4501 Indian School Road NE
Suite 202
Albuquerque, NM 87110
(505) 262-0921 • 262-9691 Fax
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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.
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:
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
Click here to see additional details at the website listed above.
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.
