×
tax forms found in
Tax Form Code
Tax Form Name

New Mexico Free Printable  for 2024 New Mexico Veteran Employment Tax Credit Claim Form

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2023-new-mexico-form-rpd-41372.pdf, and you can print it directly from your computer.

Veteran Employment Tax Credit Claim Form
Form RPD-41372

RPD-41372 Rev. 08/20/2015 State of New Mexico - Taxation and Revenue Department VETERAN EMPLOYMENT TAX CREDIT CLAIM FORM HOW TO USE THIS FORM. When claiming a veteran employment tax credit, this form must accompany the tax return to which the taxpayer wishes to apply the credit. NOTE: Excess credit may not be refunded to the taxpayer, but may be carried forward for up to three years. Please see the instructions to determine the correct amount that can be applied to any return. Attach this form to the tax return to which you wish to apply the credit and mail to the address on the tax return. For assistance claiming this credit call (505) 827-0792. ABOUT THIS TAX CREDIT For tax years beginning on or after January 1, 2012 but not after December 31, 2016, a taxpayer who employs a qualified military veteran in New Mexico is eligible for a credit against the taxpayer’s personal or corporate income tax liability for up to $1,000 for wages paid to each qualified military veteran who is employed full time in New Mexico. If the veteran is employed for less than a full year, the credit for that year is reduced based on the fraction of the year the veteran was actually employed. The credits allowed per veteran are limited to a maximum of one year’s employment. See the instructions for Form RPD-41371, Application for Veteran Employment Tax Credit, for additional requirements. To apply for the credit, submit a completed Form RPD-41371, Application for Veteran Employment Tax Credit, to the Taxation and Revenue Department (TRD). See Form RPD-41371 for details on obtaining approval. Once you have been approved for the credit by TRD you may use this Form RPD-41372, Veteran Employment Tax Credit Claim Form, to claim the credit against your personal or corporate income tax liability due. When claiming approved veteran employment tax credit(s), this form must accompany the tax return to which the taxpayer wishes to apply the credit. That portion of a veteran employment tax credit approved by TRD that exceeds a taxpayer’s income tax liability in the tax year in which the veteran employment tax credit is claimed may not be refunded to the taxpayer, but may be carried forward for up to three years. Enter the FEIN or the SSN of the claimant Name of taxpayer (claimant) Check one: FEIN SSN Computation of the Amount of Tax Credit Claimed 1. Enter the beginning and ending date of the report period to which you wish to apply approved veteran employment tax credit. 2. Enter the net New Mexico income tax calculated before applying any credit. 3. Enter the portion of total credit available (from Schedule A) claimed on your current New Mexico PIT-1, CIT-1, S-Corp or FID-1 tax return. Do not enter more than the amount of Net New Mexico tax due. The credit used may not exceed the amount of tax otherwise due. Also attach a completed Schedule CR for the applicable tax program. From to 2. $ 3. $ Enter the credit claimed on the applicable line of the New Mexico income tax Schedule PIT-CR, CIT-CR, S-Corp-CR, or FID-CR, and attach it to the New Mexico income tax return to which the credit is to be applied. The veteran employment 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. I certify that I have examined this return including accompanying returns and statements, and to the best of my knowledge and belief, they are true, correct and complete. Signature of Taxpayer or Agent Title Date RPD-41372 Rev. 08/20/2015 State of New Mexico - Taxation and Revenue Department VETERAN EMPLOYMENT TAX CREDIT CLAIM FORM Schedule A Once the veteran employment tax credit is approved, complete and attach Form RPD-41372, Veteran Employment Tax Credit Claim Form, including Schedule A, to your New Mexico tax return. If claiming the credit against income taxes, also attach the applicable tax credit Schedule PIT-CR, CIT-CR, S-Corp-CR or FID-CR. (a) TRD - approval # (b) Year of approval (c) Amount of credit approved (d) Total credit claimed in previous tax years (e) Unused credit [(c) - (d)] TOTAL credit available Enter the sum of column (f) here and on line 3 of Form RPD-41372, page 1. (f) Applied to the attached return RPD-41372 Rev. 08/20/2015 State of New Mexico - Taxation and Revenue Department VETERAN EMPLOYMENT TAX CREDIT CLAIM FORM INSTRUCTIONS The veteran employment tax credit may not be transferred to another taxpayer, but the right to claim the credit may be allocated to the owners of a business entity that is taxed federally as a partnership. The credit may be allocated to owners in proportion to the owner’s interest in the business. See Form RPD-41371, Application for Veteran Employment Tax Credit, for allocating the credit. Married individuals filing separate returns for a tax year for which they could have filed a joint return, each may claim only one-half of the veteran employment tax credit that would have been claimed on a joint return. HOW TO COMPLETE THIS FORM Enter the name of the claimant and the claimant’s federal identification number (FEIN) or social security number (SSN). Indicate whether the number is the FEIN or the SSN by checking the applicable box. On line 1, enter the beginning and ending date of the report period to which you wish to apply the approved credit. Complete lines 2 and 3 showing the net New Mexico tax due and the amount of credit claimed. All claimants must complete and attach Schedule A reporting each credit claimed. NOTE: Excess credit may not be refunded to the taxpayer, but may be carried forward for up to three years. Attach this claim form (RPD-41372) to the tax return to which you wish to apply the veteran employment tax credit. Approved credit should first be applied to the tax due for the year in which the wages were paid. Then apply the carryforward of approved credits for wages paid in a prior year. Excess credit may not be refunded to the taxpayer, but may be carried forward for up to three years. Schedule A Instructions For each veteran employment tax credit approved, complete a row in Schedule A. Do not include credits which have been claimed in full. COLUMN INSTRUCTIONS (a) Credit number. Enter the credit number assigned by the Taxation and Revenue Department on your approval documentation. (b) Year of approval. Enter the employer’s tax year in which the eligible employment took place from your approval documentation. (c) Amount of credit approved. For each credit, enter the amount of credit approved. (d) Credit previously claimed. For each credit, enter the total amount of credit claimed in all report periods prior to the current report period. (e) Unused credit. For each credit, subtract the amount in column (d) from the amount in column (c). (f) Applied to the attached return. For each credit, enter in column (f) the amount that is applied to the attached New Mexico tax return. When calculating the amount in column (f), apply the following rules: • Applying credits: Apply veteran employment tax credits in the order that they were approved. If you have both a carry-forward credit and new credit for the current tax year, apply the oldest credit against the income tax liability first. • The maximum amount of credit claimed in a tax year. The sum of tax credits applied to the tax due on the return may not exceed the income tax claimed on the New Mexico income tax return. That amount is the net New Mexico income tax calculated before applying any tax credits claimed. NOTE: Failure to attach this form and other required attachments to your New Mexico tax return will result in denial of the credit.
Extracted from PDF file 2023-new-mexico-form-rpd-41372.pdf, last modified August 2015

More about the New Mexico Form RPD-41372 Other Tax Credit TY 2023

This form is to be used by veterans only.

We last updated the Veteran Employment Tax Credit Claim Form in February 2024, so this is the latest version of Form RPD-41372, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form RPD-41372 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-41372 from the Taxation and Revenue Department in February 2024.

Show Sources >

Form RPD-41372 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-41372

We have a total of thirteen past-year versions of Form RPD-41372 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



TaxFormFinder Disclaimer:

While we do our best to keep our list of New Mexico Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/index.php/newmexico/form-rpd-41372