Form RPD-41167 Application for Investment Credit

a Number of new full time employees hired (Itemize on Form RPD 41168 Schedule A) Address Adjusted and Approved in the amount of $ APPLICATION FOR NEW MEXICO INVESTMENT CREDIT Approved in the amount of $ Attach a detailed schedule showing the types of equipment the date placed in service and the depreciable basis for federal tax purposes Your detailed schedule must be reconciled to your attached copy of Federal Form 4562 ATTN: Director's Office Authorized Signature Title Date b Number of full time employees employed one year prior to the date of this claim: CALCULATION OF CREDIT CLAIMED Calendar year in which qualified equipment was purchased or introduced into New Mexico: City State ZIP Code Description of your manufacturing operation: Disapproved FOR DIVISION USE ONLY For the status of the credit application call (505) 841 6478 I declare I have examined this application including accompanying invoices schedules and/or statements and to the best of my knowledge and belief this application is true correct and complete I QUALIFYING INFORMATION III I CERTIFY THAT: INSTRUCTIONS Investment credit claimed (Line A x 5 125%) $ Line 1: Determine the calendar year in which the equipment was purchased or introduced into New Mexico by the date the equipment was first placed in service in New Mexico You must claim the investment credit within one year following the end of the calendar year in which the equipment is placed in service Line 2: To qualify for the credit equipment must be subject to depreciation for purposes of the Internal Revenue Code A copy of a depreciation schedule that can be reconciled to your Federal Form 4562 and that contains a detailed description of the equipment for which the credit is claimed must accompany your application If you have not filed a federal income tax return since the date the equipment was acquired provide a pro forma Form 4562 using the method you will use to calculate depreciation for federal income tax purposes Include copies of invoices to support your purchases Line 3: Briefly describe your manufacturing operation Note: Construction farming processing of natural resources and most power generation are not manufacturing and consequently do not qualify as manufacturing operations for purposes of the investment credit For the period July 1 2001 through May 14 2002 the statute defined manufacturing to include electricity generation at facilities in Chaves Eddy Lea Luna Roosevelt Curry Hidalgo and Rio Arriba counties Effective May 15 2002 manufacturing includes electricity generation at all New Mexico facilities that do not provide regulated retail services to New Mexico customers Line 4: To qualify for the credit you must meet certain employment requirements See the instructions for completing Form RPD 41168 Application for New Mexico Investment Credit Schedule A Line A: Use the equipment's adjusted basis for federal income tax purposes as reflected in the depreciation schedule filed with your federal income tax return If you have not filed a federal income tax return since the date the equipment was ac quired establish the adjusted basis you will use to calculate depreciation for federal income tax purposes You may be asked to provide the Department with a copy of your federal depreciation schedule at the time it is filed with the IRS Line B: Multiply Line A by 5 125% to determine the investment credit claimed Mail this form and all required attachments to: Taxation and Revenue Department Name of Business Name of Contact Person Telephone Number ( ) New Mexico CRS Identification Number P O Box 8485 Albuquerque New Mexico 87198 8485 PART I QUALIFYING INFORMATION PART II CALCULATION OF CREDIT CLAIMED PART III CERTIFICATIONS Reason for Adjustment/ Disapproval Signature of Director or Delegate Date Approval Number State of New Mexico Taxation and Revenue Department The adjusted basis of equipment on which credit is claimed: $ The equipment on which credit is claimed on this application does not include any property for which the taxpayer claims a credit against compensating tax pursuant to Section 7 9 79 NMSA 1978 The equipment on which credit is claimed on this application does not include any property previously used in New Mexico and was not previously approved for a credit under the Investment Credit Act pursuant to Section 7 9A 6 NMSA 1978 The equipment on which credit is claimed on this application has been incorporated into the taxpayer's manufacturing operation The equipment on which credit is claimed on this application is q owned by the taxpayer or q owned by the United States the State of New Mexico or a political subdivision thereof and leased to the taxpayer The Investment Credit Act Sections 7 9A 1 through 7 9A 11 NMSA 1978 provides a credit equal to 5 125 percent of the value of certain equipment purchased or brought into New Mexico in connection with a manufacturing operation You should review Section 7 9A 3 for the statutory definitions of "equipment" "manufacturing operation" and other pertinent terms Once approved the credit may be applied against a maximum of 85% of a taxpayer's gross receipts compensating and with holding tax liability but may not be taken against any local option gross receipts tax imposed by a county or a municipality This application for an Investment Credit by was reviewed by the Taxation and Revenue Department and was You must certify that the statements set out under Part III are true and correct by placing a checkmark in the box next to each statement