Form RPD-41288 Application for High-Wage Jobs Tax Credit

*Areas: Albuquerque Farmington Las Cruces Rio Rancho Roswell or Santa Fe Benefits means any employee benefit plan as defined inTitle 1 Section 3 of the federal Employee Retirement IncomeSecurity Act of 1974 29 U S C 1002 Qualif ying period means the 12 months beginning on the Wages means wages as defined in Paragraphs (1) (2) and "Eligible employee" means an individual who is employedby an eligible employer and who is a resident of New Mexico "Eligible employee" does not include an individual who: "Modified combined tax liabilit y" means the total liabilit y "New high wage economic based job" means a job createdbyaneligibleemployeronorafterJuly1 2004andpriortoJuly1 2015 that is occupied for at least 48 weeks of a qualifyingperiod by an eligible employee who is paid wages calculatedfor the qualifying period to be at least: $12 000ofwagesandbenefitspaidforeachhigh wage (1) through (8) of 26 U S C Section 152(a) to the employer orif the employer is a corporation to an individual who owns directlyorindirectly morethan50%invalue of theoutstand ing stock of the corporation or if the employer is an entityother than a corporation to an individual who owns directlyorindirectly morethan50%ofthecapitalandprofitsinterestin the entity; (3) of 26 U S C Section 51(c) (from column AC of the Employee Eligibility Detail Report) 1 Enter the total number of eligible employees occupying a qualif ying high 2 Enter the total high wage jobs tax credit claimed: a $40 000 if the job is performed or based in a munici pality with a population of 40 000 or more according to themost recent federal decennial census; and a bearsanyoftherelationshipsdescribedinParagraph A CD containing the excel spreadsheet RPD 41376 High Wage Jobs Tax Credit Employee Eligibilit y Detail Report must accompany your submission of Form RPD 41288 Application for High Wage Jobs Tax Credit to the New Mexico Taxation and Revenue Department Form RPD 41376 High Wage Jobs Tax Credit Employee Eligibilit y Detail Report can be found on ourweb site www tax newmexico gov Download Form RPD 41376 from the web site complete all information requestedandcopythespreadsheettoaCDtobeattachedtotheapplica tion Refer to column instructions listed below after March 11 2011 If the qualifying period begins prior to APPLICATION FOR HIGH WAGE JOBS TAX CREDIT APPLICATION FOR HIGH WAGE JOBS TAX CREDIT Approved by: Title: Authorized by the New Mexico Taxation and Revenue Department b $28 000 if the job is performed or based in a munici pality with a population of less than 40 000 according to themostrecentfederaldecennialcensusorintheunincorporatedarea of a count y b if the employer is an estate or trust is a grantor ben eficiary or fiduciary of the estate or trust or is an individualwhobearsanyoftherelationshipsdescribedinParagraphs(1)through(8)of26U S C Section152(a)toagrantor beneficiaryor fiduciary of the estate or trust; c is a dependent as that term is described in 26 U S C Section152(a)(9) oftheemployerorifthetaxpayerisacorpo ration of an individual who owns directly or indirectly morethan 50% in value of the outstanding stock of the corporationor if the employer is an entity other than a corporation if anindividualwhoowns directlyorindirectly morethan50%ofthe capital and profits interest in the entity or if the employeris an estate or trust of a grantor beneficiary or fiduciary ofthe estate or trust; or column "AC" of Form RPD 41376 Amaximumcredit of Column A A: Enter the taxable wages and employer paidbenefitspaidduringthequalifying period(the sum of columnY and column Z) Column A: Enter the name of the eligible employer Column AB: Multiply column 'AA'by 10% and enter here Column AC: Enter the lesser of column 'AB' or $12 000 This is the amount of high wage job tax credit claimed forthis position during the qualifying period If more than onequalifiedemployeeoccupiedthisjobduringthisperiod adjustthe amount so that the total credit claimed for all qualifiedemployeesduringthisperioddoesnotexceed$12 000 (Enterthis amount on Line 2 of Form RPD 41288 Application for High Wage Jobs Tax Credit ) Column B: Enter employer's New Mexico CRS identification number Column C: Enter employer's federal employer identification number (FEIN) Column D: Enter 'yes'or 'no'if the applicant employer mademore than 50% of its sales to persons outside New Mexicoduring the most recent 12 months prior to claiming the credit Column E: Enter 'yes' or 'no' if the applicant employer was eligible for JTIP assistance on or before the date the positionwas created Column F: Enter 'yes'or 'no'if employer has been involvedin a merger or acquisition between January 1 2004 and thedate of the application Column G: Enter the date Form RPD 41288 Application for the High Wage Jobs Tax Credit that included this position was signed Use the date format "mm/dd/yyyy" Column K: Enter the employee's social securit y number Column L: Enter the position title Column M: Enter the position number It may be any numericcharactersyouchoose butmustremainthesameforpurposes of reporting this high wage job The number must be uniqueto the position and separate from the employee occupying Column N: Enterthedatethequalifyingpositionwascreated Use the date format "mm/dd/yyyy" The job must be createdbetween 07/01/2004 and 06/30/2015 Column Q: Enter the number of qualified periods previouslyclaimed for this position The high wage jobs tax credit islimited to four qualifying periods for each job Column R: Enterthenumberofweeksthejobwasoccupieddur ing the qualifying period by the employee filling the position Column S: Enter the total number of employees with high wage positions on the day prior tothedaythepositionwascreated Column T: Enter the total number of employees with high wagepositions on the last day of the current qualifying period Foreach new qualified high wage job the number of high wage Column U: Enter 'yes'if the employee was paid $40 000 ormore in taxable wages and the position was located in oneof the following areas below* during the qualifying period; otherwise enter 'no' Column V: Enter 'yes'if the employee was paid $28 000 ormore in taxable wages and the position was located in anarea in New Mexico other than one of the areas listed below* during the qualifying period; otherwise enter 'no' Column W: Enter the gross wages paid during the qualifying period Column X: Enter the pre tax deductions paid during thequalifying period Enter the cafeteria plan deductions only Do not include 401K deductions Column Y: Enterthetaxablewagespaidduringthequalifyingperiod (subtract column X from column W) Column Z: Enter the employer paid benefits paid during thequalifyingperiod Donotincludebenefitspaidbytheemployee COLUMNS A THROUGH G NOTE: You only need to enter the data in columns A through G once Subsequent rows will self populate with the informa COLUMNS AD THROUGH AF COLUMNS H THROUGH AC Columns H J: Enter the name (last name first name middleinitial)oftheemployeewhoisfillingtheposition Ifmorethanone employee occupied the qualifying job during the qualify ing period enter a separate line for each eligible employee Columns O and P:Enterthebeginningand ending dateof thequalifying period that is included in this application Use thedate format "mm/dd/yyyy" See the definition of "Qualifying period" on page 2 Company eligibilit y for Job Training Incentive Program (JTIP) assist ance If you are eligible for JTIP assistance you Complete all information requested in the address block CompleteFormRPD 41288 Application for High Wage Jobs Tax Credit and submit it tothe Taxation and Revenue Departmentalong with a CD (compact disc) containing Form RPD 41376 correct and complete Signature of claimant Subscribed and sworn before me this day of Date 20 d is working or has worked as an employee or as an in dependentcontractorforanentity that directly orindirectly owns stock in a corporation of the eligible employer or otherinterest of the eligible employer that represents 50% or moreof the total voting power of that entity or has a value equal to50% or more of the capital and profits interest in the entity day an eligible employee begins working in a new high wageeconomic based job or 12 months beginning on the anniver sary of the day an eligible employee began working in a newhigh wage economic based job DEFINITIONS: An eligible employer is an employer that: Do not enter any information in columns 'AD'through 'AF' Effective March 11 2011 if located in Farmington a qualify ing job is eligible if the employee earns wages of $40 000 ormore instead of $28 000 or more A job that qualified basedon the law prior to March 11 2011 but will not qualify forfuture periods because the employee earned wages less than$40 000duringthequalifyingperiodandthejobisperformed Effective March11 2011 a qualifyingjob performedorbasedin Farmington is eligible only if that employee earns wages Eligibilit y Detail Report Line 2 Enter the total high wage jobs tax credit claimed from FOR DEPARTMENT USE ONLY FOR M INSTRUCTIONS: for the reporting period for the gross receipts tax imposed bySection 7 9 4 NMSA 1978 together with any tax collected atthe same time and in the same manner as the gross receiptstax such as the compensating tax the withholding tax theinterstate telecommunications gross receipts tax the sur charges imposed by Section 63 9D 5 NMSA 1978 and thesurchargeimposedbySection63 9F 11NMSA1978 minustheamount of any credit other than the high wage jobs tax creditapplied against any or all of these taxes or surcharges; but"modified combined tax liability" excludes all amounts col lected with respect to local option gross receipts taxes for this position Form RPD 41288 Application for High Wage Jobs Tax Credit FormRPD 41376 High Wage Jobs Tax Credit Employee HIGH WAGE JOBS DETAIL REPORT High wage jobs tax credit amount approved: $ Claim number: High Wage Jobs Tax Credit Employee Eligibilit y Detail Report HIGH WAGE JOBS TAX CREDIT RPD 41367 EMPLOYEE ELIGIBILITY DETAIL REPORT high wage jobs tax credit To determine whether a companyis eligible for JTIP review the Job Training Incentive ProgramPolicy and Procedure Manual on the New Mexico EconomicDevelopment Department's web page w w w gonm biz or by calling (505) 827 0300 or (800) 374 3061 HOW TO APPLY: IMPORTANT: Submit all required documentation along with in the state in this application Refer to the number of entries on INSTRUCTIONS INSTRUCTIONS is eligible for the Job Training Incentive Program(JTIP) assistance by the New Mexico Economic DevelopmentDepartment pursuant to Section 21 19 7 NMSA 1978 Todetermine whether a company is eligible for JTIP see page2 of these instructions To learn more about JTIP assistance contact: New Mexico Economic Development Department Joseph M Montoya Building 1100 So St Francis Drive SantaFe NM87505 4147orcall:(505)827 0323or(800)374 3061 The Internet address is: w w w gonm biz job in each qualified period is allowed jobs employed on the day prior to the day the job was created jobs must be at least one more than the number of high wage liabilit y on page 2 of these instructions Line 1 Enter the number of eligible employees occupying a made more than 50% of its sales to persons outsideNewMexicoduringthemostrecent12monthsoftheemployer's modifiedcombinedtaxliabilityreportingperiodsendingpriorto claiming a high wage jobs tax credit; or Mailing address City state and ZIP code March 11 2011 and the wages earned during the qualifying March 11 2011 may be used to claim the credit match the information for the eligible employer that is on Form RPD 41288 Application for High Wage Jobs Tax Credit may also qualif y as an eligible employer for purposes of the Name of contact Phone number E mail address Name of eligible employer New Mexico CRS identification number Notary Public My commission expires NOTE: A CD containing the High Wage Jobs Tax Credit Employee Eligibility Detail Report and all supporting documentation (payroll registers employer's paid benefits sales documentation for the last 12 months proof of newly created jobs for individuals being claimed and proof ofincrease of high wage jobs for the qualifying period) must be attached to this application The Employee Eligibility Detail Report may be down loaded from our website at www tax newmexico gov NOTE: The employer must be eligible for JTIP assistance by the Economic Development Department on or before the date the job is created number of employees reported in the Employee Eligibilit y Detail Report of $40 000 or more A job performed or based in Farmingtonthat was qualified based on the law in effect prior to March11 2011 will needto meet the$40 000wage requirement forfuture qualifying periods On this application answer the questions establishing thatyouretainthestatusofaneligibleemployer TheTaxationandRevenue Department may approve the credit and issue to theapplicantadocumentgrantingthetaxcredit Forstatusoftheapplication call (505) 841 6478 Once approved the high wage jobs tax credit may be appliedagainst the modified combined tax liability of a taxpayer option gross receipts taxes Form RPD 41114 Enhanced 911 Services Surcharge or Form RPD 41116 Telecommunications Relay Ser vice Surcharge When applying the credit to FormCRS 1 you must pay any gross receipts tax due over the staterate of 5 125% Any excess credit will be refunded or based in Farmington does not qualify for wages earned Page 2 of 4 Page 3 of 4 Page 4 of 4 period are $28 000 or more only the wages earned prior to Physical address City state and ZIP code qualifyinghigh wagejobinaqualifiedperiod included STATE OF NEW MEXICO STATE OF NEW MEXICO STATE OF NEW MEXICO TAXATION AND REVENUE DEPARTMENT TAXATION AND REVENUE DEPARTMENT TAXATION AND REVENUE DEPARTMENT Telephone number: Date: The Department may require you to furnish additional docu ment ation to verify eligibility The employer must retain proof in its records that out of state sales were more than 50% of total sales during the mostrecent 12 month report period ending prior to claiming thehigh wage jobs tax credit the position Thequalifiedjobmustbeoccupiedforatleast48weeksduringa qualifying period and an eligible employee must be paid atleast $40 000 if thejob is performed or basedin Albuquerque Farmington Las Cruces Rio Rancho Roswell or Santa Fe and $28 000 if the job is performed or based anywhere else These columns are for Department use only This form must be signed and notarized Mail this Form RPD 41288 Application for High Wage Jobs Tax Credit the CD containingFormRPD 41376 High Wage Job Detail Report and allofthesupportingdocumentationto:TaxationandRevenueDepartment Director'sOffice P O Box8485 Albuquerque NM87198 8485 TheDepartmentwillnotifyyouwhenapproved Once approved complete Form RPD 41290 High Wage Jobs Tax Credit Claim Form toclaimthecreditagainst themodifiedcombined tax liability due Any excess will be refunded See the instructions for the definition of Modified combined tax tion provided in the first row when you enter the employee's last name The information contained in these rows should To claim approved credits against tax liabilities submit FormRPD 41290 High Wage Jobs Tax Credit Claim Form w ith the tax orsurchargereturntowhichyouwishtoapplythecredit You mayapplythecreditagainsttaxowedonFormCRS 1 lesslocal Page 1 of 4 Total high wage jobs tax credit Under penalty of perjury I declare that I have examined this claim and to the best of my knowledge and belief it is true USING THE HIGH WAGE JOBS TA X CREDIT: wage job in a qualified period included in this application Refer to the whichcan befound on ourwebsite www tax newmexico gov Alsoincludeallsupportingdocumentationinelectronicformat (payrollregisters employer'spaidbenefits salesdocumenta tion for the last 12 months proof of newly created jobs for thepositions being claimed and proof of increase of high wagejobs for the qualifying period The High Wage Jobs Tax Credit Employee Eligibilit y Detail Report is an excel spreadsheet and the instructions for the Employee Eligibilit y Detail Reportbegins on page 3 of these instructions Who Must File: An eligible employer may file this form to apply for a high wage jobs tax credit for each new high wage economic based job created between July 1 2004 and June 30 2015 that is occupied during a qualified period beginning with the year thenew job is created and for three following qualifying periods The amount of the credit is 10% of wages and employer's benefitspaid or distributed to an eligible employee in a high wage economic based job for a maximum credit of $12 000 per qualifiedperiod (See the instructions for important definitions ) For status of the application call (505) 841 6478