Joseph M. Montoya Building
1100 S. St. Francis Drive
Santa Fe, NM 87505
Albuquerque Office
500 Marquette Ave NW Suite 640
Albuquerque, NM 87102
An operator of a refinery in New Mexico, any person who blends special fuel in New Mexico, or the owner of special fuel stored at a pipeline terminal in New Mexico, who installs biodiesel blending equipment for the purpose of establishing or expanding in a facility to produce blended biodiesel fuel is eligible to claim a credit against gross receipts tax or compensating tax. A certificate of eligibility must be obtained from the Energy, Minerals, and Natural Resources Department to apply for this credit.
The credit is equal to 30% of the purchase cost of the equipment plus 30% of the cost of installing that equipment. The credit cannot exceed $50,000 with respect to equipment installed at any one facility. The credit may be applied against the taxpayer’s gross receipts tax liability or compensating tax liability. The credit may be carried forward for 4 years from the date of the certificate of eligibility.
New Mexico Economic Development Department
Main number: (505) 827-0300 (se habla español)
Email: info@edd.nm.gov
Joseph M. Montoya Building
1100 S. St. Francis Drive
Santa Fe, NM 87505
Albuquerque Office
500 Marquette Ave NW Suite 640
Albuquerque, NM 87102
Mailing Address:
New Mexico Economic
Development Department
P.O. Box 20003
Santa Fe, NM 87504-5003
The mission of the New Mexico Economic Development Department is to Improve the lives of New Mexico families by increasing economic opportunities and providing a place for businesses to thrive.
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