Biofuels Production Tax Deduction
The cost of purchasing qualified biomass feedstocks to be processed into biofuels, as well as the associated equipment, may be deducted in computing the compensating tax due under the New Mexico Gross Receipts and Compensating Tax Act. For the purpose of this incentive, biofuels include ethanol, methanol, methane, and hydrogen.
(Reference New Mexico Statutes 7-9-98)
Jurisdiction: New Mexico
Type: State Incentives
Technologies: Biodiesel, Ethanol, Hydrogen Fuel Cells
See all New Mexico Laws and Incentives.