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New Mexico Agricultural Biomass Tax Credit Claim Form
Extracted from PDF file 2023-new-mexico-form-rpd-41361.pdf, last modified May 2020Agricultural Biomass Tax Credit Claim Form
RPD-41361 Rev. 05/20/2020 New Mexico Taxation and Revenue Department AGRICULTURAL BIOMASS TAX CREDIT CLAIM FORM Purpose of this Form. To apply the approved agricultural biomass tax credit to personal or corporate income tax due, submit Form RPD-41361, Agricultural Biomass Tax Credit Claim Form, with a PIT-1, CIT-1, S-Corp, or FID return for the tax year to which you wish to apply the credit. Excess agricultural biomass tax credit may be carried forward for a maximum of four consecutive taxable years following the year the New Mexico Taxation and Revenue Department (TRD) approved the credit. Attach this form to the return and mail to the address on the New Mexico income tax return. For assistance completing this form, obtaining TRD approval or claiming the credit, call (505) 827-0792 or e-mail [email protected]. For more information, see the instructions for this tax credit on Form RPD-41362. Name of owner of qualified facility Social security number or federal employer identification number Schedule A - Worksheet to compute the total excess credit available for carryforward (a) Credit number (b) Amount of credit approved (c) Total credit applied to previous tax liabilities (d) Excess credit available for carryforward [(b) - (c)] TOTAL excess credit available. Enter the sum of column (d). If supplemental pages are attached, enter the sum of column (d) from all pages. 1. Enter agricultural biomass income tax credits approved for the tax year of the attached return. 1. 2. Enter total unused agricultural biomass income tax credits available for carryforward from schedule A. 2. 3. Enter the sum of lines 1 and 2. This is the available agricultural biomass income tax credit that may be claimed against the attached New Mexico income tax return. 3. 4. Enter the portion of available credit claimed on your current New Mexico personal or corporate income tax return. 4. The credit applied to the attached return cannot exceed the amount of personal or corporate income tax liability otherwise due. You must first apply credit approved to be claimed for a tax year (Line 1), then you may apply excess credit available for carryforward from Line 2. When applying excess credit approved on prior year returns, apply the credit with the oldest approval date first. Enter the credit claimed on the applicable line of the New Mexico income tax PIT-1, CIT-1, S-Corp, or FID return.The agricultural biomass income tax credit may be deducted only from the claimant’s New Mexico personal or corporate income tax liability. NOTE: Failure to attach this form to your New Mexico personal or corporate income tax return will result in denial of the credit.
Form RPD-41361
More about the New Mexico Form RPD-41361 Other Tax Credit TY 2023
We last updated the Agricultural Biomass Tax Credit Claim Form in February 2024, so this is the latest version of Form RPD-41361, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form RPD-41361 directly from TaxFormFinder. You can print other New Mexico tax forms here.
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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 ACD-31102 | Tax Information Authorization |
| Form RPD-41272 | Calculation of Estimated PIT Underpayment Penalty Form |
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-41361 from the Taxation and Revenue Department in February 2024.
Form RPD-41361 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-41361
We have a total of thirteen past-year versions of Form RPD-41361 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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