us-nm/stat
NMSA 1978, § 7-9A-7.1 — Employment requirements
A.
Prior to July 1, 2030, to be eligible to claim a credit pursuant to the Investment
Credit Act, the taxpayer shall employ the equivalent of one full-time employee who has
not been counted to meet this employment requirement for any prior claim in addition to
the number of full-time employees employed on the day one year prior to the day on
which the taxpayer applies for the credit for every:
(1) seven hundred fifty thousand dollars ($750,000), or portion of that amount,
in value of qualified equipment claimed by the taxpayer in a taxable year in the same
claim, up to a value of thirty million dollars ($30,000,000); and
(2) one million dollars ($1,000,000), or portion of that amount, in value of
qualified equipment over thirty million dollars ($30,000,000) claimed by the taxpayer in a
taxable year in the same claim.
B.
The department may require evidence showing compliance with this section. The
department may find that an additional employee meets the requirements of this
section, although employed earlier than one year prior to the day on which the taxpayer
applies for the credit, if the employee was only being trained prior to that date or the
employee's employment was necessitated by the use of the qualified equipment.
Source: official text