RPD-41382: RPD-41382 2015 Sustainable Building Tax Credit Approval (Revision 2021-11)
New Mexico · New Mexico TRD · Used for tax years 2024, 2025, 2026
Form RPD-41382 requests New Mexico Taxation and Revenue Department approval for the 2015 sustainable building tax credit. It identifies the qualifying building owner and any other credit holder, and records the department’s approval decision, approved credit amount, and first eli
Who files this form
Owners of qualifying sustainable buildings must submit Form RPD-41382 to obtain approval from the New Mexico Taxation and Revenue Department (TRD) before claiming the 2015 sustainable building tax credit.
The credit covers qualifying construction or renovation in New Mexico and permanent installation of qualifying manufactured housing in New Mexico. The owner must first obtain a certificate of eligibility from the Energy, Minerals and Natural Resources Department (EMNRD) after the work is complete.
If a partnership or other business association passes the credit to its members, partners, shareholders, or beneficiaries, it must submit a separate Form RPD-41382 for each recipient. Each recipient's credit is limited to their proportionate ownership interest.
Buildings owned by state or local governments, public school districts, or tribal agencies do not qualify.
When it's due
The text gives these eligibility dates, rather than a specific calendar filing deadline for Form RPD-41382:
- Eligible tax years: Tax years beginning on or after January 1, 2017, and ending on or before December 31, 2024.
- Project completion cutoff for that credit: Construction, renovation, or installation must have been completed before April 1, 2023.
What you'll need
Have these items ready:
- A copy of the certificate of eligibility issued by EMNRD. Attach it to Form RPD-41382.
- The building owner's name, mailing address, phone number, Social Security number or federal employer identification number, contact name, and email address.
- If completing Section II, the holder's identifying and contact information and percentage of ownership interest in the partnership or other business association.
- Any other information TRD requires to determine the eligible credit amount.
The owner and, when applicable, the holder must mark the certification box and sign and date the form.
How to file
- Obtain a certificate of eligibility from EMNRD after the construction, installation, or renovation is complete.
- Promptly complete Section I of Form RPD-41382 with the eligible building owner's information.
- Complete Section II if a partnership or other business association is passing credit to a member, partner, shareholder, or beneficiary. Submit a separate form for each recipient.
- Mark the required certification boxes, sign and date the form, and attach a copy of the EMNRD certificate. Leave Section III for TRD.
- Mail the package to:
New Mexico Taxation and Revenue Department
Business Credit Claim Unit
P.O. Box 5418
Santa Fe, NM 87502-5418
TRD returns the approved form to the owner or holder. To claim the credit, submit the TRD approval with your income tax return.
For help completing this form, call (505) 827-0792 or email BusinessCredit.Mgr@state.nm.us.
Common mistakes
- Missing required items: Mark the certification box, sign and date the form, and attach the EMNRD certificate. A holder receiving credit through Section II must also certify, sign, and date.
- Claiming before approval: TRD must approve the credit before you claim it.
- Claiming both credits for the same qualifying solar system: The owner and applicable holder must certify that they have not and will not claim the solar market development tax credit for a solar thermal or photovoltaic system used to qualify the building for this credit.
- Skipping the first eligible year's claim: You must first claim the credit or eligible portion in the year it is eligible before claiming a carryforward, even if no tax is due.
- Transferring a carryforward after claiming the credit: Once an owner or holder claims a credit, its carryforward cannot be sold, exchanged, or transferred.
Questions people ask
Is this the form used to claim the credit on my income tax return?
No. Form RPD-41382 requests TRD approval. The text lists Form RPD-41383 as the 2015 Sustainable Building Tax Credit Claim Form and requires you to submit TRD approval with your income tax return.
How do I request the EMNRD certificate of eligibility?
Contact EMNRD at (505) 476-3372 or emnrd.taxcredits@state.nm.us, or write to Energy, Minerals and Natural Resources Department, 1220 South St. Francis Dr., Santa Fe, NM 87505.
What if my available credit is more than my income tax liability?
The excess may be carried forward for up to seven years. You must first claim the credit or eligible portion in its first eligible year, even if no tax is due.
Can TRD change or deny the amount I request?
Yes. TRD may approve the credit as submitted, approve an adjusted amount, or deny approval. The form provides for an attached explanation when the amount is adjusted or approval is denied.