Form Cit-5 - New Mexico Qualified Business Facility Rehabilitation Credit - 2009
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1CIT-5
REV. 01/2009
NEW MEXICO QUALIFIED BUSINESS FACILITY REHABILITATION CREDIT
Name
Federal Employer Identification
CRS Identification Number
Number (FEIN)
Address
City / State / ZIP code
As provided by New Mexico Economic Development Department, Enterprise Zone Program Officer:
Date of project approval: ___________________________
Project approval number: ________________________
Date of credit approval: ____________________________
Amount of credit approval: $ _____________________
Has credit for this project been claimed in any other taxable year?
NO
YES
If YES, indicate year(s) ______________________________
If the owner of the project is a partnership, limited liability corporation, S corporation, joint venture or similar business as-
sociation, list each owner, the social security number or federal employer identification number, and ownership percentage
of each partner or member.
Name
SSN/FEIN
Ownership Percentage
a. _______________________________________ _
___________________________
__________________
b. _______________________________________
___________________________
__________________
c. _______________________________________
___________________________
__________________
d. _______________________________________
___________________________
__________________
1. Amount approved for credit this year .................................................................................. 1. $ ___________________
2. Amount approved for credit prior years ............................................................................... 2.
___________________
3. Total credit approved for this project (Line 1 plus Line 2) ................................................... 3.
___________________
4.
4. Multiply by............................................................................................................................
50%
5. Enter the product of line 3 x line 4 OR $50,000, whichever is less ..................................... 5.
___________________
This is the Maximum Qualified Business Facility Rehabilitation Credit Available.
6. Credit claimed in prior years ............................................................................................... 6.
___________________
7. Credit available this year (Line 5 minus Line 6) .................................................................. 7.
___________________
8. New Mexico liability (from Line 12, CIT-1 Form) ................................................................. 8.
___________________
Enter the lesser of Line 7 or Line 8 on Line 3, Schedule CIT-CR or PTE-CR
9. Credit available for carryover (Line 7 minus Line 8) ........................................................... 9.
___________________
NOTE: Failure to attach this form and the approval from the New Mexico Enterprise Zone
Program Officer to your income tax return will result in denial of the credit claimed.
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