Form RPD-41371 Application for Veteran Employment Tax Credit

in a different tax year occurred during this tax year A separate application must be submitted for qualified periods of employment that occurred Taxpayer Authorized Signature Date *Attach Form(s) RPD 41370 Certification of Eligibility for the Veteran Employment Tax Credit 1 Enter the employer s tax year in which the eligible employment took place through (mm dd yyyy) (mm dd yyyy) 2 Enter the number of certifications* attached: A certification for each military veteran whose qualified period of employment occurred during the tax year of this application must be attached 3 Enter the sum of the veteran employment tax credit (from line 10 of each certification attached) A maximum of $1 000 for each qualified military veteran in tax year is allowed 3 Enter the total veteran employment tax credit requested: Enter the sum of the tax credit requested (from line 10) from each certification included in this application A "qualified military veteran" means an individual who is hired within two years of receipt of an honorable discharge from a branch of the U S military who works at least 40 hours per week during the taxable year for which the veteran employment tax credit is claimed and who was not previously A husband and wife filing separate returns for a tax year for which they could have filed a joint return each may claim only one half of the veteran employment tax credit that would have been claimed on a joint return An owner member or partner (owners) may be allocated the right to claim a veteran employment tax credit in proportion to its ownership interest if the taxpayer owns an interest in a business entity that is taxed for federal income tax purposes as a partnership To allocate the credit to the owners of the business entity qualify ing for the credit complete Part II The total credit that may a taxpayer s income tax liability in the tax year in which the able year in which the credit is claimed will not be refunded but may be carried forward for up to three years ABOUT THIS TAX CREDIT: amount of the approved veteran employment credit that exceeds your income tax or corporate income tax liability in the tax An employer may not receive the credit for any individual qualified military veteran for more than one calendar year from the date of hire An owner member or partner (owners) may be allocated the right to claim a veteran employment tax credit in proportion to its ownership interest if the taxpayer owns an interest in a business entity that is taxed for federal income tax purposes as a partner ship To allocate the credit to the owners of the business entity qualifying for the credit complete the following for each owner The total credit that may be claimed by all members of the partnership or other business entity shall not exceed the allowable credit approved If additional space is needed continue the list on a copy of this page APPLICATION FOR VETERAN EMPLOYMENT TAX CREDIT APPLICATION FOR VETERAN EMPLOYMENT TAX CREDIT applications for the same tax year will be denied Applications will be processed in the order in which they are received Approved by: Title: ATTACHMENTS: Authorized by the New Mexico Taxation and Revenue Department be claimed by all members of the partnership or other busi Certification of Eligibility for the Veteran Employment Complete all information requested Enter the date using a two digit month and day and a four digit year (mm/dd/yyyy) DD Form 214 should be approved through the Department before submitting the application The Department may re quest additional information establishing that the employee DEFINITIONS: Distributed to: Enter the employer's tax year in which the eligible em ployment took place Enter the first and last day of the tax year Enter the date using a two digit month and day and a four digit year (mm/dd/yyyy) Enter the name address and the New Mexico CRS identifica tion number of the employer The physical address should be the address where the business is located or based Enter the mailing address if it is a different address Enter the number of certifications (Form RPD 41370 Excess credit may be carried forward for three years Mail all forms to the address on the tax return Failure to properly complete the application and submit any required documents may result in a denial of the credit FOR DEPARTMENT USE ONLY for each qualified military veteran included in the total credit which is summarized on the application Form RPD 41371 An application can include multiple certifications for multiple qualified military veterans for the tax year of the application Submit the application and certifications to the Taxation and Revenue Department for approval prior to claiming the credit Once ap proved you may claim the credit against your personal or corporate income tax due by attaching Form RPD 41372 Veteran Employment Tax Credit Claim Form to the tax return for the tax year in which you employ the qualified military veteran The For multiple claims received for the same qualified mili tary veteran the dates of employment will be compared to ensure that a credit is allowed for only one full year of employment For status of the application call (505) 827 6811 For tax years beginning on or after January 1 2012 but not after December 31 2016 a taxpayer who employs a quali fied military veteran for at least 40 hours per week in New Mexico is eligible for a credit against the taxpayer s personal or corporate income tax liability for up to $1 000 for wages paid to each qualified military veteran If the veteran s quali fied period of employment is less than a full year the credit for that year is reduced based on the ratio of the qualified period of employment over the full tax year of the employer funded to the taxpayer but may be carried forward for up to three years The veteran employment tax credit may not be transferred to another taxpayer How to Apply For This Tax Credit: To apply for the credit you must complete Form RPD 41371 Application for Veteran Employment Tax Credit and attach a Form RPD 41370 Certification of Eligibility for the Veteran Employment Tax Credit HOW TO CLAIM THIS TAX CREDIT: HOW TO COMPLETE THIS FORM: I declare I have examined this application including attachments and to the best of my knowledge and belief it is true correct and complete If the veteran was employed across multiple tax years include only certifications for qualified periods of employment that IMPORTANT INFORMATION TO KNOW ABOUT THE APPROVAL OF THE CREDIT: INSTRUCTIONS INSTRUCTIONS Page 1 of 2 is a qualified military veteran Mail to: Mail to: Taxation and Revenue Department P O Box 5418 Santa Fe NM 87502 5418 Mailing address if different City state and ZIP code ment The document must show the date the military veteran was honorably discharged from a branch of the United States military Evidence other than the qualified military veteran s Multiple employers may not receive a credit for more than one year combined for the same qualified military veteran Name of contact Phone number E mail address Name of eligible employer New Mexico CRS identification no Name of owner member or partner SSN Percent of ownership Amount Name of owner member or partner SSN Percent of ownership Amount Name of owner member or partner SSN Percent of ownership Amount Name of owner member or partner SSN Percent of ownership Amount Name of owner member or partner SSN Percent of ownership Amount Name of owner member or partner SSN Percent of ownership Amount ness entity shall not exceed the allowable credit approved Once a qualified military veteran is approved on an ap plication for a tax year any credit requested by another employer for the same military veteran on subsequent Once approved you may claim the credit against your per Only one employer may receive the credit for a specific veteran during a tax year P O Box 5418 Page 2 of 2 Part II Distribution of credit to owners members or partners if the employer files a partnership return Physical address City state and ZIP code Santa Fe NM 87502 5418 Sign and date the application sonal or corporate income tax due by attaching Form RPD employed by the taxpayer prior to the individual s deployment 41372 Veteran Employment Tax Credit Claim Form to the STATE OF NEW MEXICO STATE OF NEW MEXICO Tax Credit) attached and included in this application tax return for the tax year in which you employ the veteran work an average of 40 hours or more per week Taxation and Revenue Department TAXATION AND REVENUE DEPARTMENT TAXATION AND REVENUE DEPARTMENT Telephone number: Date: That portion of a veteran employment tax credit approved by Taxation and Revenue Department (TRD) that exceeds The date of discharge may not exceed two years from the date the employer hired the military veteran The qualified military veteran must work or be expected to The taxpayer must provide a copy of the qualified military veteran s DD Form 214 Certificate of Release or Discharge from Active Duty or other evidence acceptable to the Depart The veteran employment tax credit is only allowed for the employment of a veteran who was not previously em ployed by the taxpayer prior to the individual s deployment Total veteran employment tax credit Veteran Employment Tax Credit amount approved: $ Claim number: STATE OF NEW MEXICO veteran employment tax credit is claimed may not be re When the period of employment beginning from the date of hire through the first year crosses two tax years one application for each tax year for the same qualified military veteran may be approved Who May Use This Form Form RPD 41371 Application for the Veteran Employment Tax Credit is to be used by eligible employers to apply for the veteran employment tax credit