New Mexico Rural Job Tax Credit Claim Form

Rural Job Tax Credit Claim Form
Form RPD-41243
RPD-41243

Rev. 09/23/2021

State of New Mexico - Taxation and Revenue Department

RURAL JOB TAX CREDIT CLAIM FORM

PURPOSE OF THIS FORM: When claiming an approved Rural Job Tax Credit, this form must accompany the personal
income tax or corporate income tax return to which the taxpayer wishes to apply the credit. The holder of the credit may also
apply all or a portion of the Rural Job Tax Credit to their gross receipts tax (TRD-41413) less any taxes collected with respect
to local option gross receipts taxes, compensating tax (TRD-41412), and withholding taxes (TRD-41409 or TRD-41414) due,
less the amount of any credit other than the Rural Job Tax Credit applied (Prior to July 1, 2021, for these credits this credit
was claimed on the CRS-1). When computing the amount of technology jobs and research and development tax credit that
can be claimed against gross receipts tax, multiply the gross receipts by 3.9% if the location code reported is a municipality,
and 5.125% if the location code is anywhere else within or outside New Mexico.
The holder may also apply the credit to his personal or corporate income tax liability. If a pass-through entity (PTE) is a
holder of a credit, the PTE may pass the credit to its owners so that the owners may claim the credit against their corporate
or personal income tax liabilities. Use Form RPD-41365, Notice of Transfer of Rural Job Tax Credit, to report to Taxation
and Revenue Department a distribution of approved Rural Job Tax Credit to the owners, members or partners of a PTE. The
credit claim can be carried forward for a period of three years from the date the credit is issued. Any amount of credit not
claimed for a reporting period may be claimed in subsequent reporting periods. The original holder is the business to whom
the credit has been approved. When the credit is transferred to a new holder, notification to the New Mexico Taxation and
Revenue Department must be made within ten days of the transfer.
To claim the credit, attach this completed form to the return on which you wish to apply the credit on before the due date of
the return. You may apply this credit when you file your return online. Sign into Taxpayer Access Point (TAP) at https://tap.
state.nm.us, and follow the prompts to attach this form. To mail in, attach this form and any applicable payments to the tax
return and mail to the address on the return. For assistance claiming your approved credit, call (505) 827-0792.
Name of holder

Social security number (SSN) or federal employer
identification number (FEIN) of holder

Mark one:	

	
Mailing address

FEIN
SSN

City, state and ZIP code

New Mexico Business Tax Identification Number (NMBTIN)

E-mail address

Phone number

1.	 Enter the beginning and ending date of the tax year of this claim.

From

2.	 Enter the New Mexico tax less any local option gross receipts tax due on this return.
If applying against an income tax return, 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 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.

to
2.

$

3.

$

NOTE: Failure to attach this form and other required attachments to your New Mexico tax return
will result in denial of the credit.
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________________________________

RPD-41243

Rev. 09/23/2021

State of New Mexico - Taxation and Revenue Department

RURAL JOB TAX CREDIT CLAIM FORM
Schedule A

Once the Rural Job Tax Credit is approved, complete and attach Form RPD-41243, Rural Job Tax Credit Claim Form, including Schedule A, to your New Mexico tax return. When claiming the credit against taxes, also attach the applicable tax
credit Schedule CR.
(a)
Credit number

(b)
Date of approval

(c)
Amount of credit
approved

(d)
Credit previously
claimed

(e)
Unused credit [(c) - (d)]

TOTAL credit available

Enter the sum of column (f) here and on
line 3 of Form RPD-41243.

(f)
Applied to the attached
return

RPD-41243

Rev. 09/23/2021

State of New Mexico - Taxation and Revenue Department

RURAL JOB TAX CREDIT CLAIM FORM
Instructions
Schedule A Instructions

For each Rural Job 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) Date of approval. Enter the date of the Department's approval for the credit 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 tax years prior to the current
tax year.
(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 rural job tax credits in the order that they were approved.

•	

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 tax due on the New Mexico tax return.
NOTE: Failure to attach this form and other required attachments to your New Mexico tax return
will result in denial of the credit.