Form RPD-41168 Application for Investment Credit, Schedule A

1) You must have employed one additional full time employee for every $250 000 (or portion of that amount) in value of 1) You must have employed one additional full time employee for every $500 000 (or portion of that amount) in value of 2) You must have employed one additional full time employee for every $1 000 000 (or portion of that amount) in value of 2) You must have employed one additional full time employee for every $500 000 (or portion of that amount) in value of 3) You must have employed one additional full time employee for every $1 000 000 (or portion of that amount) in value of After the investment credit has been approved you may apply the credit against gross receipts compensating or withhold ing tax that you owe to the State of New Mexico The credit is limited to 85% of the CRS taxes due for any reporting period and may not be taken against any local option gross receipts tax imposed by a county or municipality Any amount of credit remaining may be claimed in subsequent reporting periods APPLICATION FOR NEW MEXICO INVESTMENT CREDIT Complete Schedule A by providing the name social security number date of hire and number of hours worked per week for each employee used to meet the employment requirement Divided by 40 Effective June 20 2003 the New Mexico Legislature changed the employment requirements of the Investment Credit Act through June 30 2011 and in 2009 extended the employment requirements to June 30 2020 The requirements are based upon the day the taxpayer applies for the credit The date the taxpayer applies for the credit is the date of the postmark employee for the remaining $725 000 Employee Name Social Security Number Date Hired Hours / Week Example: If you apply for the investment credit on qualified equipment with a value of $31 725 000 you must show that you have hired 62 additional full time employees: 60 employees for the first $30 million; 1 employee for the next $1 000 000; 1 For applications submitted after June 30 2020: For applications submitted before June 20 2003: For applications submitted on or after June 20 2003 but before July 1 2020: For the Department to verify that employment requirements for claiming the investment credit are met please provide the following information for each NEW employee (Attach additional sheets in the same format if necessary ) INSTRUCTIONS qualified equipment for which the credit is claimed on the application up to a value of $2 million; qualified equipment for which the credit is claimed on the application up to a value of $30 million and qualified equipment over $2 million up to a value of $30 million and qualified equipment over $30 million REV 12/10/2012 REV 12/10/2012 APPLICATION FOR NEW MEXICO INVESTMENT CREDIT RPD 41168 SCHEDULE A State of New Mexico Taxation and Revenue Department the credit is claimed on the application The employees used to meet the employment requirement for this claim cannot have been counted toward the employment requirement for any prior claim and must be in addition to the number of full time employees employed on the day one year prior to the day on which the taxpayer applied for the credit (Certain employees hired solely for purposes of training may qualify even if hired more than one year prior to the date of the claim See Section 7 9A 7 1(C) NMSA 1978 ) To calculate the number of full time equivalent employees add the average weekly hours worked or expected to be worked by all employees whose regular weekly work hours are or are expected to be less than 40 hours Divide the total by 40 and round down to the nearest whole number The rounded number plus the number of employees who work or are expected to work an average of 40 or more hours per week is the number of full time equivalent employees To qualify for the investment credit you must meet the applicable employment requirements Attach this form to RPD 41167 Application for New Mexico Investment Credit to support the application for investment credit Total Hours Per Week USING THE INVESTMENT CREDIT When you claim an investment credit on your monthly CRS 1 return an Investment Credit Claim Form RPD 41212 must be attached to the return An Investment Credit Claim Form shall accompany any return to which the taxpayer wishes to apply an approved credit and the claim shall specify the amount of credit intended to apply to each return You must have employed one additional full time employee for every $100 000 in value of qualified equipment for which