexico - Enter the date (mm/dd/yyyy) that the equipment was 
purchased or introduced into New Mexico. 

Column D - Value of the Equipment - Use the equipment's adjusted basis for federal income tax purposes as reflected in 
the depreciation schedule filed with your federal income tax return. If you have not filed a federal income tax return since 
the date the equipment was acquired, establish the adjusted basis you will use to calculate depreciation for federal income 
tax purposes. You may be asked to provide the Department with a copy of your federal depreciation schedule at the time it 
is filed with the IRS. The value of qualified equipment shall be adjusted basis established under the applicable provisions of 
the Internal Revenue Code of 1986 (Section 7-9A-7 NMSA 1978).

Column E - Tax Rate - Enter the tax rate paid on the equipment. If the equipment was purchased from outside of the state 
of New Mexico and compensating tax was paid on the purchase enter 5.125%. If the piece of equipment was purchased 
inside of New Mexico enter the tax rate that was paid on the equipment. If the equipment was not subject to gross receipts 
tax or compensating tax enter 5.125%.

Column F - Amount of Credit Claimed - Multiply column D by Column E to get the amount of credit that is eligible for the 
investment tax credit if the employment requirement is fulfilled.

                                              6