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Form RPD-41238 Application for Rural Job Tax Credit
(Tier areas are defined on the back of this form ) * Attach Form RPD 41247 Certificate of Eligibility for the Rural Job Tax Credit for each job for which credit is claimed in an eligible period 3 Multiply line 2 by 0625 to compute the total Rural Job Tax A Rural Job Tax Credit is offered to employers who have been approved for Job Training Incentive Program assistance It is based on the wages earned in qualifying jobs occupied by an eligible employee for at least forty eight (48) weeks during a qualifying period action Use Form RPD 41365 Notice of Transfer of Rural Job Tax Credit to report to TRD a transfer or distribution of approved rural job tax credits APPLICATION APPLICATION FOR RURAL JOB TAX CREDIT Application for Rural Job Tax Credit Instructions Apply to the Taxation and Revenue Department (TRD) for the Approval by the New Mexico Taxation and Revenue Department Claim No Department authorization: Title: Date issued: Credit sequence number: Total amount approved: ates after July 1 2000 The amount of the rural job tax credit is 6 25% of the first $16 000 in wages paid for the qualifying job Attach a Form RPD 41247 Certificate of Eligibility for the Rural Job Tax Credit for each eligible job included in line 1 CERTIFICATIONS Complete all information requested in the address block Complete taxpayer signature title telephone number and date Credit credit by completing Form RPD 41238 Application for Rural Job Tax Credit Complete Form RPD 41247 Certificate of Eli gibility for the Rural Job Tax Credit for each eligible job within an eligible period On the application summarize the wages Credit may be claimed a maximum of: eligible employee during each qualified period the number of Eligible employer defined An employer who has been ap proved for Job Training Incentive Program (JTIP) assistance by the New Mexico Economic Development Depar tment Enter the information requested under the tier area column that describes the location of the job Enter the number of eligible jobs for which credit is claimed (A certificate must be attached for each eligible job) Enter the sum of the wages for each eligible job as certi fied by the applicant (Maximum $16 000 of wages paid for each qualifying job per qualified period ) The Rural Job Tax FORM INSTRUCTIONS: four qualifying periods for each job performed or based at a location in a tier one area or in a qualifying period An eligible employee must occupy the job or a period of 12 months beginning on the anniversary of the day an eligible employee began working in a qualified job JTIP assistance contact: New Mexico Economic Development Department Joseph M Montoya Building 1100 So St Fran cis Drive Santa Fe NM 87505 4147 or call: (505) 827 0300 or (800) 374 3061 Their Internet address is: www gonm biz/ Mail the notification of transfer to: New Mexico Taxation and Revenue Department PIT Edit Error P O Box 5418 Santa Fe New Mexico 87502 5418 Mail to: New Mexico Taxation and Revenue Department ATTN: Director's Office P O Box 8485 Albuquerque New Mexico 87198 8485 For the status of the credit application call (505) 841 6478 Mail to: Taxation and Revenue Department ATTN: Director's Mailing address City state and ZIP code Name of business New Mexico CRS identification number Name of contact person Telephone number Fax number New Mexico not listed above Effective June 3 2003 Farmington and the 10 miles surrounding this city no longer qualified for the NEW MEXICO RURAL JOB TAX CREDIT Number of eligible jobs claimed* A certificate is required for each eligible job Office P O Box 8485 Albuquerque New Mexico 87198 8485 For assistance call (505) 476 3683 on the day an eligible employee began working in the qualifying Page 1 of 2 Physical address City state and ZIP code PLEASE PRINT OR TYPE provides a credit for eligible rural employers for wages paid to an eligible employee for each qualifying job the employer cre pursuant to Section 21 19 7 NMSA 1978 To learn more about qualified job for at least 48 weeks Qualifying job defined A job established by an eligible em ployer that is occupied by an eligible employee for at least 48 weeks of a qualifying period Qualifying period defined A period of 12 months beginning receipts) compensating and withholding taxes due less the amount of any credit other than the Rural Job Tax Credit applied The holder may also apply the credit to personal or corporate income tax liability If a PTE is a holder of the credit the PTE may pass the credit to its owners so that the owners may claim the credit against their corporate or personal income tax liabili reported on the certificates and calculate the amount of credit Attach certificate(s) to the application and submit to the TRD respect to local option gross receipts taxes (5 125% of taxable rural job tax credit Rural Job Tax Credit Authorized by the New Mexico Taxation and Revenue Department Rural Job Tax Credit: Multiply line 2 by 0625 STATE OF NEW MEXICO STATE OF NEW MEXICO TAXATION AND REVENUE DEPARTMENT TAXATION AND REVENUE DEPARTMENT Taxpayer's Signature Title Telephone Number Date The employer shall certify the amount of wages paid to each The holder of the credit may apply all or a portion of the Rural Job Tax Credit to gross receipts less any taxes collected with The Rural Job Tax Credit Act Section 7 2E 1 1 NMSA 1978 The Rural Job Tax Credit may be claimed for each qualifying job for a maximum of four qualifying periods if the job is performed or based at a location in a tier one area and two qualifying periods if the job is performed or based at a location in a tier two area This credit may be sold exchanged or otherwise transferred The parties to such a transaction shall notify the New Mexico Taxation and Revenue Department within ten days of the trans This credit may be sold exchanged or otherwise transferred Use Form RPD 41365 Notice of Transfer of Rural Job Tax Credit to report to TRD a transfer or distribution of approved rural job tax credits The parties to such a transaction shall notify the New Mexico Taxation and Revenue Department of the sale exchange or transfer within ten days of such transaction The holder of this credit may apply all or a portion of the rural job tax credit to gross receipts tax (excluding local option taxes imposed by a municipality or county) compensating or withholding tax less the amounts of any other credit applied The holder also may apply the credit to personal or corporate income tax liability The credit may be carried forward for a period of three years from the date issued as referenced above Tier areas and rural area defined A rural area excludes Albuquerque Corrales Farmington Las Cruces Los Alamos County Los Ranchos Rio Rancho Santa Fe or Tijeras or any area within a ten mile zone around any of these municipalities A tier two area is within the cities of Alamogordo Carlsbad Clovis Gallup Hobbs and Roswell A tier one area is anywhere within TIER ONE AREA TIER TWO AREA ties Use Form RPD 41365 Notice of Transfer of Rural Job Tax Credit to report to TRD a distribution of approved rural job tax credit to the owners members or partners of a PTE tificates must be notarized and submitted with the application To claim approved credits against tax liabilities complete Form RPD 41243 Rural Job Tax Credit Claim Form and submit the form with the return to which the taxpayer wishes to apply the credit The credit can be carried forward for a period of three years from the date the credit is issued Total Eligible Wages: ($16 000 maximum per job certificate)* Pursuant to Paragraphs (1) (2) and (3) 26 U S C Section 51(c) TRANSFER OF CREDIT TRD may approve the credit and issue to the applicant a docu ment granting the tax credit two qualifying periods for each job performed or based at a location in a tier two area USING THE RURAL JOB TAX CREDIT weeks during the period the position was occupied and whether the qualifying job was in a tier one or a tier two area Form RPD 41247 Certificate of Eligibility for the Rural Job Tax Credit must be completed for each eligible job within an eligible period Cer