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Form RPD-41298 Research and Development Small Business Tax Credit
after which the qualified research and development small during which the taxpayer sold any goods of which the in a fiscal year of the qualified research and development small business after the first fiscal year in which that "Qualified research and development small business" means a "Qualified research expenditure" means an expenditure directly related to qualified research but does not include "Qualified research" means research that is undertaken for (3) did not in any prior calendar month have more than 50% (4) has made qualified research expenditures for the period of 12 calendar months ending with the month for which the a qualified research and development small business may claim a credit for all gross receipts taxes or 50% of withholding taxes paid on behalf of employees and owners with no more than five percent ownership that are due to the state or payable by the taxpayer with re spect to that business for that report period The credit must be claimed within one year after the end of the report period to which the credit is applicable You must check each box declaring the statement to be true for the calendar months within the report period Mail this form to the address below with the CRS 1 return and any applicable payments If a refund is due because the CRS 1 return was previously filed and paid also submit a completed Application for Tax Refund Form RPD 41071 A report period is a calendar month quarter or semiannual period according to the filing frequency listed on your Reg istration Certificate If the taxpayer determines that it does A taxpayer is not eligible for the credit with respect to a cal endar month: ABOUT THIS CREDIT: The Research and Development after the calendar month in which more than 50% of the qualified research and development small business vot ing securities or other equity interests having the right to designate or elect the board of directors or other governing body of that business are owned directly or indirectly by another business and development small business for report periods beginning on or after July 1 2011 and before June 30 2015 but for any expenditure on research funded by any grant contract or similar mechanism by another person or governmental entity and does not include any expenditure on property that is owned by a municipality or county in connection with an industrial revenue bond project or expenditures for which the taxpayer has received any credit pursuant to the Capital Equipment Tax Credit Act the Investment Credit Act or the Technology Jobs Tax Credit Act before June 30 2011 or after June 30 2015 business business employs more than 25 employees on a full time equivalent basis business has total revenues in excess of $5 million business including a corporation general partnership limited partnership limited liability company sole proprietorship or other similar entity that: business qualifies CLAIMING THE RESEARCH AND DEVELOPMENT SMALL BUSINESS TAX CREDIT: The taxpayer may claim the credit within one year after the end of the report period To claim the credit attach Form RPD 41298 Research and Development Small Business Tax Credit Claim Form to the CRS 1 return Claiming the credit against a report period renders the tax payer ineligible to claim the investment credit or technology jobs tax credit against the same report period credit is sought of at least 20% of its total expenditures DEFINITIONS: During the calendar month the taxpayer did not sell any goods it does not manufacture without receipt of an appropriate NTTC for the sale during which the taxpayer is the beneficiary of an industrial employed no more than 25 employees on a full time equivalent basis in any prior calendar month; First time claimants must attach a description of the qualified fiscal year; for those 12 calendar months FORM INSTRUCTIONS: Complete all information requested in the address block Complete Sections I and II To qualify you must be able to answer yes to all questions in Section II In Section III indicate the report period of the CRS 1 return and the amount of credit to be applied to this CRS 1 return governing body of the qualified business owned directly had total revenues of no more than $5 million in any prior if the business was not a qualified research and devel opment small business in the 12 month calendar period ending with that calendar month IMPORTANT: If this is your first time claiming the credit you must attach a detailed description of the qualified research and development performed on a separate page or your claim will be denied If your qualified research and development description changes also attach a description of the change on a separate page In any prior calendar month no more than 50% of the voting securities or other equity interest having the right to designate or elect the board of directors or other governing body of the qualified business has been owned directly or indirectly by another in Section 7 1 61 NMSA 1978 The time period between July 1 2009 through June 30 2011 is not included in the determination of consecutive calendar months but claims made for report periods after July 2005 or prior to July 1 2009 are included INSTRUCTIONS INSTRUCTIONS FOR USING THIS FORM: When claiming the research and development tax credit this form must accompany the CRS 1 return to which the taxpayer wishes to apply the credit For report periods beginning after July 1 2011 but not after June 30 2015 Mail the CRS 1 return and RPD 41298 to Taxation and Revenue Department P O Box 25128 Santa Fe NM 87504 25128 For assistance call (505) 476 3683 Mailing address City state and ZIP code month month for which a claim for the credit is made by a taxpayer or by a person to whom the taxpayer is a successor pursu ant to Section 7 1 61 NMSA 1978 The time period between July 1 2009 through June 30 2011 is not included in the determination of consecutive calendar months but claims made for report periods after July 2005 or prior to July 1 2009 are included Name of business New Mexico CRS identification no Name of contact Phone number E mail address No more than 25 employees on a full time equivalent basis have been employed in any prior calendar month no more than 35 consecutive calendar months after the first not qualify for a calendar month during the report period the taxpayer may not claim the credit for that calendar month but may qualify during other months within the reporting period of its voting securities or other equity interest with the right to designate or elect the board of directors or other of total expenditures for those 12 calendar months or indirectly by another business; and ownership that are due to the state or payable by the qualify ing small business for the calendar month in which the small Qualified research expenditures in the 12 calendar months ending with the calendar month of the report period are at least 20% receipts taxes and 50% of withholding taxes paid on behalf of employees and owners with no more than five percent research and development performed by the business Sign and date the application RESEARCH AND DEVELOPMENT SMALL BUSINESS TAX CREDIT CLAIM FORM revenue bond issued by a municipality or county or Section I Indicate the first calendar month in which the business was eligible and claimed the research and development small business tax credit Section II Eligibility for the research and development small business tax credit during a calendar month: Check all that apply For any calendar month during the current report period you must be able to check all the statements below or you are not eligible to claim the research and development small business tax credit during that calendar month Small Business Tax Credit is available for a qualified research State of New Mexico Taxation and Revenue Department Street address City state and ZIP code taxpayer is not a manufacturer unless the taxpayer has received an appropriate NTTC for such sale or sales that is more than 35 consecutive calendar months after the first month for which a claim for the credit is made by the taxpayer or by the successor in business as defined The amount of the credit is equal to the sum of all gross The business has been a qualified research and development small business in the 12 month period ending with this calendar The business is not a beneficiary of an industrial revenue bond issued by a municipality or county during the current calendar the purpose of discovering information that is technological in nature and the application of which is intended to be useful in the development of a new or improved business component of the taxpayer and in which substantially all activities constitute elements of a process of experimentation related to new or improved function performance reliability or qualify but not related to style taste cosmetic or seasonal design factors Total revenues have not exceeded $5 000 000 in any prior tax year