New Mexico · Investment / Equipment · NM-INV-001
Investment Credit
Publication revised September 24, 2026. Sourcebook page 195.
Credit amount / calculation
Credit based on the value of qualified equipment introduced into New Mexico, with employment/payroll tests.
Business fit and eligible activity
Broad credit for qualifying manufacturing equipment; highly relevant to fixed mills. Qualified investment or approved project activity; confirm eligible property, location and taxpayer type.
Illustrative business benefit
A sawmill is replacing a headrig and adding scanning, material handling, and electrical controls in a project of roughly $2 million. The credit calculation would be based only on the costs the program recognizes as qualified investment. Before issuing purchase orders, the mill should obtain a written view on whether installation, electrical work, used equipment, and software are included. Technology Jobs and Research and Development Tax Credit Page
Timing / first action
Tax-year claim: document the eligible expense, hire or placed-in-service date and meet any separate certification deadline. Get a written answer on which property is qualified - especially buildings, installation, software, used equipment, vehicles, and mobile machinery.
Official sources
- New Mexico TRD - Business Tax Credits (newmexico.gov)
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