You are here

Solar Energy Gross Receipts Tax Deduction

Eligibility 
Commercial
Construction
Installer/Contractor
Residential
Retail Supplier
Savings Category 
Photovoltaics
Solar Water Heat
Program Info
Start Date 

7/1/2007

State 
New Mexico
Program Type 
Sales Tax Incentive
Rebate Amount 

100% of gross receipts from sale and installation of solar energy systems

Provider 
New Mexico Energy, Minerals and Natural Resources Department

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. Revenue generated by the sale and installation of solar systems used to provide space heat, hot water or electricity to the property on which it is installed may be deducted from gross receipts before the gross receipts tax is calculated. Also covered are dark colored water tanks exposed to sunlight, including all equipment necessary for the installation and operation of the water tank as a part of the overall water system of the property; and a non-vented trombe wall, and all equipment necessary for the installation and operation of the trombe wall.

The seller must have a signed copy of [http://www.emnrd.state.nm.us/ECMD/CleanEnergyTaxIncentives/documents/RPD... Form RPD-41341] to claim the deduction, or other evidence acceptable to EMNRD that the service or equipment was purchased for the sole use of the sale and installation of a qualified energy system.

Click [http://www.emnrd.state.nm.us/ECMD/CleanEnergyTaxIncentives/documents/Sol... here] for more information.