New Mexico Sustainable Building Tax Credit Claim Form

Sustainable Building Tax Credit Claim Form
Form RPD-41329
RPD-41329
Rev. 04/11/2016

State of New Mexico - Taxation and Revenue Department
SUSTAINABLE BUILDING TAX CREDIT
CLAIM FORM

Purpose of This Form. Once you have received your approved RPD-41327, Sustainable Building Tax Credit Approval, you
can apply your sustainable building tax credit to personal or corporate income tax due by submitting Form RPD-41329, Sustainable Building Tax Credit Claim Form, with Form PIT-1, CIT-1, S-Corp, or FID-1 for the tax year to which you are applying
the credit. You may carry forward excess sustainable building tax credit for seven tax years from the tax year for which the
credit or portion of credit was approved. See RPD-41327 instructions for more information on this tax credit.
Sign, date, and attach this form to your return and mail to the address on the New Mexico income tax return. To obtain the certificate of eligibility for the credit, contact the Energy Conservation and Management Division at (505) 476-3320 or visit www.
emnrd.state.nm.us/ecmd. For help completing this form, obtaining TRD approval, or claiming the credit, call (505) 827-0792.
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

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

From

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 New Mexico
personal, corporate or fiduciary income tax return. Do not enter more than the amount
of net New Mexico personal, corporate or fiduciary 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.

to

2.

3.

You must first apply the credit approved for the current tax year. If your tax due exceeds the amount of credit approved in
the current tax year, you may apply excess credit available for carryforward from prior years. When applying excess credit
approved on prior year returns, apply the credit with the oldest approval date first.
The sustainable building tax credit may be deducted either from the claimant’s New Mexico personal or corporate income
tax liability.
IMPORTANT: Failure to attach this signed form to your New Mexico personal or corporate income tax return results
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-41329
Rev. 04/11/2016

State of New Mexico - Taxation and Revenue Department
SUSTAINABLE BUILDING TAX CREDIT
CLAIM FORM
Schedule A

Complete and attach Form RPD-41329, Sustainable Building Tax Credit Claim Form, including Schedule A, to your New
Mexico income tax return along with the tax credit Schedule CR for the tax program you are applying the credit towards.

(a)
Credit number

(b)
First eligible tax year

(c)
Amount of credit
approved

(d)
Total credit claimed
in previous tax years

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

TOTAL credit applied

Enter the sum of column (f) here and on
line 3 of Form RPD-41329, page 1.

(f)
Applied to the attached
return

RPD-41329
Rev. 04/11/2016

State of New Mexico - Taxation and Revenue Department
SUSTAINABLE BUILDING TAX CREDIT
CLAIM FORM

ABOUT THIS CREDIT

The purpose of the sustainable building tax credit is to
encourage the construction of sustainable buildings
and the renovation of existing buildings into sustainable
buildings. For tax years ending on or before December 31,
2016, the sustainable building tax credit is available for the
construction in New Mexico of a sustainable building, for
the renovation of an existing building in New Mexico into
a sustainable building, or for the permanent installation
of manufactured housing in New Mexico, regardless of
where the housing is manufactured, that is a sustainable
building.
For tax years beginning on or after January 1, 2017,
but ending on or before December 31, 2026, the new
sustainable building tax credit is available for the
construction in New Mexico of a sustainable building,
the renovation of an existing building in New Mexico into
a sustainable building, or for the permanent installation
of manufactured housing in New Mexico, regardless of
where the housing is manufactured, that is a sustainable
building. See From RPD-41382, New Sustainable Building
Tax Credit Approval, for details.
The credit is available to the building owner of residential
and commercial buildings, after the construction,
installation, or renovation of the sustainable building is
complete.
To be eligible, the building owner must obtain a certificate
of eligibility issued by the Energy, Minerals and Natural
Resources Department (EMNRD), and then obtain
approval from the New Mexico Taxation and Revenue
Department (TRD). To claim the credit, the taxpayer must
submit Form RPD-41329 with the taxpayer’s income tax
return.
See the instructions for Form RPD-41327, Sustainable
Building Tax Credit Approval, for more details.
Tax Credit Forms
The following list shows all the forms for sustainable
building tax credits:
•	 RPD-41327, Sustainable Building Tax Credit Approval
•	 RPD-41329, Sustainable Building Tax Credit Claim
Form
•	 RPD-41342, Notice of Transfer of Sustainable Building
Tax Credit
Using the Correct Tax Credit Forms
For tax years beginning on or after January 1, 2017,
but ending on or before December 31, 2026, the

Page 1 of 3

new sustainable building tax credit is available for the
construction in New Mexico of a sustainable building,
the renovation of an existing building in New Mexico into
a sustainable building, or for the permanent installation
of manufactured housing in New Mexico, regardless of
where the housing is manufactured, that is a sustainable
building. See From RPD-41382, New Sustainable Building
Tax Credit Approval, for details, and Form RPD-41383, for
claiming the credit.
Sale, Exchange, or Transfer of the Tax Credit
When a holder or owner receives TRD approval, the credit
may be sold, exchanged, or otherwise transferred. Form
RPD-41342, Notice of Transfer of Sustainable Building
Tax Credit, must be used to report to TRD a transfer of
approved sustainable building tax credit. Notice must be
provided to TRD within 10 days of a sale, exchange, or
other transfer. TRD issues the new holder an approval for
the credit transfer, a new credit number, and instructions
for applying the credit to ncome tax due.
The amount of the credit allowed to a holder who sells,
exchanges or transfers their credit to another taxpayer,
may not be split or divided between taxpayers. The total
amount of credit allowed, as shown on the TRD-approved
document provided to the holder, must either be claimed
or otherwise transferred by the holder. The TRD-approved
document will be either Form RPD-41327, Sustainable
Building Tax Credit Approval, or a TRD-approved Form
RPD-41342, Notice of Transfer of Sustainable Building
Tax Credit, depending on the how the previous holder
received TRD approval for the credit.
If, however, the holder is a partnership or other business
association that passes the credit to its owners, each
owner may claim a credit only in proportion to that owner’s
interest in the partnership or other business association.
The total credit claimed by all owners may not exceed
the amount of the credit that could have been claimed
by the holder.
Note: Once a credit is claimed by a holder or owner,
the carryforward may not be further sold, exchanged or
transferred.
An original building owner that is a partnership or other
business association may pass TRD-approved credit to its
owners, by completing Sections I and II of Form RPD-41327,
Sustainable Building Tax Credit Approval, and submitting a
Form RPD-41327 for each owner.

RPD-41329
Rev. 04/11/2016

State of New Mexico - Taxation and Revenue Department
SUSTAINABLE BUILDING TAX CREDIT
CLAIM FORM

How You Can Claim the Approved Credit
Holders or owners can claim the approved sustainable
building tax credit against their personal, corporate or
fiduciary income tax liability for the tax year subject to the
rules described next. If the amount of the credit available in
a tax year exceeds the liability for that tax year, holders or
owners can carryforward the excess for up to seven years.
The holder or owner must first claim the credit in the year
they are eligible to claim the credit or the portion of the
credit before the carryforward can be claimed. This is true
even if no tax is due.

Page 2 of 3

Line 2. Enter the net New Mexico income tax calculated
before applying any credit. Calculate the Net New
Mexico income tax using the instructions on the
form without subtracting any credits, from any
source.
Complete Schedule A, using the instructions in the next
section.
Line 3. Enter the total credit to be applied to the net New
Mexico income tax, from Schedule A, column (f).
The amount entered on line 3, cannot exceed the
net New Mexico income tax entered on line 2.
Additionally, all credits, from any source, may not
exceed the Net New Mexico income tax entered
on line 2.

Effective January 1, 2014, if the total approved amount of
all sustainable building tax credits in a tax year is:
•	 $100,000 or more, 25% of the total credit amount is
applied against the holder’s personal or corporate
income tax liability in the tax year in which the credit
is approved, and 25% in each of the next three
subsequent tax years.
•	 Less than $100,000, a maximum of $25,000 is
applied against the holder’s personal or corporate
income tax liability for the tax year in which the credit
is approved, and a maximum of $25,000 for the next
three subsequent tax years as needed until the total
credit is applied.

Sign, date and attach this form to your New Mexico income
tax return. Also, complete and attach the Schedule CR
for your return.

Prior to January 1, 2014, if the amount of the sustainable
building tax credit represented by TRD approval is $25,000
or more, the credit must be applied for the tax year in which
the credit is approved and for the next three subsequent
tax years, in increments of 25% of the total credit amount in
each of the four tax years. If the amount of the sustainable
building tax credit approved by TRD is less than $25,000,
the entire amount of the credit may be applied in the tax
year in which the credit is approved.

Column Instructions
(a) Credit number. Enter the credit number assigned by
the Taxation and Revenue Department (TRD) for each
sustainable building tax credit approved by TRD. The
credit number is provided on Form RPD-41327, Sustainable Building Tax Credit Approval. If the credit was
transferred to you, enter the new credit number assigned
by TRD on Form RPD-41342, Notice of Transfer of Sustainable Building Tax Credit.

In all cases, you may carryforward any excess from a
credit that has been claimed for up to seven years. Married
individuals who file separate returns for a tax year in which
they could have filed a joint return may each claim only
one-half of the sustainable building credit that would have
been allowed on a joint return.

Do not enter a credit if the credit was not approved by
TRD or if the credit is no longer available for carryforward.
Excess sustainable building tax credits may only be carried forward for seven years following the tax year that
the allowable credit is first claimed.

Completing Form RPD-41329
Complete the name, address, SSN or FEIN and contact
information of the owner or the holder claiming the credit.
Line 1. Enter the beginning and ending date of the tax
year for the New Mexico income tax return on
which you are claiming a credit or carryforward
of a previously claimed credit.

Schedule A Instructions
For each sustainable building tax credit approved by TRD,
complete a row in Schedule A. Do not include credits that
have expired or that have not been claimed in the tax year
for which the credit has been approved to be applied.

(b) First eligible tax year. Enter the first eligible tax year
the sustainable building tax credit can be claimed, as indicated on the certificate of eligibility issued by EMNRD,
or on RPD-41327, Sustainable Building Tax Credit Approval, or RPD-41342, Notice of Transfer of Sustainable
Building Tax Credit.
(c) Amount of credit approved. For each credit, enter

RPD-41329
Rev. 04/11/2016

State of New Mexico - Taxation and Revenue Department
SUSTAINABLE BUILDING TAX CREDIT
CLAIM FORM

the amount approved by TRD, as indicated on Forms
RPD-41327, Sustainable Building Tax Credit Approval,
or RPD-41342, Notice of Transfer of Sustainable Building
Tax Credit.

•	

Applying credits: Apply the sustainable building
tax credit that was approved for the current tax year
first. If additional tax is due for the current tax year,
you may apply credit available for carryforward
from prior year claims. Excess credit available for
carryforward from prior year claims, should be applied in the order that they were approved, applying
older credits 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 net New Mexico
income tax claimed on the New Mexico income
tax return.

(d) Total credit claimed in previous tax years. For
each credit amount listed, 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 New Mexico
income tax return to which you wish to claim the credit.
When calculating the amount in column (f), apply the following rules:

Page 3 of 3