There is a newer version of the New Mexico Statutes
2011 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.
NM Stat § 7-9A-5 (1996 through 1st Sess 50th Legis) What's This?
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.
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