Research and Development Gross Receipts Tax Deduction
R&D services exported from the state are deductible from the gross receipts tax.
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Research & Development Small Business Tax Credit
Qualified small businesses receive a tax credit equal to the sum of all gross receipts, compensating and withholding taxes due if at least 20% of their total annual expenses are for R&D.
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Rural Software and Web Site Gross Receipts Tax Deduction
Receipts from software and web development services located in rural New Mexico are deductible from the gross receipts tax.
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Technology Jobs Tax Credit
Tax credits up to 8% of expenditures (including payroll) available for research and development in urban areas, doubling to 16% in rural communities.
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