Deduct Your Biomass Purchases from Your Tax Bill
New Mexico has a policy that allows businesses to deduct the value of biomass equipment and biomass materials used for the processing of biopower, biofuels or biobased products in determining the amount of Compensating Tax due. New Mexico’s Compensating Tax is an excise, or "use" tax, which is typically levied on the purchaser of the product or service for using tangible property in the state. The tax applies to imports of factory and office equipment, and other items. The rate is 5% of the value of the property or service. Compensating Tax is designed to protect New Mexico businesses from unfair competition from out-of-state business not subject to a sales or gross receipts tax. This biomass Compensating Tax deduction is analogous to a sales tax exemption for renewable energy equipment available in some other states. Contact: Tax Information Office, New Mexico Taxation & Revenue Department, P.O. Box 630, Santa Fe, NM 87504; 505-827-0700; http://www.tax.state.nm.us/home.htm
Click here For More Information On green scholarship grants .
We have Over 200 Programs Waiting For You!
What if you could access extra money for the things you need, without having to search endlessly to find it? What if you could find hundreds of programs quickly and easily, for less than a cup of coffee? Let us help you find access to programs that could change your current situation now. Whatever you need the money for, there are programs designed to help you now. We’ve been helping people for more than 30 years find and qualify for government funding. Hundreds Of Thousands Of Citizens Are Receiving Government Funding Now, Why Aren’t You? Find a program suited to your needs, and start helping yourself achieve the funding you desire!
- Purchase a new family vehicle
- Pay off your current credit cards
- Clear any past due bills
- Start a new business
- Finally purchase that new home
- Get funding for your non-profit
- Get training in a new career
- Go back to school
- And much more!
Find Funding For All These Life Expenses!
You’ll receive access to these amazing services just by registering today:
- 24/7 Email Access to answer ANY questions
- Top-secret interview videos with government officials
- The world’s most exclusive collection of Grants, Loans and other Free Services
- 1-on-1 training with Matthew Lesko
- Priority Notification of OVER 200 New Monthly Programs
- Access to a team of experts to prepare customized reports
- Assistance writing grants from trained Free Money Experts
- Unlimited access to Matthew Lesko and His Researchers
- – a dedicated team to help you find and utilize programs in your area
- Free assistance filling out ANY government application
Leave a Reply