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New Mexico Free Printable  for 2024 New Mexico Job Mentorship Tax Credit Claim Form

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Job Mentorship Tax Credit Claim Form
Form RPD-41281

RPD-41281 Rev. 08/17/2015 State of New Mexico - Taxation and Revenue Department Job Mentorship Tax Credit Claim Form Purpose of Form. Form RPD-41281, Job Mentorship Tax Credit Claim Form, is used by a taxpayer who is not a dependent of another taxpayer and who is an owner, partner or associate of a New Mexico business that employs qualified students in a career preparation education program sponsored by an accredited New Mexico secondary school. The taxpayer may claim a Job Mentorship Tax Credit for each taxable year in which the business employs one or more qualified students. (*See Important Definitions in the instructions.) To claim the credit, the taxpayer must submit this form and all required attachments with its personal or corporate income tax return. Form RPD-41280, Job Mentorship Tax Credit Certificate, must be attached for each qualified student employed and included in this claim. See the instructions. Name of Qualified New Mexico Business (Employer) New Mexico CRS Identification No. Street Address City, State and ZIP Code Mailing Address City, State and ZIP Code Name of Contact Phone Number E-mail Address 1. Enter the beginning and ending dates of the tax year of this claim: From to 2. Enter the amount from line 6, Form RPD-41281, Job Mentorship Tax Credit Claim Form, Detail Report. You must attach a copy of the detail report to this claim form. 2. 3. Calculate the total unused credit available for carry forward from prior years from the worksheet on Schedule A and enter here. Include a copy of Schedule A with this claim form. 3. 4. Enter the sum of lines 2 and 3. This is the total credit available in the current tax year for the qualified New Mexico business. 5. Enter the portion of total credit available (from line 4) claimed on your current New Mexico income tax return. The aggregate credit claimed by a business in any tax year cannot be greater than $12,000. If the credit is to be claimed by two or more owners, partners or associates, complete the Division of Total Available Credit Report in Schedule A. Each owner, partner or associate enters on this line only the amount claimed on the individual return. Include a copy of Schedule A with each claim form filed. 4. 5. Enter the credit claimed on the applicable line of the New Mexico income tax form, PIT-1, FID-1, CIT-1 or S-Corp. The Job Mentorship Tax Credit may only be deducted from the taxpayer’s New Mexico income tax liability. NOTE: Failure to attach this form and required attachments to your return will result in denial of the credit. For assistance, call (505) 827-0792. I certify that: (You must check the box.) the hiring of the qualified student(s) included in this claim does not displace or replace a current employee. Under penalty of perjury I declare that I have examined this claim, and to the best of my knowledge and belief it is true, correct and complete. Signature of claimant Date Column A Name of qualified student (Enter 1, 2 or 3) Enter the number of years the student has been claimed. Column B Claim year Column D Gross wages paid to the qualified student during the tax year, for no more than 320 hours of employment. Column E Number of hours employed for which you reported gross wages in column D. Line 6. Total job mentorship tax credit allowed. Enter the sum of column F, but not more than $12,000. Also enter this amount on page 1 of RPD-41281. Column C Qualified student’s social security number (SSN) State of New Mexico - Taxation and Revenue Department Job Mentorship Tax Credit Claim Form Detail Report Column F Amount of the credit allowed for this employee. Multiply column D by 0.5 (50%). RPD-41281 Rev. 08/17/2015 RPD-41281 Rev. 08/17/2015 State of New Mexico - Taxation & Revenue Department Job Mentorship Tax Credit Instructions ABOUT THIS CREDIT To encourage New Mexico businesses to hire youth participating in career preparation education programs, a New Mexico business may claim a credit equal to fifty percent of gross wages paid to qualified students who are employed by the business during the taxable year. See Important Definitions below. For assistance completing this form, call (505) 827-0792. The following restrictions apply: • The credit cannot be allowed for more than 10 qualified students by a business in a taxable year, • The credit cannot be allowed for more than 50% of gross wages paid on the first 320 hours of employment for each qualified student, • A credit for a qualified student cannot be allowed for more than three tax years, and • No taxpayer may claim a credit in excess of $12,000 in any taxable year. Important Definitions Career Preparation Education Program means a work-based learning or school-to-career program designed for secondary school students to create academic and career goals and objectives and find employment in a job meeting those goals and objectives. New Mexico Business means a corporation, a partnership, limited partnership, limited liability company treated as a partnership for federal income tax purposes, S corporation or sole proprietorship that carries on a trade or business in New Mexico and employs in New Mexico fewer than 300 full-time employees at any one time during the tax year. Qualified Student means an individual who is at least 14 years old, but not more than 21 years old, who is attending an accredited New Mexico secondary school full-time and who is a participant in a career preparation education program sanctioned by the secondary school. HOW TO OBTAIN CERTIFICATES AND CLAIM THE CREDIT The Taxation and Revenue Department issues certificates to a school according to the number of qualified students in the program on October 15 of that school year. To obtain the certificates, the school principal completes and submits Form RPD-41279, New Mexico Job Mentorship Tax Credit Certificate Request Form, to a local district tax office. See the local district office information included with these instructions. The Job Mentorship Tax Credit Certificate (Form RPD-41280) is executed by the school principal and transferred to a New Mexico business (employer) participating in the school-sanctioned career preparation education program sponsored by the school. A certificate specifies the qualified student and the school year to which the certificate applies. A certificate cannot be transferred to another business, another school year or another qualified student. To claim the credit, the employer must complete Form RPD-41281, Job Mentorship Tax Credit Claim Form, the accompanying Detail Report, and attach them to the personal, corporate or fiduciary income tax return for the tax year in which the qualified student was employed. Attach Schedule A to RPD-41281, Job Mentorship Tax Credit Claim Form, if you have unused job mentorship tax credit available for carry forward from prior years, or your total available credit can be claimed by one or more owners, partners or associates. Married individuals who file separate returns for a tax year in which they could have filed a joint return may each claim only one-half of the credit that would have been allowed on a joint return. A taxpayer who qualifies for and claims a job mentorship tax credit for employment of qualified students by a partnership, limited partnership, limited liability company, S corporation or other business association of which the taxpayer is a member may claim a credit only in proportion to his interest. The total credit claimed by all owners, partners or associates of the business shall not exceed the maximum credit allowed by the employer in any tax year. Also attach a copy of an executed Form RPD-41280, Job Mentorship Tax Credit Certificate, for each qualified student employed during the tax year of the claim. The job mentorship tax credit may only be deducted from the taxpayer’s New Mexico income tax liability for the tax year. Any unused portion of the credit allowed may be carried forward for three consecutive tax years, under certain conditions. Form RPD-41279, New Mexico Job Mentorship Tax Credit Certificate Request Form, and Form RPD-41281, Job Mentorship Tax Credit Claim Form, can be found on the Department’s web site, www.tax.newmexico.gov. Click on “Forms and Publications”, then click “Tax Credits”, and click on Job Mentorship. RPD-41281 Rev. 08/17/2015 State of New Mexico - Taxation & Revenue Department Job Mentorship Tax Credit Claim Form Schedule A Attach Schedule A to RPD-41281, Job Mentorship Tax Credit Claim Form, if you have unused job mentorship tax credit available for carry forward from prior years, or your total available credit can be claimed by one or more owners, partners or associates. Worksheet to calculate the total unused credit available for carry forward from prior years (a) Tax year of previously allowed credit. Enter the tax year for each credit allowed in a previous tax year. Do not include any credit allowed for a tax year more than three years prior to the current tax year. Enter the tax year if the credit was allowed for a full calendar year. For fiscal-year and short-year returns, enter the beginning and ending dates of the tax year. For example, enter 2003 if the tax year is a calendar year, or enter July 1, 2002, to June 30, 2003, if the tax year is a fiscal year. (b) Credit allowed in the previous tax year. For each credit allowed in a previous tax year listed in column (a), enter the total amount of credit allowed by the Department for the business on Form RPD-41281, filed for that year. (c) Total credit claimed in previous tax years. For each credit allowed in a previous tax year listed in column (a), enter the total amount of credit claimed on prior year returns. For each tax year, current-year credits are applied before applying carry forward credits. (d) Unused credit available for carry forward from prior years. Subtract column (c) from column (b). Enter the sum of all amounts in column (d) on line 3 of the current year claim form, RPD-41281. If the prior year credit allowed was divided between the owners, partners or associates eligible to claim the job mentorship tax credit, enter only the portion of the credit that you were allowed and have claimed in prior tax years in this schedule. (a) Tax year of previously allowed credit (b) Credit allowed in previous tax year (c) Total credit claimed in (d) Unused credit available for carry previous tax years forward [(b) - (c)] Division of the Total Available Credit Report If the job mentorship tax credit for the New Mexico business is divided among two or more owners, partners or associates, complete the following information for each eligible owner, partner, or associate below. Enter the name and address of all business owners, partners or associates eligible to claim a portion of the total job mentorship tax credit available to be claimed in the current tax year. Enter the federal employer identification number (FEIN) or the social security number (SSN) used to file each owner’s, partner’s or associate’s New Mexico income tax return. Enter the percentage which represents the owner’s, partner’s or associate’s interest in the partnership, limited partnership, limited liability company, S corporation or other business association. If additional space is needed, attach a separate schedule. Name and address of owner, partner or associate FEIN or SSN Percentage of interest Name and address of owner, partner or associate FEIN or SSN Percentage of interest Name and address of owner, partner or associate FEIN or SSN Percentage of interest Name and address of owner, partner or associate FEIN or SSN Percentage of interest Name and address of owner, partner or associate FEIN or SSN Percentage of interest
Extracted from PDF file 2023-new-mexico-form-rpd-41281.pdf, last modified August 2015

More about the New Mexico Form RPD-41281 Other Tax Credit TY 2023

We last updated the Job Mentorship Tax Credit Claim Form in February 2024, so this is the latest version of Form RPD-41281, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form RPD-41281 directly from TaxFormFinder. You can print other New Mexico tax forms here.

Other New Mexico Other Forms:

TaxFormFinder has an additional 80 New Mexico income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form RPD-41317 Solar Market Development Income Tax Credit Claim F
Form RPD-41083 Affidavit to Obtain Refund of NM Tax due a Deceased Taxpayer
Form RPD-41285 (Obsolete) Annual Statement of Withholding of Oil and Gas Proceeds
Form RPD-41272 Calculation of Estimated PIT Underpayment Penalty Form
Form ACD-31102 Tax Information Authorization

Download all NM tax forms View all 81 New Mexico Income Tax Forms


Form Sources:

New Mexico usually releases forms for the current tax year between January and April. We last updated New Mexico Form RPD-41281 from the Taxation and Revenue Department in February 2024.

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Form RPD-41281 is a New Mexico Other form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

Historical Past-Year Versions of New Mexico Form RPD-41281

We have a total of eleven past-year versions of Form RPD-41281 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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