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Last Updated March 11, 2021

Program Overview

Category:

Financial Incentive

State:

New Mexico

Incentive Type:

Sales Tax Incentive

Administrator:

New Mexico Taxation & Revenue Department

Start Date:

N/A

Expiration Date:

N/A

Web Site:

Applicable Sectors:

N/A

Eligible Renewable/Other Technologies:

N/A

Summary

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.