Job Training Incentive Program

New Mexico has one of the most generous training incentive programs in the country. The Job Training Incentive Program (JTIP) funds classroom and on-the-job training for newly-created jobs in expanding or relocating businesses for up to 6 months. The program reimburses 50-75% of employee wages. Custom training at a New Mexico public educational institution may also be reimbursed.

Category: Business

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A New Mexico employer that pays for or provides child-care services for employees may claim a credit against corporate income tax equal to 30 percent of the total expenses, net of any reimbursements, for child-care services incurred in the taxable year. Learn More
New Mexico offers film tax credits that range from 25 to 30 percent for productions within the state. San Juan County offers filmmakers stunning vistas, outdoor recreation and charming communities that make for ideal backdrops. When combined with state incentives, the Four Corners region i... Learn More
A taxpayer who is an eligible employer may apply for and receive a tax credit for each new high-wage economic-base job. The credit amount equals 8 1/2% of the wages and benefits paid for each new economic-base job created, up to $12,750 per job. Qualifie... Learn More
A credit equal to 50 percent of gross wages paid to qualified students employed during the taxable year may be applied to corporate income tax. The credit shall not exceed $12,000. 7-2A-17.1 NMSA 1978 Learn More
LEDA is a tool used to enter into a “public-private partnership” for economic benefits to the community. The purpose of the Act is to allow for municipalities and counties to enter Joint Powers Agreements to plan and support regional economic development projects. San Juan County ha... Learn More
Manufacturers may take a tax credit of 5.125 percent of the value of qualified equipment and other property used in their operation. The credit can be applied against compensating, gross receipts or withholding tax up to 85% of the total. Any remaining available credit ma... Learn More
Multiple Opportunity Zones are contained within the Four Corners region. They include downtown Farmington, known for its shopping, arts and culture. Industrial, commercial, residential and agricultural land across from U.S. Highway 550 in Bloomfield is also a designated Opportunity Zone. Businesses looking for agriculture an... Learn More
This credit can be applied to taxes due on (state) gross receipts, corporate income, or personal income tax. Eligible companies are those who manufacture or produce products in New Mexico, who export services out of state or are in a green industry. Learn More
Industrial Revenue Bonds (IRBs) provide financing of land, buildings, furniture, fixtures, and equipment. This can provide for a certain degree of tax exemption/abatement on purchases of the assets. San Juan County has approved IRBs in amounts ranging from $15,000,000 to $70,000,000 for the energy industry investment... Learn More
A qualified small R&D business is eligible for a credit equal to the sum of all gross receipt taxes, compensating taxes or withholding taxes due to the state for up to three years. Learn More