Form Rpd-41334 - Advanced Energy Tax Credit Claim Form Page 2
Download a blank fillable Form Rpd-41334 - Advanced Energy Tax Credit Claim Form in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form Rpd-41334 - Advanced Energy Tax Credit Claim Form with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4State of New Mexico - Taxation and Revenue Department
RPD-41334
Rev 06/25/2013
ADVANCED ENERGY TAX CREDIT CLAIM FORM
INSTRUCTIONS
HOW TO APPLY FOR THIS CREDIT: A qualified generating
is located in a municipality, and 5% of the gross receipts if
facility or an interest owner, on behalf of the qualified gen-
the taxpayer’s business location is anywhere else within or
erating facility, must apply for a certificate of eligibility from
outside New Mexico.
the New Mexico Environment Department (NMED) before
To claim approved advanced energy tax credit against Form
applying to obtain approval to claim the advanced energy tax
PIT-1, attach a completed Form RPD-41334, Advanced En-
credit (advanced energy income tax credit, advanced energy
ergy Tax Credit Claim Form, to Form PIT-1, New Mexico
corporate income tax credit and the advanced energy com-
Personal Income Tax Return or to Form FID-1, New Mexico
bined reporting tax credit). NMED determines if the facility is a
Fiduciary Income Tax Return. Enter the amount of credit
qualified generating facility and issues a certificate within 180
claimed against the current return on Schedule PIT-CR or
FID-CR. Do not claim more credit than the tax due shown
days after receiving all information necessary to determine
on Form PIT-1 or FID-1. A husband and wife who file sepa-
eligibility. Fees imposed by NMED will apply, but may not
rate returns for a tax year in which they could have filed a
exceed $150,000. For assistance in obtaining a certificate of
joint return may each claim only one-half of the advanced
eligibility and applicable fees, call (505) 476-4334.
energy income tax credit that would have been allowed on
Once NMED issues a certificate, the claimant may submit a
a joint return.
completed Form RPD-41333, Advanced Energy Tax Credit
To claim approved advanced energy tax credit against
Application, to the New Mexico Taxation and Revenue Depart-
Forms CIT-1 or S-Corp, attach a completed Form RPD-
ment (TRD) for approval. The certificate of eligibility must be
41334, Advanced Energy Tax Credit Claim Form, to Form
attached to the application, along with information required
CIT-1, New Mexico Corporate Income and Franchise Tax
to determine the amount of allowable advanced energy tax
Return, or to Form S-Corp, New Mexico Sub-Chapter S
credits. The application must be submitted within one year
Corporate Income Tax Return. Enter the amount of credit
following the end of the calendar year in which the eligible
claimed against the current return on Schedule CIT-CR or
generation plant costs are incurred. TRD will issue an ap-
S-Corp-CR. Do not claim more credit than the corporate
proval for the credit, and the claimant may then use Form
income tax due on Form CIT-1, or more than the corporate
RPD-41334, Advanced Energy Tax Credit Claim Form, to
income tax due on Form S-Corp. The credit cannot be ap-
plied against any franchise tax due.
claim the credit against personal or corporate income taxes,
and gross receipts, compensating and withholding tax due
Mail the return and the claim form, RPD-41334, to the ad-
to the State of New Mexico.
dress on the Form CRS-1, CIT-1, S-Corp or FID-1 to which
you wish to apply the credit. For assistance call (505) 476-
HOW TO CLAIM THIS CREDIT: To claim approved ad-
3683.
vanced energy tax credits you must attach a completed
Form RPD-41334, Advanced Energy Tax Credit Claim
RECAPTURE: If NMED issues a certificate of eligibility to
Form, to the return to which you wish to apply the credit.
a taxpayer stating that the facility is a qualified generating
The credit may not exceed the tax liability due on the return.
facility and the taxpayer does not sequester or control car-
Excess advanced energy tax credits can then be carried for-
bon dioxide emissions to the extent required by January 1,
ward for up to 10 years and can be applied to any combina-
2017, or 18 months after the commercial operation date of
tion of personal or corporate income tax, gross receipts tax,
the qualified generating facility, the taxpayer’s certification as
compensating tax or withholding tax due the claimant.
a qualified generating facility shall be revoked by NMED and
the taxpayer shall refund to the state tax credits granted. If
To claim approved advanced energy tax credit against the
the taxpayer demonstrates to the New Mexico Environment
CRS-1 return, you must file the full-page version of the New
Department that the taxpayer made every effort to sequester
Mexico CRS-1 Form. Complete the CRS-1 Long Form and
or control carbon dioxide emissions to the extent feasible and
supplemental forms, if any, according to the instructions.
the facility’s inability to meet the sequestration requirements
Do not reduce the tax liability on the CRS-1 Long Form to
of a qualified generating facility was beyond the facility’s
reflect the advanced energy tax credit claimed. Instead, un-
control, NMED shall determine, after a public hearing, the
derpay the tax liability shown on the return by the amount
amount of the tax credit that should be refunded. NMED, in
of tax credit claimed and attach a completed Form RPD-
its determination, shall consider the environmental perfor-
41334, Advanced Energy Tax Credit Claim Form. Do not
mance of the facility and the extent to which the inability to
enter a negative number or claim more credit than the tax
meet the sequestration requirements of a qualified generat-
due shown on the CRS-1 Long Form for the current report
ing facility was in the control of the taxpayer. The refund, as
period. When computing the amount of advanced energy
determined by NMED, shall be paid within 180 days following
combined reporting tax credit that may be claimed against
a final order by NMED.
the gross receipts reported on a return, compute the credit
at 3.775% of the gross receipts if the taxpayer’s business
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form Rpd-41334 - Advanced Energy Tax Credit Claim Form - State Of New Mexico Taxation And Revenue Department
Financial
Form Rpd-41333 - Advanced Energy Tax Credit Application/notice Of Allocation Of Right To Claim Advanced Energy Tax Credits
Financial
Related Categories
Parent category: Financial