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Aircraft Maintenance or Remodeling Tax Deduction « Back to Search Results
Aircraft Maintenance or Remodeling Tax Deduction

Category: State Incentives, Tax Incentives


AGENCY: Taxation and Revenue Department
DESCRIPTION: The Aircraft Maintenance or Remodeling Tax Deduction provides tax relief for maintaining, refurbishing, remodeling or otherwise modifying a commercial or military carrier (aircraft) over 10,000 pounds gross landing weight.
ELIGIBLE USES:
• Deduction for all receipts from the sale of aircraft.
QUALIFICATIONS/CRITERIA:
•  Maximum Program Benefits: The gross receipts tax rate is approximately 7%.
•  See 7-9-62.1 NMSA.
•  Visit the Taxation and Revenue Department homepage at http://www.state.nm.us/tax/home.htm or find paperwork and applications at http://www.state.nm.us/tax/BizPge.htm.
•  Call the office of the Secretary at (505) 827-0951.


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Greater Gallup Economic Development Corporation | 102 W. Hill Avenue, PO Box 1795 | Gallup, NM  87301
Phone (505) 722-2980 | Fax (505) 722-2987