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| Gov. Martinez |
Gov. Susana Martinez
proposes to expand economic development tax incentives aimed at encouraging
investment in startup and technology companies.
Martinez outlined the measures on Friday. The
tax changes will need approval of the Legislature to take effect. One proposal
expands a tax credit provided to "angel investors" who help finance
new companies. The governor wants to provide up to $2 million a year in
credits, up from a current $750,000 cap, and increase the individual
investments that qualify for a tax break.
Martinez
also proposes to revamp existing credits for small technology companies,
potentially costing the state $2 million a year.
One change would allow firms
to collect a refund for some spending on research and development if their tax
credits exceed their tax liability.
Gov. proposes to expand tax incentives
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1 comments:
While I appreciate tax incentives for Angels to support new companies coiming to New Mexico, I would like to see a similar incentive for support of existing, proven New Mexico companies that seek to expand or modernize.
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