Form RPD-41290 High-Wage Jobs Tax Credit Claim Form

modified combined tax liability excludes all amounts collected with respect to local option gross receipts taxes 1 Total high wage jobs tax credit applied May not exceed the amount on line 2 below 1 2 Total approved high wage jobs tax credit 2 3 Subtract line 1 from line 2 This is the amount to be refunded 3 A Enter the total of the taxable gross receipts excluding the taxable interstate telecommunication gross receipts reported (Column F of the CRS 1) A Type of tax return (CRS 1 E911 TRS) B Report Period Enter the tax period as shown on the return Enter the beginning and ending date of the report period C High wage jobs tax credit to be applied Approved high wage jobs tax credit may be deducted from the modified combined tax liability* of the taxpayer If the credit exceeds the modified combined tax liability of the taxpayer the excess shall be refunded to the taxpayer *Modi fied combined tax liability means the total liability for the reporting period for the gross receipts tax imposed by Sec tion 7 9 4 NMSA 1978 together with any tax collected at the same time and in the same manner as the gross receipts tax such as the compensating tax the withholding tax the interstate telecommunications gross receipts tax the sur charge imposed by Section 63 9D 5 NMSA 1978 and the surcharge imposed by Section 63 9F 11 NMSA 1978 mi nus any credit other than the high wage jobs tax credit applied against any or all of these taxes or surcharges but Attach this form to the tax return to which you wish to apply the credit and mail to the address on the tax return For assis tance claiming this credit call 505 476 3683 B Multiply Line A by 5 125% and enter here C Enter the compensating tax reported (Line 2 of the CRS 1) Complete the returns to which you wish to apply the high wage jobs tax credit indicating the full amount of tax liability Do not reduce the tax liability shown on the return by the credit claimed Complete the High wage Jobs Tax Credit Application Detail Report below to show how you would like an approved high wage jobs tax credit to be applied and the amount if any to be refunded NOTE: Excess credit that does not appear on the report will be refunded Please see the instructions to determine the correct amount that can be applied to any report You should underpay the liability due on each report by the amount of the credit to be applied To avoid penalty or interest submit the High wage Jobs Tax Credit Claim Form on or before the due date of the return D Enter the withholding tax reported (Line 3 of the CRS 1) E Enter the total of the interstate telecommunications gross receipts tax reported (Column H of the CRS 1) F Enter the sum of Lines B through E G Enter the amount of any credit other than the high wage jobs tax credit applied against the CRS 1 return H Subtract Line G from F This is the maximum amount of high wage jobs tax credit that may be applied against this CRS 1 return HIGH WAGE JOBS TAX CREDIT APPLICATION DETAIL REPORT In the columns below enter the type of tax return the reporting period and the amount of high wage jobs tax credit to be applied to each return If additional space is needed attach a separate worksheet in the same format and enter the amount of high wage jobs tax credit to be applied from all pages in line 1 below HIGH WAGE JOBS TAX CREDIT CLAIM FORM HOW TO DETERMINE THE AMOUNT OF CREDIT THAT MAY BE APPLIED HOW TO USE THIS FORM When claiming an approved high wage tax credit this form must accompany the CRS 1 E911 or TRS return(s) to which the taxpayer wishes to apply the credit Mail the completed form to the address below along with the return(s) and any applicable payments I declare that I have examined this claim form including any accompanying schedules and statements and to the best of my knowledge and belief it is true correct and complete INSTRUCTIONS HOW TO COMPLETE THIS FORM Enter the name of the business and the New Mexico combined report system (CRS) identification number The name of the business and the New Mexico CRS identification number should be the same as indicated on the returns to which you wish to apply the high wage jobs tax credit The high wage jobs tax credit may not be transferred to another taxpayer If the name or identification number is different attach a letter of explanation Complete Columns A through C instructing the Depart ment how to apply the approved high wage jobs tax credit If additional space is needed attach a separate worksheet in the same format Compute the maximum amount of credit that may be applied to the tax liability indicated on the return(s) using the instructions below Line 1 Enter the total amount of credit to be applied (the sum of Column C) If a separate worksheet is attached enter the amount of credit to be applied from all pages on line 1 Line 2 Enter the amount of approved high wage jobs tax credit If more than one high wage jobs tax credit has been ap proved enter the sum of the approved high wage jobs tax credit applications Do not enter any approved high wage jobs tax credits that have been previously claimed Line 3 Subtract Line 1 from Line 3 This is the amount of high wage jobs tax credit to be refunded Name and phone number of contact Name of business New Mexico CRS identification number Note: The high wage jobs tax credit may not be applied against leased vehicle surcharges reported in Column H of the CRS 1 return Sign and date the declaration at the bottom of the form Signature of Taxpayer or Agent Title Date State of New Mexico Taxation and Revenue Department To compute the maximum amount that may be applied against a CRS 1 return To compute the maximum amount that may be applied against an E911 or TRS return To determine the maximum amount of approved high wage jobs tax credit that may be applied to a CRS 1 return follow steps A through H below The high wage jobs tax credit may also be applied to penalty and interest To determine the maximum amount of approved high wage jobs tax credit that may be applied to an E911 or telecommunica tion relay service surcharge (TRS) return subtract any credit other than the high wage jobs tax credit applied to the return from 100% of the tax liability shown on the E911 or the TRS return The high wage jobs tax credit may also be applied to penalty and interest