Biomass-Related Equipment Tax Deduction « Back to Search Results
Biomass-Related Equipment Tax Deduction

Category: State Incentives, Tax Incentives

AGENCY: Taxation and Revenue Department
DESCRIPTION: To encourage a diversification of fuel types, and the use of renewable fuels, the state of New Mexico offers a tax deduction for the materials listed in 7-9-98 NMSA.
ELIGIBILITY: The value of a biomass boiler, gasifier, furnace, turbine-generator, storage facility, feedstock processing or drying equipment, feedstock trailer or interconnection transformer may be deducted in computing the compensating tax due.
•  Biomass products are products created from plant or crop based resources such as agricultural crops and crop residues, forestry pastures and rangelands that are normally made from petroleum.
•  Biofuels are biomass converted to liquid or gaseous fuels such as ethanol, methanol, methane and hydrogen.
•  Visit the Taxation and Revenue Department homepage at or call the office of the Secretary at (505) 827-0951.

Facebook Twitter LinkedIn Email