NM HB145

Extends the eligibility deadline for the high-wage jobs tax credit from July 1, 2026 to July 1, 2036, allowing employers to continue creating qualifying new jobs for an additional 10 years

Tax credit equals 8.5% of wages paid to eligible employees in new high-wage jobs, capped at $12,750 per job per qualifying period

Qualifying wage thresholds: $60,000 annually for jobs in municipalities with 60,000+ population or Class H counties; $40,000 annually for jobs in smaller municipalities or unincorporated areas

Jobs must be occupied at least 44 weeks per qualifying period by New Mexico residents employed by eligible employers meeting state development training program criteria

Applies to taxable years beginning on or after January 1, 2026