Form Rpd-41288 - Application For High Wage Jobs Tax Credit (Page 3 of 5) in pdf

STATE OF NEW MEXICO

RPD-41288

Rev 09/10/2013

TAXATION AND REVENUE DEPARTMENT

APPLICATION FOR HIGH WAGE JOBS TAX CREDIT

Page 2 of 4

INSTRUCTIONS

and $40,000 if the job is performed or based anywhere else

page, w ww.gonm.biz, o r c all ( 505) 8 27-0300 o r ( 800) 3 74-3061 .

in the state.

A new high wage economic based job means a job created in

New Mexico by an eligible employer on or after July 1, 2004 and

The high wage jobs tax credit may be claimed by an eligible em-

prior to July 1, 2020, that is occupied for at least 48 weeks of a

ployer for each new high wage economic based job performed

qualifying period by an eligible employee who is paid wages

for the year in which the new high wage economic job is created

calculated for the qualifying period to be at least:

and for the three consecutive qualifying periods.

A new high wage economic based job shall not be eligible for

a high wage jobs tax credit unless the eligible employer's total

For a new high wage economic based job created prior to

$40,000 if the job is performed or based in or within

number of employees with high wage economic based jobs on

July 1, 2015:

10 miles of the external boundaries of a municipality

the last day of the qualifying period at the location at which the

with a population of 60,000 or more according to the

job is performed or based is at least one more than the number

most recent federal decennial census or in a class H

on the day prior to the date the new high wage economic based

county; and

job was created.

b. $28,000 if the job is performed or based in a munici-

pality with a population of less than 60,000 accord-

A new high wage economic based job shall not be eligible for a

ing to the most recent federal decennial census or in

credit pursuant to this section if:

the unincorporated area, that is not within ten miles

1. the new high wage economic based job is created due to

of the external boundaries of a municipality with a

a business merger or acquisition or other change in busi-

population of 60,000 or more, of a county other than

ness organization;

a class H county;

2. the eligible employee was terminated from employment

in New Mexico by another employer involved in the busi-

The qualified job must be occupied for at least 48 weeks during

ness merger or acquisition or other change in business

a qualifying period, and an eligible employee must be paid at

organization with the taxpayer; and

least $40,000 if the job is performed or based:

3. the new high wage economic based job is performed by:

•

in or within 10 miles of the exterior boundry of Albuquer-

a. the person who performed the job or its functional

que, Las Cruces, Rio Rancho, or the city of Santa Fe, or

equivalent prior to the business merger or acquisition

•

in the county of Los Alamos,

or other change in business organization; or

and $28,000 if the job is performed or based anywhere else

b. a person replacing the person who performed the

in the state.

job or its functional equivalent prior to a business

merger or acquisition or other change in business

organization.

For a new high wage economic based job created on or

$60,000 if the job is performed or based in or within

If, however, a new high wage economic based job was created

after July 1, 2015:

ten miles of the external boundaries of a municipality

by another employer and for which an application for the high

with a population of 60,000 or more according to the

wage jobs tax credit was received and is under review by the

most recent federal decennial census or in a class H

Taxation and Revenue Department prior to the time of the

county; and

business merger or acquisition or other change in business or-

b. $40,000 if the job is performed or based in a munici-

ganization, the employer shall remain eligible for the high wage

pality with a population of less than sixty thousand

jobs tax credit for the balance of the qualifying periods. The new

according to the most recent federal decennial census

employer that results from a business merger or acquisition or

or in the unincorporated area, that is not within then

other change in business organization may only claim the high

miles of the external boundaries of a municipality

wage jobs tax credit for the balance of the qualifying period for

with a population of 60,000 or more, of a county other

which the qualifying job is otherwise eligible.

than a class H county.

A job shall not be eligible for a credit pursuant to this section

The qualified job must be occupied for at least 48 weeks during

if the job is created due to an eligible employer entering into a

a qualifying period, and an eligible employee must be paid at

contract or becoming a subcontractor to a contract with a gov-

least $60,000 if the job is performed or based:

ernmental entity that replaces one or more entities performing

•

in or within 10 miles of the exterior boundry of Albuquer-

functionally equivalent services for the governmental entity

que, Las Cruces, Rio Rancho, or the city of Santa Fe, or

unless the job is a new high wage economic based job that was

•

in the county of Los Alamos,

not being performed by an employee of the replaced entity.

Form Rpd-41288 - Application For High Wage Jobs Tax Credit Page 3

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