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Manufacturing Day falls on Friday, October 4th this year.

In this radio show, Karen Converse and her hosts discuss how to “grow your business through exports.” New Mexico MEP are hosting ExporTech, a hands-on how-to for putting together a plan to export goods manufactured in New Mexico to other countries.

BE the IMPACT

admin July 31, 2013

Edge Factor tells stories of extraordinary people. Impact is a collection of insights from the leaders we met along the way.

Have you ever thought about what you can do in your company, in your town, in your school? Consider how YOU might participate in Manufacturing Day this year. Go to mfgday.com to see how you can impact your community.

Kay-Jay Products, Inc. is on a mission to “trigger” changes in the way CMM inspections are peformed. “Today’s CMM inspections no longer require the use of expensive, precise clamps, plates and complex fixtures,” according to Kay-Jay co-owner, Catherine Phillips. “Use of glue and tape should also be a thing of the past.”

This family-owned, tooling and injection molding manufacturer in Macomb County Michigan is the latest manufacturer featured in the Heroes of American Manufacturing video series. What started as one toolmaker in his garage, has grown into a 45 person company with a 70,000 square foot facility making prototype and low-volume production products for clients in medical, consumer packaging, automotive, and safety markets throughout the world. Learn more about how they successfully handled the recession and innovated into new markets with the help of their local MEP—the Michigan Manufacturing Technology Center. NIST’s Manufacturing Extension Partnership program (MEP) works with U.S. manufacturers to develop new products, identify new customers and reduce costs.

“If you think it’s the old Ford assembly line, you haven’t been staying in touch with manufacturing. Manufacturing has a home for almost everyone …” Listen to the case that this manufacturing leader makes for innovation and manufacturing careers. Based on the Heroes of American Manufacturing video featuring Omega Plastics—a family-owned, tooling and injection molding manufacturer in Michigan and how they successfully handled the recession and innovated into new markets with the help of their local MEP.

Karen Converse of New Mexico MEP talks about how the organization helps small and medium-sized businesses across the state reduce costs and increase revenue.

The forms needed to complete the process have just been released and you cannot become eligible for the reduction without submitting the attached forms. Sadly, it doesn’t look like any tax relief will be retroactive.

PNM’s email referenced: “taxes paid before PNM receives the authorized NTTC will be lost forever.” So, getting this into PNM and then on to Tax and Revenue quickly is your best option.

Below are parts of emails from correspondence between a New Mexico MEP Board member with PNM to outline the GRT change. This is all the info we currently have but your PNM rep and/or CPA should be able to answer any questions.

The legislature passed legislation last January to gradually remove the GRT charged on electricity, gas and water used up in the manufacturing process. There is a 20% reduction starting January 1, 2013, 40% in 2014 and so on until it is completely removed.

The importance of applying early is any tax paid to PNM before we get a NTTC (non taxable certificate) will be lost forever. There will not be much if any publicity about this reduction.

The NM Tax and Revenue Department has provided the attached final forms for the utilities-related manufacturing consumables deduction from Gross Receipts Tax.
A link to these forms and additional information will be posted at:
http://www.tax.newmexico.gov/Businesses/Gross-Receipts/Pages/Home.aspx

What follows is a brief summary of the process.

After filling out the forms, you can initially mail them to:

PNM Tax Dept Manufacturers Deduction
Corporate Headquarters
Albuquerque, NM 87158-1025

  • PNM will confirm the account information and send the forms back. Then, the forms should be mailed to NMTRD (details can be found at the website above).
  • NMTRD would be the one to decide if they will issue you a Type 12 NTTC. You can mail the NTTC back to PNM at the address listed above.
  • You will then be responsible to pay the NMTRD the appropriate taxes after PNM stops the tax collection.

Click here to see additional details at the website listed above.

Ron Burke of New Mexico MEP and Micah Halpert of Private Label Select talk about training available for businesses to receive ISO 9001 certification.

 

New Mexico MEP Partnership for Success

New Mexico MEP Partnership for Success is a no-cost technical assistance service that provides technical, business, research and information assistance quickly and easily.

The service includes an email newsletter and an on-line library of information with a database of technical business and engineering documents and resources. Click here to sign up.

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