Form Rpd-41288 - Application For High Wage Jobs Tax Credit (Page 4 of 5) in pdf

STATE OF NEW MEXICO

RPD-41288

Rev 09/10/2013

TAXATION AND REVENUE DEPARTMENT

Page 3 of 4

APPLICATION FOR HIGH WAGE JOBS TAX CREDIT

Eligible employee means a n i ndividual who is e mployed in New

Wages means all compensation paid by an eligible employer

INSTRUCTIONS

Mexico by an eligible employer and who is a resident of New

to an eligible employee through the employer's payroll system,

Mexico. Eligible employee does not include an individual who:

including those wages that the employee elects to defer or

a. bears any of the relationships described in Paragraph

redirect or the employee's contribution to a 401(k) or cafete-

(1) through (8) of 26 U.S.C. Section 152(a) to the employer or if

ria plan program, but wages does not include benefits or the

the e mployer i s a c orporation t o a n i ndividual w ho o wns, d irectly

employer's share of payroll taxes.

or indirectly, more than 50% in value of the outstanding stock

Benefits means all remuneration for work performed that is

of the corporation or, if the employer is an entity other than a

provided to an employee in whole or in part by the employer,

corporation to an individual who owns, directly or indirectly,

other than wages, including insurance programs, health care,

more than 50% of the capital and profits interest in the entity;

medical, dental and vision plans, life insurance, employer

b. if the employer is an estate or trust, is a grantor, ben-

contributions to pensions, such as a 401(k), and employer-

eficiary or fiduciary of the estate or trust or is an individual

provided services such as childcare, offered by an employer to

who bears any of the relationships described in Paragraphs (1)

the employee. Benefits does not include the employer's share

through (8) of 26 U.S.C. Section 152(a) to a grantor, beneficiary

of payroll taxes, social security, or medicare contributions,

or fiduciary of the estate or trust;

federal or state unemployment insurance contributions

c. is a dependent, as that term is described in 26 U.S.C.

or workers' compensation.

Section 152(a)(9), of the employer or if the taxpayer is a corpo-

Modified combined tax liability means the total liability

ration of an individual who owns, directly or indirectly, more

than 50% in value of the outstanding stock of the corporation

for the reporting period for the gross receipts tax imposed by

Section 7-9-4 NMSA 1978 together with any tax collected at

or, if the employer is an entity other than a corporation, of an

the same time and in the same manner as the gross receipts

individual who owns, directly or indirectly, more than 50% of

tax, such as the compensating tax, the withholding tax, the

the capital and profits interest in the entity or, if the employer

is an estate or trust of a grantor, beneficiary or fiduciary of the

interstate telecommunications gross receipts tax, the sur-

charges imposed by Section 63-9D-5 NMSA 1978 and the

estate or trust; or

surcharge imposed by Section 63-9F-11 NMSA 1978, minus the

d. is working or has worked as an employee or as an in-

amount of any credit other than the high wage jobs tax credit

dependent contractor for an entity that, directly or indirectly,

applied against any or all of these taxes or surcharges; but

owns stock in a corporation of the eligible employer or other

modified combined tax liability excludes all amounts collected

interest of the eligible employer that represents 50% or more

with respect to local option gross receipts taxes.

of the total voting power of that entity or has a value equal to

50% or more of the capital and profits interest in the entity.

assistance. If you are certified for JTIP assistance, you may

Qualifying period means the 12 months beginning on the

Certification for Job Training Incentive Program (JTIP)

also qualify as an eligible employer for purposes of the high

day an eligible employee begins working in a new high wage

wage jobs tax credit. For information on becoming certified for

economic based job, or 12 months beginning on the anniversary

JTIP assistance, visit the New Mexico Economic Development

of the day an eligible employee began working in a new high

Department's web page, , or call (505) 827-0300

wage economic based job.

or (800) 374-3061 .

RPD-41367 - EMPLOYEE ELIGIBILITY DETAIL REPORT

H, subsequent rows will self-populate with the information

A CD containing the excel spreadsheet, RPD-41376, High

INSTRUCTIONS

provided in the first row, . The information contained in these

wage Jobs Tax Credit - Employee Eligibility Detail Report, must

rows should match the information for the eligible employer

accompany your submission of Form RPD-41288, Application

that is on Form RPD-41288, Application for High wage Jobs

Revenue Department. Form RPD-41376, High wage Jobs Tax

for High wage Jobs Tax Credit, to the New Mexico Taxation and

Tax Credit.

website,

ww.tax.newmexico.gov. D ownload F orm R PD-41376

Credit - Employee Eligibility Detail Report, can be found on our

from the website, complete all information requested and copy

Column B: Enter employer's New Mexico CRS identification

Column A: Enter the name of the eligible employer.

the spreadsheet to a CD to be attached to the application. Refer

number.

to column instructions listed below.

Column C: Enter employer's federal employer identification

number (FEIN).

COLUMNS A THROUGH G

G once. When you enter the employee's last name in column

NOTE: You only need to enter the data in columns A through

Column D: Enter 'yes' or 'no' if the applicant employer made

Form Rpd-41288 - Application For High Wage Jobs Tax Credit Page 4

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