Form Rpd-41333 - Advanced Energy Tax Credit Application Page 4
Download a blank fillable Form Rpd-41333 - Advanced Energy Tax Credit Application 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-41333 - Advanced Energy Tax Credit Application 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
4
5
6State of New Mexico - Taxation and Revenue Department
RPD-41333
Rev. 2/2/2012
ADVANCED ENERGY TAX CREDIT
INSTRUCTIONS
Page 1 of 3
HOW TO APPLY FOR THIS CREDIT: A qualified generating
or withholding tax for the same expenditures.
facility or an interest owner, on behalf of the qualified gen-
erating facility, must apply for a certificate of eligibility from
ALLOCATING THE RIGHT TO CLAIM THE CREDIT: A
the New Mexico Environment Department (NMED) before
taxpayer that holds interest in a qualified generating facility
applying to obtain approval to claim the advanced energy tax
may be allocated the right to claim the advanced energy tax
credit (advanced energy income tax credit, advanced energy
credit, without regard to the taxpayer’s relative interest in the
corporate income tax credit and the advanced energy com-
qualified generating facility if:
bined reporting tax credit). NMED determines if the facility is a
•
the business entity making the allocation provides notice
qualified generating facility and issues a certificate within 180
of the allocation and the taxpayer’s interest in the quali-
days after receiving all information necessary to determine
fied generating facility to the Department;
eligibility. Fees will apply, but may not exceed $150,000. For
•
allocations to the taxpayer and all other taxpayers allo-
assistance in obtaining a certificate of eligibility and applicable
cated a right to claim the credit does not exceed 100%
fees, call (505) 476-4334 or write:
of the credit allowed for the qualified generating facility;
and
New Mexico Environment Department
•
the taxpayer and all other taxpayers allocated a right to
Permit Programs Manager
claim the advanced energy tax credits collectively own
NMED Air Quality Bureau
at least 5% interest in the qualified generating facility.
1301 Siler Road, Bldg. B
Santa Fe, New Mexico 87507-3113
Taxpayers eligible to claim an advanced energy tax credit
holding less than 100% of the interest in the qualified gen-
Once NMED issues a certificate, the claimant may submit a
erating facility shall designate an individual to submit the
completed Form RPD-41333, Advanced Energy Tax Credit
application, the eligible generation plant costs incurred dur-
Application, to the Taxation and Revenue Department (TRD)
ing the calendar year and the relative interest of those costs
for approval. The certificate of eligibility must be attached to
attributed to each eligible interest holder. Any changes to the
the application, along with information required to determine
apportioned interest must be reported to the Department. To
the amount of allowable advanced energy tax credits. The
allocate the right to claim all or a portion of the advanced
application must be submitted within one year following the
energy tax credit, complete the Notice of Allocation of Right
end of the calendar year in which the eligible generation plant
to Claim Advanced Energy Tax Credits, attach it to Form
costs are incurred. TRD will issue an approval for the credit,
RPD-41333, Advanced Energy Tax Credit Application, and
and the claimant may then use Form RPD-41334, Advanced
attach proof that the transferee is eligible for the credit as a
Energy Tax Credit Claim Form, to claim the credit against
taxpayer holding an interest in the qualified generating facility.
personal or corporate income taxes, gross receipts, compen-
sating or withholding taxes due to the State of New Mexico.
ADVANCED ENERGY GROSS RECEIPTS AND COM-
PENSATING TAX DEDUCTION: An interest owner who
Documentation required to determine the amount of ad-
has been issued a certificate of eligibility from NMED, may
vanced energy tax credit allowed includes but is not limited to:
also be eligible to take a gross receipts or compensating tax
•
the certificate of eligibility issued by NMED;
deduction for purchases of eligible expenses for the qualified
•
a detailed schedule describing each qualified expen-
generating facility in lieu of claiming the Advanced Energy
diture and showing the date of purchase and amount
Tax Credit. See RPD-41349, Advanced Energy Deduction
expended;
Report, for more information.
•
a depreciation schedule that can be reconciled to the
HOW TO CLAIM THIS CREDIT: To claim approved ad-
schedule of qualified expenditures; and
vanced energy tax credits, you must attach a completed
•
copies of invoices to support the purchases.
Form RPD-41334, Advanced Energy Tax Credit Claim
You may be asked to provide the Department with a copy of
Form, to the return to which you wish to apply the credit.
your federal Form 4562 at the time it is filed with the Internal
The credit may not exceed the tax liability due on the return.
Revenue Service.
Excess advanced energy tax credits can then be carried
forward for up to ten years and can be applied to any com-
A taxpayer claiming the advanced energy tax credit is ineli-
bination of personal or corporate income tax, gross receipts
gible for credits pursuant to the Investment Credit Act or any
tax, compensating tax or withholding tax due the claimant.
other credit that may be taken against personal income tax,
corporate income tax, gross receipts tax, compensating tax
To claim approved advanced energy tax credit against the
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form Rpd-41333 - Advanced Energy Tax Credit Application/notice Of Allocation Of Right To Claim Advanced Energy Tax Credits
Financial
Form Rpd-41333 - Advanced Energy Tax Credit Application - State Of New Mexico Taxation And Revenue Department
Financial
Related Categories
Parent category: Financial