To encourage New Mexico businesses to hire youth participating in career preparation education programs, a New Mexico business may claim a credit equal to fifty percent of gross wages paid to qualified students who are employed by the business during the taxable year. See Important Definitions below. For assistance completing this form, call (505) 827-0792.
The following restrictions apply:
• The credit cannot be allowed for more than 10 qualified students by a business in a taxable year,
• The credit cannot be allowed for more than 50% of gross wages paid on the first 320 hours of employment for each qualified student,
• A credit for a qualified student cannot be allowed for more than three taxable years, and
• No taxpayer may claim a credit in excess of $12,000 in any taxable year
http://www.tax.newmexico.gov/Tax-Professionals/employment-enhancement-tax-credits.aspx