| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | New Mexico |
| Incentive Type: | Sales Tax Incentive |
| Web Site: | http://www.emnrd.state.nm.us/ECMD/CleanEnergyTaxIncentives/GRTExemptionGov.html |
| Administrator: | New Mexico Taxation & Revenue Department |
| Eligible Renewable/Other Technologies: | Solar Thermal Electric, Solar Photovoltaics, Wind (All), Wind (Small) |
| Name: | N.M. Stat. § 7-9-54.3 |
| Date Enacted: | 2002 (subsequently amended) |
New Mexico has a gross receipts tax structure for businesses instead of a sales tax. Businesses are taxed on the gross amount of their business receipts each year before expenses are deducted. Receipts associated with the sale of certain wind turbine equipment to federal, state, or local government entities are exempt from being added to gross receipts. S.B. 201, signed in March 2010, extended this exemption to solar thermal electric and photovoltaic systems sold to a government on or after July 1, 2010.
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A solar PV system is custom-designed for your home. Final solar system price may vary based on your location, monthly utility bill, government incentives and rebates, the condition of your home, and local installation prices. Solar PV system output and estimated savings are calculated based on several factors including product type, system production, geography, weather, shade, electricity use, full utilization of the 30% solar investment tax credit, and utility rate structures and rate increases. Savings on your total electricity costs are not guaranteed. Financing options and terms vary by location, and may not be available in all areas. Solar QC is neither the lender nor the project installer. Solar QC License# 1130591
