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.
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:
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
Albuquerque, NM 87158-1025
New Mexico MEP will host three informative breakfast seminars focused on helping manufacturers and small businesses learn how to grow and expand their business, increase revenue and sales, and prepare their business for the future.
Be a part of a 20-minute presentation by New Mexico MEP and wrap up with a question and answer session.
Hosted at New Mexico MEP headquarters, 4501 Indian School Road Northeast, Suite 202, seating is limited and RSVPs are requested.
Details on each event are as follows:
Wednesday, September 5 – Innovation and Business Growth for the Manufacturing Industry, with speaker Matt Moser, Innovation Director with New Mexico MEP
Matt Moser speaks on the Innovation Engineering Management System, a tool to increase innovation speed and growth while decreasing risk.
Wednesday, October 3 – Growing Your Business through Exporting – Karen Converse, Innovation Director with New Mexico MEP
Recently highlighted in the New Mexico Business Weekly, Karen Converse speaks on ways to maximize your potential to export products to global markets.
Wednesday, November 7 – Legacy Planning for the Manufacturing Industry – speaker, Danny Armijo, Innovation Director with New Mexico MEP
Danny Armijo talks about businesses that have survived generations and gives an overview of how proper planning can help businesses thrive year after year.
Small manufacturers need MEP
The Importance of MEP
The current session is scheduled through December 2015. Please contact us for information on future sessions.
The New Mexico Economic Development Department, in collaboration with the New Mexico Manufacturing Extension Partnership, is offering New Mexico 9000 training classes to prepare New Mexico businesses for ISO 9001 Certification.
New Mexico 9000 was created by the Economic Development Department to provide training and assistance to New Mexico businesses in preparing for ISO 90001:2008. Training will be broken into six half-day sessions over a 3-6 month period.
“This is a great opportunity for New Mexico businesses to access new customers, become more efficient and lower their operating costs,” said Jon Barela, New Mexico Economic Development Cabinet Secretary.
The New Mexico 9000 training program has been completed by 155 companies, creating over 1,000 new expansion jobs.
Trained professionals will conduct ISO 9001:2008 classes in:
ISO is a general Quality Management System. Companies like INTEL, Boeing and many other companies are requiring that their first tier suppliers be ISO 9001 certified. In turn, those suppliers are requiring that their suppliers are ISO 9000 certified. In addition, government agencies, such as the Department of Defense, NASA and NNSA are also requiring ISO certification of their providers.
ISO 9000 standards have been adopted by 178 countries. There are now more than 1 million companies worldwide that have registered to the ISO standards. Costs associated with obtaining, maintaining, and renewing ISO registration are tax deductible.
The cost of the New Mexico 9000 training classes is based on annual company sales revenue, ranging from $550 to $3,300 for the training.