Biodiesel Blending Facility Tax Credit

A tax credit is available for up to 30% of the cost of both purchasing and installing equipment used to produce biodiesel blends containing at least 2% biodiesel (B2). The tax credit is limited to $50,000 per facility and is claimed against gross receipts tax or compensating tax. Individuals or organizations must apply for and obtain a certificate of eligibility from the New Mexico Energy, Minerals, and Natural Resources Department before claiming the credit. The credit may be carried forward for four years from the date of the certificate of eligibility. For more eligibility and application details, refer to the New Mexico’s Industry-Specific Tax Incentives website. (Reference New Mexico Statutes 7-9-79.2)

Jurisdiction: New Mexico

Type: State Incentives

Enacted: Apr 3, 2007

Technologies: Biodiesel

See all New Mexico Laws and Incentives.