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New Mexico NEW MEXICO PRESERVATION OF CULTURAL PROPERTY CREDIT (Corporate Income Tax)
CIT-4 (Obsolete) is obsolete, and is no longer supported by the New Mexico Department of Revenue.
Extracted from PDF file 2018-new-mexico-cit-4.pdf, last modified December 1969NEW MEXICO PRESERVATION OF CULTURAL PROPERTY CREDIT (Corporate Income Tax)
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CIT-4 (Obsolete)
More about the New Mexico CIT-4 (Obsolete) Corporate Income Tax Tax Credit
Obsolete The credit for preservation of cultural property is 50% of the approved eligible costs of a project for the restoration, rehabilitation, or preservation of cultural properties listed on the official New Mexico Register of Cultural Properties, not to exceed $25,000. For tax years beginning on or after January 1, 2009, if the property is also certified by the state coordinator of the New Mexico Arts and Cultural Districts as located within the boundaries of a state-certified or municipally-certified arts and cultural district, pursuant to the Arts and Cultural District Act, a maximum of $50,000 credit will be allowed. Any portion of the credit that remains unused at the end of the taxpayer's reporting period may be carried forward for four consecutive years. A taxpayer who files a New Mexico corporate income and franchise tax return and who is the owner of the cultural property may claim the credit. A member/owner of a partnership, LLC, S corporation, joint venture or similar business association that has qualified for the preservation of cultural properties credit, may claim the credit in proportion to the taxpayer's interest in the business association. The member/owner must complete Schedule A.
We last updated the NEW MEXICO PRESERVATION OF CULTURAL PROPERTY CREDIT (Corporate Income Tax) in April 2021, and the latest form we have available is for tax year 2018. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the New Mexico Taxation and Revenue Department. 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 FID-1-2018 (Obsolete) | Instructions for Form FID-1 Fiduciary Income Tax Return |
| Form CIT-1 Instructions | Instructions for Form CIT-1 Corporate Income and Franchise Tax Return |
| Form PTE-NM (Obsolete) | Information Return for Pass-Through Entities |
| Form PTE-NM Instructions (Obsolete) | Instructions for Form PTE Information Return for Pass-Through Entities |
| Form FID-1 NM | Fiduciary Income Tax Return |
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 CIT-4 (Obsolete) from the Taxation and Revenue Department in April 2021.
CIT-4 (Obsolete) is a New Mexico Corporate Income Tax 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.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
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