Looking for a New Mexico Tax Forms And Templates? Download it for free!

State of New Mexico - Taxation and Revenue Department

RPD-41319

Rev. 07/2011

AGRICULTURAL WATER CONSERVATION TAX CREDIT CLAIM FORM

INSTRUCTIONS

Page 2 of 2

Instructions for Schedule A - worksheet to compute the total excess credit available for carry forward

(a) Tax year of previous year’s credit. Enter the prior tax years for which an agricultural water conservation tax credit

has been approved. If additional space is needed, attach a schedule in the same format on a separate page. Do not make

an entry for a tax year for which the approved credit is no longer available for carry forward. Excess agricultural water

conservation tax credits may only be carried forward for five consecutive years following the tax year that the qualified

eligible expenses were incurred.

(b) Amount of credit approved. For each tax year listed in column (a), enter the amount of credit approved for that tax

year.

(c) Credit claimed against prior year tax liabilities. For each credit amount listed in column (b), enter the total amount

of credit applied to personal or corporate income tax liabilities on prior year returns.

(d) Excess credit available for carry forward. Subtract column (c) from column (b) and enter the difference.

Total excess credit available for carry forward. Enter the sum of all amounts in column (d). If supplemental pages are

attached, enter the sum of all amounts in column (d) from all pages. Also enter this amount on Line 2 of this form.

Line 1. Tax credits approved. Enter the agricultural water conservation tax credits approved for the tax year of the attached

return.

Line 2. Total excess credit available for carry forward. Enter the excess credit available for carry forward from Schedule

Line 3. Enter the sum of lines 1 and 2. This is the total agricultural water conservation tax credit available to be claimed

against the personal or corporate income tax liability due on the attached return.

Line 4. Enter the portion of available credit claimed on your attached personal or corporate income tax return.

Certifications

The taxpayer claiming the agricultural water conservation tax credit must certify that the applicable statements are true by

checking the boxes on Form RPD-41319 to claim the credit.

Sign and date the claim form.

The credit applied to the attached return cannot exceed the amount of personal or corporate income tax liability otherwise

due. You must apply credit approved to be claimed in the tax year first (Line 1). If the credit amount approved to be claimed

in a tax year is less than the personal or corporate income tax liability for that year, you may apply excess credit available

for carry forward (Line 2) next. When applying excess credits available for carry forward, apply the credit with the oldest

approval date first.

Attach Form RPD-41319, Agricultural Water Conservation Tax Credit Claim Form, to your personal or corporate income tax

return and mail to the address on the New Mexico income tax return. For assistance completing this form, call (505) 476-

3683.

Form Rpd-41319 - Agricultural Water Conservation Tax Credit Claim Form - State Of New Mexico Taxation And Revenue Department Page 3