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New Mexico

New Mexico

Incentives/Policies for Renewables & Efficiency

Printable Version
Gross Receipts Tax Exemption for Sales of Wind and Solar Systems to Government Entities   

Last DSIRE Review: 08/06/2014
Program Overview:
State: New Mexico
Incentive Type: Sales Tax Incentive
Eligible Renewable/Other Technologies: Solar Thermal Electric, Photovoltaics, Wind
Applicable Sectors: Local Government, Construction, State Government, Installer/Contractor, Fed. Government, Retail Supplier
Amount:100%
Web Site: http://www.emnrd.state.nm.us/ECMD/CleanEnergyTaxIncentives/GRTExe...
Authority 1:
Date Enacted:
N.M. Stat. ยง 7-9-54.3
2002 (subsequently amended)
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.


 
Contact:
  Vincent Barrera
New Mexico Energy, Minerals and Natural Resources Department
Energy Conservation and Management Division
Phone: (505) 476-3323
E-Mail: Vincent.Barrera@state.nm.us
Web Site: http://www.emnrd.state.nm.us/ecmd/
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.