RPD-41387: RPD-41387 Notice of Distribution of Technology Jobs and Research and Development Tax Credit (Revision 2023-09)
New Mexico · New Mexico TRD · Used for tax years 2024, 2025, 2026
Form RPD-41387 reports a distribution of the additional Technology Jobs and Research and Development Tax Credit to the New Mexico Taxation and Revenue Department. It identifies the approved taxpayer, the credit approval details, and each recipient’s ownership percentage and distr
Who files this form
Use Form RPD-41387 to report a distribution of the additional Technology Jobs and Research and Development Tax Credit to shareholders, members, partners, or other owners.
The additional credit may be distributed by:
- A small business corporation that elected S-corporation treatment for federal income tax purposes.
- An entity treated as a partnership or disregarded entity for federal income tax purposes.
Distributions are limited to each recipient’s ownership interest. The authorized representative of the taxpayer approved for the credit must sign the notice.
What you'll need
Have these records and details ready:
- The approval letter for Form RPD-41385, which provides the additional credit approval number.
- The effective distribution date and total approved additional credit associated with that approval number.
- The approved taxpayer’s legal name and SSN or FEIN.
- The contact person’s name, phone number, and email address, if applicable.
- Each recipient’s name, address, SSN or ITIN, ownership percentage, and credit amount. For a business recipient, provide its FEIN.
A contact person must be authorized to discuss confidential taxpayer information through a submitted Form ACD-31102, Tax Information Authorization Tax Disclosure.
How to file
- Complete Section I with the credit approval number, effective distribution date, and total additional credit associated with the approval number.
- Complete Section II with the approved taxpayer’s information and contact details, if applicable.
- Complete a Section III box for each recipient. Use the continuation page for additional recipients.
- Have the approved taxpayer’s authorized representative sign and date the certification.
Email the form to BusinessCredit.mgr@tax.nm.gov or mail it to:
New Mexico Taxation and Revenue Department
Business Credit Manager
P.O. Box 630
Santa Fe, New Mexico 87502-0630
For help completing the form, call (505) 827-0792.
Common mistakes
- Leaving the certification unsigned. The form requires the approved taxpayer’s authorized representative to sign it, certifying under penalty of perjury that the form and attachments are true, correct, and complete.
- Distributing more than a recipient’s allowed share. The maximum is the recipient’s ownership percentage multiplied by the total approved additional credit.
- Listing an unauthorized contact person. A contact person must be authorized to discuss confidential taxpayer information through a submitted Form ACD-31102.
Questions people ask
Where do I find the credit approval number?
Use the additional credit approval number in the approval letter for Form RPD-41385, Application for Technology Jobs and Research and Development Tax Credit.
Which date goes in the distribution date field?
Enter the effective date of the distribution being made.
How much credit can each owner receive?
The maximum distribution equals the owner’s ownership percentage multiplied by the total approved additional credit.
Can unused additional credit be carried forward?
Approved additional credit that is not claimed against income tax or corporate income tax due for a tax year, or refunded to the taxpayer, may be carried forward for up to three years from the date of the original claim.
Can I email this notice?
Yes. The form may be emailed to BusinessCredit.mgr@tax.nm.gov.