RPD-41335: RPD-41335 Land Conservation Incentives Tax Credit Application (2024)
New Mexico · New Mexico TRD · Used for tax years 2024
Form RPD-41335 is an application for New Mexico Taxation and Revenue Department approval of the land conservation incentives tax credit. It identifies the eligible donor and any other credit holder, and records the qualified donation date and credit amount approved by the departm
Who files this form
Eligible donors seeking approval for the land conservation incentives tax credit must complete and submit Form RPD-41335 to the New Mexico Taxation and Revenue Department (TRD).
If the eligible donor is a pass-through entity passing the credit to members, managers, partners, shareholders or beneficiaries, complete the holder section and submit a separate Form RPD-41335 for each recipient.
What you'll need
- Attach a copy of the certificate of eligibility for the land conservation incentives tax credit issued by the New Mexico Energy, Minerals and Natural Resources Department (EMNRD).
- Have the eligible donor’s name, Social Security or federal employer identification number, mailing address, phone number, contact name and email address available.
- If the holder is different from the eligible donor, provide the holder’s information, percentage of interest in the donor entity and amount of credit to be granted.
- Sign and date the applicant’s declaration.
How to file
Complete Form RPD-41335, attach the EMNRD certificate of eligibility, and submit it to the New Mexico Taxation and Revenue Department (TRD). The provided form does not list a mailing address or an e-file method.
Once approved, the form will be returned to you and you can begin claiming the credit. Leave the section marked “TO BE COMPLETED BY THE TAXATION AND REVENUE DEPARTMENT” for TRD.
For help completing the form, call (505) 827-0792.
Common mistakes
- Forgetting to attach a copy of the EMNRD certificate of eligibility.
- Beginning to claim the credit before TRD approves and returns the application.
- Failing to submit a separate application for each recipient when a pass-through entity passes the credit to its members, managers, partners, shareholders or beneficiaries.
- Claiming a credit under a similar law for costs related to donations for which you claimed a credit under the Land Conservation Incentives Tax Credit. The applicant must certify that they will not do this.
Questions people ask
What does the EMNRD certificate establish?
It establishes that EMNRD has determined the donor’s conveyance of property qualifies as a donation of land eligible for the land conservation incentives tax credit.
Which taxes can the credit apply to?
The form states that the credit can be applied to the holder’s personal, corporate or fiduciary income tax liability.
When can I begin claiming the credit?
Once TRD approves the application and returns the form to you, you can begin claiming the credit.
Where can I get help completing the application?
Call (505) 827-0792 for assistance.