Form RPD-41349 Advanced Energy Deduction Report

Coal based electric generating facility means a new or repowered generating facility and an associated coal gasifica tion facility if any that uses coal to generate electricity and Eligible generation plant costs are expenditures for the emits the lesser of: Interest in a qualified generating facility means title to a Qualified generating facility is a facility that begins con Recycled energy is energy produced by a generation unit removes the greater of: Sequester means to store or chemically convert carbon dioxide in a manner that prevents its release into the atmo sphere and may include the use of geologic formations and enhanced oil coal bed methane or natural gas recovery techniques Solar photovoltaic electric generating facility means an electric generating facility with a name plate capacity of one megawatt or more that uses solar photovoltaic energy to generate electricity Solar thermal electric generating facility means an electric generating facility with a name plate capacity of one megawatt or more that uses solar thermal energy to gener ate electricity including a facility that captures and provides solar energy to a preexisting electric generating facility using other fuels in part subject to depreciation Subject to depreciation means the taxpayer s federal income (505) 476 3683 (NMED) issues a certificate of eligibility to a taxpayer stating that the taxpayer holds an interest in a qualified generating 1) what is achievable with the best available control technology or 2) ninety percent of the mercury from the input fuel; 1) what is achievable with the best available control technology or 2) thirty five thousandths pound per million British ther mal units of sulfur dioxide twenty five thousandths a geothermal electric generating facility that begins con struction on or after July 1 2010; a new or repowered coal based electric generating facility a recycled energy project if that facility begins construction on or after July 1 2010; or a solar photovoltaic electric generating facility that begins construction on or after July 1 2010 and that may include an associated renewable energy storage facility; a solar thermal electric generating facility that begins construction on or after July 1 2010 and that may include an associated renewable energy storage facility; About the Compensating Tax Deduction: The owner of the About the Gross Receipts Tax Deduction: The owner of Advanced Energy Compensating Tax Deduction (Report B) advanced energy compensating tax deduction The interest owner must report any compensating tax deduction due on Advanced Energy Deduction Report Advanced Energy Deduction Report Instructions Page 1 of 2 Advanced Energy Gross Receipts Tax Deduction (Report A) advanced energy gross receipts tax deductions and ad ADVANCED ENERGY TAX CREDITS: An interest owner may also be eligible to claim a tax credit for purchases of all infrastructure required for sequestration is in place by the later of January 1 2017 or 18 months after the commercial operation date of the coal based electric generating facility AMOUNT OF ADVANCED ENERGY DEDUCTION CLAIMED THIS REPORT PERIOD an election under Internal Revenue Code Section 179 is an interest in a qualified generation facility are deductible and an associated coal gasification facility and expenditures are made or until the maximum combined and the taxpayer shall refund to the state tax deductions granted If the taxpayer demonstrates to the NMED that the taxpayer made every effort to sequester or control carbon New Mexico Taxation and Revenue Department AS REPORTED ON THE ATTACHED CRS 1 FORM ON WHICH THE DEDUCTION WAS TAKEN B Advanced Energy Compensating Tax Deduction Report stating the amount of advanced energy deductions reported on the CRS 1 Form The amount of the advanced energy deduction taken prior to calculating compensating tax re B with your CRS 1 Form and any applicable payment by the 25th of the month following the end of the report period The information at the top of Report A or Report B must be the information for the business reporting the deduction Mail to Taxation and Revenue Department P O Box 25128 Santa basis established for the qualified generating facility under the applicable provisions of the Internal Revenue Code of 1986 benefit allowed has been taken The maximum combined benefit allowed from approved advanced energy tax credits captures and sequesters or controls carbon dioxide emis sions so that by the later of January 1 2017 or 18 months after the commercial operation date of the coal based electric generating facility no more than one thousand one hundred pounds per megawat hour of carbon dioxide is emitted into the atmosphere certificate (NTTC) from an interest owner for the purchase certificate of eligibility The seller or lessor that accepts the completed Form RPD 41349 Report A to their CRS 1 Form completed Form RPD 41349 Report B to their CRS 1 Form control of the taxpayer The refund as determined by NMED Department (NMED) The Type 10 NTTCs may only be obtained by the interest owner who has been issued the development and construction of a qualified generating facility dioxide emissions to the extent feasible and the facility s in ability to meet the sequestration requirements of a qualified generating facility was beyond the facility s control NMED does not exceed a name plate capacity of 700 net megawatts duces the final compensating tax amount due reported on line 3 Report deductions for tangible personal property only eligible expenses for a qualified generating facility in lieu of the Advanced Energy Deduction See Forms RPD 41333 Advanced Energy Tax Credit Application and RPD 41334 Advanced Energy Tax Credit Claim Form for details Enter the Buyer's New Mexico CRS ID # as listed on the Type 10 NTTC Enter the location code from Column C Form CRS 1 Tax deduction claimed Enter the number of the certificate issued by EMNRD to the interest owner of the eligible qualified generating facility Enter the value of the tangible personal property deducted when computing the compensating tax due exclusively in a qualified generating facility; execute a Type 10 NTTC to the seller or lessor In order to Expenditures for which an advanced energy gross receipts or compensating tax deduction were claimed are not eligible for any other deduction or credit against personal income tax corporate income tax compensating tax gross receipts tax or withholding tax facility and the taxpayer does not sequester or control car bon dioxide emissions to the extent required by January 1 2017 or 18 months after the commercial operation date of Fe New Mexico 87504 5128 For further assistance call File Report A Advanced Energy Gross Receipts Tax Deduc tion Report if you accepted a Type 10 Nontaxable transaction FileReport B Advanced Energy Compensating Tax Deduction Report if you are the interest owner and you purchased or leased tangible personal property that are eligible advanced energy generation plant costs (services do not qualify) The value of eligible generation plant costs from the sale or lease of tangible personal property to a person that holds an interest For purposes of the advanced energy tax credit eligible generation plant costs must be "Subject to depreciation" for the report period in which the deduction is taken from gross receipts taxes The seller or lessor must attach a generating facility may not exceed $60 000 000 You must track the deductions taken and advanced energy tax credits approved Once your deductions and approved tax credits generating facility; and a county or municipality's interest in a qualified generating facility when the county or municipal ity uses an industrial revenue bond for construction of the have reached the $60 000 000 maximum benefit you must How to Complete the Form: Cut along the dotted line and I declare that I have examined this return including any accompanying schedules and statements and to the best of my knowledge and belief it is true correct and complete IMPORTANT DEFINITIONS: in a qualified generating facility may be deducted in computing includes methods and procedures to monitor the disposi tion of the carbon dioxide captured and sequestered from the coal based electric generating facility and including permitting; site characterization and assessment; engineering; design; carbon dioxide capture treatment com pression transportation and sequestration; site and equipment acquisition; and fuel supply development used directly and Instructions interest in the eligible qualified generating facility must first obtain a certificate of eligibility from the NMED to claim the Name NM CRS ID No First and last day of the report period (mm/dd/yyyy through mm/dd/yyyy) New Mexico Taxation and Revenue Department New Mexico Taxation and Revenue Department obtain a Type 10 NTTC the interest owner must first obtain a certificate of eligibility from the New Mexico Environment or lease of tangible personal property or services that are eligible generation plant costs Receipts from selling or leas ing tangible personal property or services that are eligible advanced energy generation plant costs to a person that holds Page 2 of 2 pound per million British thermal units of oxides of nitrogen and one hundredth pound per million British qualified generating facility qualified generating facility; a lessee's interest in a qualified RECAPTURE: If the New Mexico Environment Department Restrictions: These deductions are available for a 10 year period for purchases and 25 year period for leases from the Services do not qualify for the advanced energy compensat ing tax deduction The compensating tax rate is 5 125% on tangible personal property shall be paid within 180 days following a final order by NMED shall determine after a public hearing the amount of the tax credit that should be refunded NMED in its determination shall consider the environmental performance of the facility and the extent to which the inability to meet the sequestra Signature of Taxpayer or Agent Title Date Signature of Taxpayer or Agent Title Date (PLEASE CUT ALONG DOTTED LINE) stop making tax free purchases of eligible generation plant costs using the advanced energy gross receipts tax deduc tions and advanced energy compensating tax deductions The interest owner who has obtained Type 10 NTTCs must then return those NTTCs to the Department struction no later than December 31 2015 and is: submit the completed top portion of the page if filing Report A or the completed bottom portion of the page if filing Report tax must file Form RPD 41349 Report A Advanced Energy Gross Receipts Tax Deduction Report or RPD 41349 Report B Advanced Energy Compensating Tax Deduction Report as an informational attachment to the CRS 1 Form Combined Report System tax return must include a depreciation expense with respect to the eligible generation plant costs for which an advanced energy tax credit is sought or claimed Equipment depreciated under the accelerated cost recovery system Internal Revenue Code Section 168 and property for which the taxpayer makes that converts the otherwise lost energy from the exhaust stacks or pipes to electricity without combustion of additional fossil fuel that meets the following specifications: the compensating tax due The interest owner must attach a the CRS 1 Form and also attach Form RPD 41349 Report the interest in the eligible qualified generating facility must the qualified generating facility the taxpayer s certification as a qualified generating facility shall be revoked by NMED thermal units of total particulates in the flue gas; tion requirements of a qualified generating facility was in the Type 10 NTTC must report the deduction on the CRS 1 Form Combined Report System and if this deduction is taken also attach Form RPD 41349 Report A Advanced Energy Gross Receipts Tax Deduction Report stating the amount of advanced energy deductions taken The amount of the advanced energy deduction claimed against gross receipts tax should be reported in Column E on the CRS 1 Form along with other allowable deductions Value of eligible generation plant costs is the adjusted vanced energy compensating tax deductions for a qualified WHO MUST REPORT Taxpayers reporting an advanced en ergy deduction from either gross receipts tax or compensating with a name plate capacity of not more than fifteen megawatts year development of the qualified generating facility begins