Form Rpd-41227 - Renewable Energy Production Tax Credit Claim Form Page 4
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5RPD-41227
Rev. 10/11/2012
State of New Mexico - Taxation and Revenue Department
RENEWABLE ENERGY PRODUCTION TAX CREDIT
CLAIM FORM INSTRUCTIONS
Page 2 of 3
the first 200,000 megawatt hours of electricity produced by
credit by submitting to TRD, a completed Form RPD-41227,
the qualified energy generator in the applicable tax year fol-
New Mexico Renewable Energy Production Tax Credit Claim
lowing the day the qualified energy generator first produces
Form, the certificate of eligibility issued by EMNRD, the
electricity.
Allocation Notice approved by EMNRD, if applicable, and
documentation of the amount of electricity produced by the
Tax Credit per kilowatt hour
Tax year
facility in the tax year. TRD may require additional information
$.015
1st
to verify eligibility. If the requirements have been complied
$.02
2nd
with, TRD shall approve the renewable energy production
$.025
3rd
tax credit and apply the credit as indicated on the claim form.
$.03
4th
$.035
5th
The credit may be deducted from a taxpayer's New Mexico
$.04
6th
corporate or personal income tax liability for the tax year for
$.035
7th
which the credit is claimed. If the amount of tax credit exceeds
$.03
8th
$.025
9th
the taxpayer's personal or corporate income tax liability for
$.02
10th
the tax year:
(1) the excess may be carried forward for a period of 5 tax
The total renewable energy tax credit allowed by all claimants
years; or
may not exceed the limits set for the renewable energy tax
(2) if the tax credit was issued with respect to a qualified
credit allowed for the qualified energy generator. Credit may
energy generator that first produced electricity using a
not be claimed with respect to the same electricity produc-
qualified energy resource on or after October 1, 2007,
tion under both the Corporate Income Tax Act and Personal
the excess shall be refunded to the taxpayer.
Income Tax Act.
Renewable energy production tax credit approved to be
A facility's credit for a tax year is limited to the qualified an-
claimed for the current tax year must be applied first. If the
nual production potential of the generating facility as certified
credit amount approved to be claimed in a tax year is less
by EMNRD.
than the personal or corporate income tax liability for that
year, you may apply unused credit available for carry forward.
APPLYING FOR CERTIFICATION FROM EMNRD:
When applying unused credits available for carry forward,
EMNRD certifies the eligibility of an energy generator and
apply the oldest credit first.
the estimated annual production potential of the generating
facility. The facility's estimated annual production potential
Report the credit taken on the New Mexico personal income
limits the facility's energy production eligible for the tax credit
tax return, corporate income tax return or fiduciary income
for the tax year. The total amount of electricity that may be
tax return. Submit Form RPD-41227, New Mexico Renewable
produced annually by all qualified energy generators that
Energy Production Tax Credit Claim Form, and attachments
are certified may not exceed a total of two million megawatt
with your income tax return.
hours plus an additional 500,000 megawatt hours produced
by qualified energy generators using a solar light derived or
Once a taxpayer has been granted a renewable energy pro-
solar heat derived qualified energy resource. Applications will
duction tax credit for a given facility, that taxpayer shall be
be considered in the order received.
allowed to retain the facility's original date of application for
tax credits for that facility until either the facility goes out of
To obtain a certificate of eligibility and an Allocation Notice
production for more than 6 consecutive months in a year or
of the right to claim all or a portion of the renewable energy
until the facility's 10-year eligibility has expired.
production tax credit, if applicable, contact: New Mexico En-
ergy, Minerals and Natural Resources Department, Energy
IMPORTANT DEFINITIONS:
Conservation and Management Division, P.O. Box 6429, Santa
Biomass means organic material that is available on a renew-
Fe, NM 87504-6429, or call (505) 476-3319.
able or recurring basis, including:
(a) forest related materials, including mill residues, logging
Once the certificate of eligibility and any applicable alloca-
residues, forest thinnings, slash, brush, low commercial
tion notice is approved, you may apply for the renewable
value materials or undesirable species, salt cedar and
energy tax credit from the New Mexico Taxation and Revenue
other phreatophyte or woody vegetation removed from
Department (TRD), and claim the credit against personal or
river basins or watersheds and woody material harvested
corporate income tax liabilities due to the state.
for the purpose of forest fire fuel reduction or forest health
and watershed improvement;
HOW TO CLAIM THE CREDIT:
(b) agricultural related materials, including orchard trees, vine-
A taxpayer may claim the renewable energy production tax
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