LOCAL NEWS PRINTER TAX CREDIT

SB 150 creates a refundable tax credit for New Mexico local news printers (businesses that manufacture/produce newspapers for local news organizations) that employ qualified staff. It allows owners to claim up to $10,000 per full-time equivalent employee ($5,000 for part-time) based on wages paid, with a total annual cap of $1 million across all credits. To qualify, news printers must have operated for at least five years, employ five or more qualified employees (who work 25%+ of the year on newspaper production in New Mexico), and meet specific content and ownership requirements. The credit is claimed through a department certification process and expires before 2031.