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Form Rpd-41346 - New Mexico Geothermal Ground-Coupled Heat Pump Tax Credit Claim Form Page 3

State of New Mexico - Taxation and Revenue Department

RPD-41346

Rev. 08/27/2014

GEOTHERMAL GROUND-COUPLED HEAT PUMP TAX CREDIT CLAIM FORM

Schedule A

Schedule A Instructions

For each geothermal ground-coupled heat pump tax credit approved by the New Mexico Energy, Minerals and Natural

Resources Department (EMNRD) complete a row in Schedule A. Do not include credits approved in a tax year that is more

than eleven years prior to the tax year for which this claim is filed. Unused geothermal ground-coupled heat pump tax

credits may not be carried forward for more than ten consecutive tax years following the tax year for which the credit was

approved. Do not include credits which have been claimed in full in prior tax years.

Only the person to whom the certificate of eligibility is issued may claim the credit.

COLUMN INSTRUCTIONS

(a) Project number. Enter the project number shown on the credit approval document for the geothermal ground-coupled

heat pump tax credit issued to you by EMNRD.

(b) Year of approval. Enter the tax year for which the geothermal ground-coupled heat pump tax credit has been approved

as indicated on the certificate of eligibility.

(c) Amount of credit approved. For each project listed, enter the amount of credit approved as indicated on the certificate

of eligibility.

(d) Total credit claimed in previous tax years. For each credit amount listed, enter the total amount of credit claimed in

all tax years prior to the current tax year.

(e) Unused credit. For each credit, subtract the amount in column (d) from the amount in column (c).

(f) Applied to the attached return. For each credit, enter in column (f) the amount that is applied to the attached New

Mexico income tax return.

When calculating the amount in column (f), apply the following rules:

Applying credits: Apply the geothermal ground-coupled heat pump tax credit in the order that the credit is approved.

•

If you have both a carry-forward credit and new credit derived from a certified geothermal ground-coupled heat pump

during the current tax year, apply the carry-forward credit against the income tax liability first.

The maximum amount of credit claimed in a tax year. The sum of tax credits applied to the tax due on the return

•

may not exceed the income tax claimed on the New Mexico income tax return. That amount is the net New Mexico

income tax calculated before applying any tax credits claimed.

Form Rpd-41346 - New Mexico Geothermal Ground-Coupled Heat Pump Tax Credit Claim Form Page 3