Statutes > New Mexico Statutes > Chapter 7 - Taxation. > Article 9A - Investment Credit, 7-9A-1 through 7-9A-11. > Section 7-9A-5 - Investment credit; amount; claimant.

Section 7-9A-5 - Investment credit; amount; claimant.

7-9A-5. Investment credit; amount; claimant.

The investment credit provided for in the Investment Credit Act is an amount equal to the percent of the compensating tax rate provided for in the Gross Receipts and Compensating Tax Act [7-9-1 NMSA 1978] applied to the value of the qualified equipment and may be claimed by the taxpayer carrying on a manufacturing operation in New Mexico.