N.M. Admin. Code § 3.4.24.9

Current through Register Vol. 35, No. 21, November 5, 2024

Section 3.4.24.9 - TAX CREDIT ADMINISTRATION

A. A taxpayer may apply for a clean car income tax credit from the energy, minerals, and natural resources department on an electronic form and in the manner prescribed by that department. The department will not accept paper applications or applications submitted by e-mail unless specifically authorized by the division.

B. An application package for a clean car charging unit shall include a completed clean car charging unit corporate income tax credit electronic application and all required documents attachments.

(1) Partial applications will not be accepted.

(2) After the department has certified an application, applicants may not amend the certified application package to seek additional credits for that charging unit.

(3) If there are multiple owners of a clean car motor vehicle charging unit, they must submit a joint application.

C. If the energy, minerals, and natural resources department determines that the taxpayer meets the requirements for a clean car charging unit tax credit, the department shall issue a certificate of eligibility to the taxpayer providing the amount of tax credit for which the taxpayer is eligible and the taxable year in which the credit may be claimed.

(1) If an inspection is required for the charger, the final passing inspection date will determine tax year eligibility.

(2) If an inspection is not required for the charger, the date of purchase or installation will determine tax year eligibility, whichever comes later.

N.M. Admin. Code § 3.4.24.9

Adopted by New Mexico Register, Volume XXXV, Issue 17, September 10, 2024, eff. 9/10/2024