RPD-41244: RPD-41244 Technology Jobs Tax Credit Claim Form (2024)
New Mexico · New Mexico TRD · Used for tax years 2024
Form RPD-41244 is used to claim an approved New Mexico technology jobs tax credit on a tax return. It reports the credit approved, amounts previously claimed, unused credit, and the amount applied to the attached return.
Who files this form
Use Form RPD-41244 to claim an approved New Mexico technology jobs tax credit. The credit holder is the business to which the credit was approved.
The credit is not available for qualified expenditures made after January 1, 2015. However, taxpayers with an approved credit may use this form to carry forward unused amounts to later reporting periods.
What you'll need
- Your New Mexico tax return on which you are claiming the credit.
- Completed Form RPD-41244, including Schedule A.
- The applicable tax credit Schedule CR.
- Your credit approval documentation, showing the assigned credit number, approval date and approved amount.
- Records of credit amounts claimed in prior tax years so you can calculate the unused credit.
The claim form also asks for the holder's name, mailing address, phone number, email address, SSN or FEIN, and New Mexico Business Tax Identification Number (NMBTIN).
How to file
- Enter the beginning and ending dates of the period in which you will apply the credit.
- Complete one row of Schedule A for each approved credit that has not been claimed in full. Enter the approval details, prior claims, unused balance and amount applied to the attached return.
- Enter the sum of Schedule A, column (f), on line 3 of Form RPD-41244. The amount claimed must not exceed the tax otherwise due. Complete the remaining fields, then sign and date the form.
- Attach Form RPD-41244, Schedule A and the applicable Schedule CR to your New Mexico tax return.
Online: Sign in to Taxpayer Access Point (TAP) and follow the prompts to attach the form when filing your return.
By mail: Attach the form to your tax return and mail it to the address printed on that return.
For help claiming an approved credit, call (505) 827-0792.
Common mistakes
- Leaving out attachments. The form warns that failing to attach this form and other required attachments to your New Mexico tax return will result in denial of the credit.
- Claiming more than the tax due. The credit used may not exceed the tax otherwise due.
- Including fully used credits on Schedule A. Do not include credits that have already been claimed in full.
- Claiming the full additional credit on separate married returns. Married individuals filing separately may each claim only one-half of the additional credit.
- Using this credit for expenditures made after January 1, 2015. The form says those taxpayers should review Form RPD-41385 to see whether the Technology Jobs and Research and Development Tax Credit is available to them.
Questions people ask
Which taxes can the basic credit offset?
The basic credit may offset New Mexico compensating tax, gross receipts tax or withholding tax. For a reporting period, the amount claimed cannot exceed the total of those taxes due.
Which taxes can the additional credit offset?
The additional credit may offset income tax or corporate income tax. The amount claimed cannot exceed the applicable tax due for that reporting period.
Can I carry forward unused credit?
Yes. Approved credit not claimed for a reporting period may be claimed in later reporting periods using this form.
How do I calculate unused credit on Schedule A?
For each credit, subtract column (d), the total claimed in tax years before the current tax year, from column (c), the approved amount. Enter the result in column (e).
Is this form an application for a new credit?
This form is for claiming a credit that has already been approved. For expenditures made after January 1, 2015, the form directs taxpayers to review Form RPD-41385 to see whether that credit is available to them.