New Mexico offers alternative energy product manufacturers a tax credit for up to 5% of qualified expenditures for manufacturing equipment used in a manufacturing operation that produces alternative energy products. To be eligible, manufacturers must employ one full-time employee for every $500,000 of expenditures for up to $30,000,000. After that benchmark, manufacturers must employ one full-time employee for every additional $1,000,000 in expenditures. Credits that are not used in a reporting period may be transferred forward for up to 5 years, at which point they expire.
