New Mexico Land Conservation Incentives Credit Claim Form

Land Conservation Incentives Credit Claim Form
Form RPD-41282
RPD-41282
Rev. 07/06/2016

State of New Mexico - Taxation and Revenue Department

Land Conservation Incentives Tax Credit Claim Form

Purpose of Form. Form RPD-41282, Land Conservation Incentives Tax Credit Claim Form, is used by a taxpayer whose
land or interest in land has been certified as eligible for treatment as a qualified donation by the Secretary of Energy, Minerals
and Natural Resources and who has been granted land conservation incentives tax credit by the New Mexico Taxation and
Revenue Department (TRD). This form can also be used by a taxpayer who has received the land conservation incentives tax
credit as the result of a transfer through a qualified intermediary, and the transfer has been recorded with TRD. The taxpayer
or holder of the credit may use this form to claim the credit against personal, corporate or fiduciary income tax liability. To
claim the credit, the taxpayer must attach a completed Form RPD-41282, Land Conservation Incentives Tax Credit Claim
Form, to a PIT-1, CIT-1, S-Corp, or FID return.
Mail the tax return and the claim form to the address on the tax return. For assistance completing this form, call (505) 8270792.
Social security number (SSN) or federal employer
identification number (FEIN) of holder

Name of holder

Mark one:	
	
Mailing address

Name of contact

FEIN
SSN

City, state and ZIP code

E-mail address

Phone number

Total Credit To Be Applied
1.	 Enter the beginning and ending date of the tax year of this claim.
	
Tax years beginning prior to January 1, 2006 are NOT eligible.

From

to

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 personal, fiduciary or corporate income tax return. Do not enter more than
the amount of Net New Mexico income tax due. In a tax year the credit used may not
exceed the amount of income tax otherwise due. Also attach a completed Schedule CR
for the applicable tax return.
4.	 If you claimed a charitable deduction on the federal personal income tax return
for the contribution of land for which credit is claimed, enter the amount of the
charitable deduction claimed on federal Form 1040, Schedule A, here. See the
instructions.

2.

$

3.

$

4.

Enter the credit amount claimed on the applicable line of the New Mexico income tax return--PIT-1, CIT-1, S-Corp, or FID.
The Land Conservation Incentives Tax Credit may be deducted only from the claimant’s New Mexico personal or corporate
income tax liability.
See the instructions for Form RPD-41282, posted on the web as a separate document.
NOTE: Failure to attach this form and other required attachments to your New Mexico income 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-41282
Rev. 07/06/2016

State of New Mexico - Taxation and Revenue Department

Land Conservation Incentives Tax Credit Claim Form
Schedule A

Once the credit application is approved, complete and attach Form RPD-41317, Land conservation incentives Tax Credit
Claim Form, including Schedule A, to your New Mexico income tax return along with the applicable tax credit Schedule PITCR, CIT-CR, S-Corp-CR or FID-CR.
(a)
Credit number

(b)
Date of qualified
donation

(c)
Amount of credit
approved

(d) Credit claimed
in previous tax years or
transferred

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

TOTAL credit available

Enter the sum of column (f) here and on
line 3 of Form RPD-41282, page 1.

(f)
Applied to the attached
return

RPD-41282
Rev. 07/06/2016

State of New Mexico - Taxation and Revenue Department

Land Conservation Incentives Tax Credit Claim Form
Schedule A Instructions

For each land conservation incentives tax credit approved or transfered to you, complete a row in Schedule A. Do not include
credits approved in a tax year that is more than twenty years prior to the tax year for which this claim is filed. Unused land
conservation incentives tax credits may not be carried forward for more than twenty years following the date of the qualified
donation. Do not include credits which have been claimed in full in prior tax years..
COLUMN INSTRUCTIONS
(a) Credit number. Enter the credit number assigned by the Taxation and Revenue Department on Form RPD-41335, Land
Conservation Incentives Credit Application. If the credit was transferred, enter the new credit number from Form RPD-41336,
Notice of Transfer of Land Conservation Incentives Tax Credit.
(b) Date of qualified donation. Enter the date of the qualified donation for which the land conservation incentives tax credit
has been certified as eligible. Enter this date as shown on Form RPD-41335, or if transferred from RPD-41336.
(c) Amount of credit approved. For each credit, enter the amount of credit approved as indicated on Form RPD-41335, or
if transferred, the amount transferred from Form RPD-41336.
(d) Credit claimed in previous tax years or transferred. For each credit, enter the total amount of credit claimed in all
tax years prior to the current tax year. If part of the credit was transferred, add the amount of credit transferred to another
taxpayer, together with 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 income tax return.
When calculating the amount in column (f), apply the following rules:
•	

Applying credits: Apply land conservation tax credits in the order that they were approved. If you have both a carryforward credit and new credit derived from a qualified donation during 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.

Also see the instructions for Form RPD-41282, posted on the web as a separate document.