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INCENTIVE DESCRIPTION
| State: | NM |
| Incentive Type: | Income/Franchise Tax Incentives and Credits |
| Incentive Title: | Factor Relief |
| Description: | DOUBLE WEIGHT SALES FACTOR: New Mexico taxes the total corporate income times the average proportion of sales, payroll and property in New Mexico. The three factors have equal weight in the formula. For a limited time (through the year 2010) manufacturers may elect to use a modified formula which gives the sales factor a 50 percent weight, reducing the other two to 25 percent apiece. |
| Eligibility Requirements: | Must be a qualified manufacturer, must complete all required applications. The taxpayer, having elected to use the double-weighted formula, must use it for at least three consecutive years. |
| Geographic Restrictions: | Statewide |
| Granting Authority: | State of New Mexico |
| The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com |
Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives. |
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