Businesses
Government-funded
Varies
Amount varies
Tax Credit
Reduces tax liability
Rolling
No fixed cutoff
Annual tax return
Claim with year-end filing
Moderate
File with tax return
Provides a 5.125% credit against gross receipts tax (GRT) or compensating tax for manufacturers purchasing qualified equipment and machinery used directly in manufacturing operations in New Mexico.
Do I qualify?
Answer the questions below for a rules-based self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.
1.Applicant must be a manufacturer operating in New Mexico
2.Equipment must be used directly in manufacturing operations (NAICS 31–33)
3.Credit applied against GRT or compensating tax on equipment purchase
4.No pre-approval required; claimed on annual return
5.Leased equipment may qualify if taxpayer bears economic risk of loss
CAEATFA · California
Full state and local sales and use tax exemption (7.25–10%) on equipment purchases for California manufacturers of solar, wind, batteries, EVs, fuel cells, and green building materials. Reduces equipment procurement costs with board pre-approval.
Utah OEO · Utah
30% state income tax credit on new employee wages for businesses creating 5+ jobs in rural Utah Economic Opportunity Zones. Meaningful incentive to locate outside Salt Lake's urban corridor, with a 5-year credit period.
GOED · Nevada
Sales tax abatements (up to 2%), property tax abatements, and Modified Business Tax credits for clean energy manufacturers locating or expanding in Nevada. Targets solar, wind, battery storage, and EV-related product manufacturers creating 10+ jobs.