Form RPD-41243 "Rural Job Tax Credit Claim Form" - New Mexico

What Is Form RPD-41243?

This is a legal form that was released by the New Mexico Taxation and Revenue Department - a government authority operating within New Mexico. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on September 13, 2016;
  • The latest edition provided by the New Mexico Taxation and Revenue Department;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of Form RPD-41243 by clicking the link below or browse more documents and templates provided by the New Mexico Taxation and Revenue Department.

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Download Form RPD-41243 "Rural Job Tax Credit Claim Form" - New Mexico

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RPD-41243
Rev. 09/13/2016
State of New Mexico - Taxation and Revenue Department
RURAL JOB TAX CREDIT CLAIM FORM
PURPOSE OF THIS FORM: When claiming an approved Rural Job Tax Credit, this form must accompany the CRS-1, per-
sonal income tax or corporate income tax return to which the taxpayer wishes to apply the credit. The holder of the credit
may apply all or a portion of the Rural Job Tax Credit to their gross receipts tax less any taxes collected with respect to local
option gross receipts taxes, compensating tax, and withholding taxes due, less the amount of any credit other than the Rural
Job Tax Credit applied. When computing the amount of technology jobs and research and development tax credit that can
be claimed against gross receipts tax, multiply the gross receipts by 3.9% if the location code reported is a municipality, and
5.125% if the location code is anywhere else within or outside New Mexico.
The holder may also apply the credit to his personal or corporate income tax liability. If a pass-through entity (PTE) is a
holder of a credit, the PTE may pass the credit to its owners so that the owners may claim the credit against their corporate
or personal income tax liabilities. Use Form RPD-41365, Notice of Transfer of Rural Job Tax Credit, to report to Taxation
and Revenue Department a distribution of approved Rural Job Tax Credit to the owners, members or partners of a PTE. The
credit claim can be carried forward for a period of three years from the date the credit is issued. Any amount of credit not
claimed for a reporting period may be claimed in subsequent reporting periods. The original holder is the business to whom
the credit has been approved. When the credit is transferred to a new holder, notification to the New Mexico Taxation and
Revenue Department must be made within ten days of the transfer.
To claim the credit, attach this completed form to the return on which you wish to apply the credit on before the due date of
the return. You may apply this credit when you file your return online. Sign into Taxpayer Access Point (TAP) at https://tap.
state.nm.us, and follow the prompts to attach this form. To mail in, attach this form and any applicable payments to the tax
return and mail to the address on the return. For assistance claiming your approved credit, call (505) 827-0792.
Name of holder
Social security number (SSN) or federal employer
identification number (FEIN) of holder
Mark one:
FEIN
SSN
Mailing address
City, state and ZIP code
CRS identification number
E-mail address
Phone number
From
to
1. Enter the beginning and ending date of the tax year of this claim.
$
2.
2. Enter the New Mexico tax less any local option gross receipts tax due on this return.
If applying against an income tax return, enter the Net New Mexico income tax calcu-
lated before applying any credit.
$
3.
3. Enter the portion of total credit available (from Schedule A) claimed on your current
New Mexico CRS, PIT-1, CIT-1, S-Corp or FID-1 tax return. Do not enter more than the
amount of Net New Mexico tax due. The credit used may not exceed the amount of tax
otherwise due.
NOTE: Failure to attach this form and other required attachments to your New Mexico tax return
will result 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-41243
Rev. 09/13/2016
State of New Mexico - Taxation and Revenue Department
RURAL JOB TAX CREDIT CLAIM FORM
PURPOSE OF THIS FORM: When claiming an approved Rural Job Tax Credit, this form must accompany the CRS-1, per-
sonal income tax or corporate income tax return to which the taxpayer wishes to apply the credit. The holder of the credit
may apply all or a portion of the Rural Job Tax Credit to their gross receipts tax less any taxes collected with respect to local
option gross receipts taxes, compensating tax, and withholding taxes due, less the amount of any credit other than the Rural
Job Tax Credit applied. When computing the amount of technology jobs and research and development tax credit that can
be claimed against gross receipts tax, multiply the gross receipts by 3.9% if the location code reported is a municipality, and
5.125% if the location code is anywhere else within or outside New Mexico.
The holder may also apply the credit to his personal or corporate income tax liability. If a pass-through entity (PTE) is a
holder of a credit, the PTE may pass the credit to its owners so that the owners may claim the credit against their corporate
or personal income tax liabilities. Use Form RPD-41365, Notice of Transfer of Rural Job Tax Credit, to report to Taxation
and Revenue Department a distribution of approved Rural Job Tax Credit to the owners, members or partners of a PTE. The
credit claim can be carried forward for a period of three years from the date the credit is issued. Any amount of credit not
claimed for a reporting period may be claimed in subsequent reporting periods. The original holder is the business to whom
the credit has been approved. When the credit is transferred to a new holder, notification to the New Mexico Taxation and
Revenue Department must be made within ten days of the transfer.
To claim the credit, attach this completed form to the return on which you wish to apply the credit on before the due date of
the return. You may apply this credit when you file your return online. Sign into Taxpayer Access Point (TAP) at https://tap.
state.nm.us, and follow the prompts to attach this form. To mail in, attach this form and any applicable payments to the tax
return and mail to the address on the return. For assistance claiming your approved credit, call (505) 827-0792.
Name of holder
Social security number (SSN) or federal employer
identification number (FEIN) of holder
Mark one:
FEIN
SSN
Mailing address
City, state and ZIP code
CRS identification number
E-mail address
Phone number
From
to
1. Enter the beginning and ending date of the tax year of this claim.
$
2.
2. Enter the New Mexico tax less any local option gross receipts tax due on this return.
If applying against an income tax return, enter the Net New Mexico income tax calcu-
lated before applying any credit.
$
3.
3. Enter the portion of total credit available (from Schedule A) claimed on your current
New Mexico CRS, PIT-1, CIT-1, S-Corp or FID-1 tax return. Do not enter more than the
amount of Net New Mexico tax due. The credit used may not exceed the amount of tax
otherwise due.
NOTE: Failure to attach this form and other required attachments to your New Mexico tax return
will result 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-41243
Rev. 09/13/2016
State of New Mexico - Taxation and Revenue Department
RURAL JOB TAX CREDIT CLAIM FORM
Schedule A
Once the Rural Job Tax Credit is approved, complete and attach Form RPD-41243, Rural Job Tax Credit Claim Form, includ-
ing Schedule A, to your New Mexico tax return. If claiming the credit against income taxes, also attach the applicable tax
credit Schedule PIT-CR, CIT-CR, S-Corp-CR or FID-CR.
(a)
(b)
(c)
(e)
(f)
(d) Credit previously
Credit number
Date of approval
Amount of credit
Unused credit [(c) - (d)]
Applied to the attached
claimed
approved
return
TOTAL credit available
Enter the sum of column (f) here and on
line 3 of Form RPD-41243.
RPD-41243
Rev. 09/13/2016
State of New Mexico - Taxation and Revenue Department
RURAL JOB TAX CREDIT CLAIM FORM
Instructions
Schedule A Instructions
For each Rural Job Tax Credit approved, complete a row in Schedule A. Do not include credits which have been claimed in full.
.
COLUMN INSTRUCTIONS
(a) Credit number. Enter the credit number assigned by the Taxation and Revenue Department on your approval docu-
mentation.
(b) Date of approval. Enter the date of the Department's approval for the credit from your approval documentation.
(c) Amount of credit approved. For each credit, enter the amount of credit approved.
(d) Credit previously claimed. For each credit, 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 attached New
Mexico tax return.
When calculating the amount in column (f), apply the following rules:
Applying credits: Apply rural job tax credits in the order that they were approved.
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 tax due on the New Mexico tax return.
NOTE: Failure to attach this form and other required attachments to your New Mexico tax return
will result in denial of the credit.
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