09/09/2026
透析台灣供應鏈布局美國新思維與稅務分析
當前台商赴美投資正處於「非紅供應鏈、AI狂潮、在地化生產」三大條件同時成立的歷史交會點。2024年台灣核准對美投資金額已達141.3億美元的歷史新高，年增率高達45.8%，其中製造業占比達七至八成。工作坊特別強調，台商赴美的回報應來自「戰略定位」而非單純的「低成本」，企業須在設廠前完整檢視架構規劃、Tax Nexus（『Tax Nexus』指企業與特定稅務管轄區，如美國各州建立法定之實質關聯。一旦構成 Nexus，該區政府即有權要求企業辦理登記並申報稅捐。關聯之認定不限於設立實體廠房，凡在當地聘僱員工、租賃資產，或銷售額達到法定門檻，皆可能被判定具有 Nexus 而產生納稅義務。）與人才簽證等環節。借鏡資誠（PwC）「美國供應鏈投資實務工作坊」之關鍵洞見，回頭檢視新墨西哥州，其稅制、招商工具與人才政策恰好對應各項痛點，是台商設廠值得評估的潛力選項。以此為背景回頭檢視新墨西哥州，會發現本州在稅制設計、招商工具與人才政策上，恰好能對應工作坊所提出的多項實務痛點，是台商評估赴美設廠時，值得納入比較清單的潛力選項。
工作坊中，資誠會計師特別提醒，企業跨州設廠應留意所得稅（Net Income Tax）與收入稅（Gross Receipts Tax）等制度差異，並強調傳統三因子分攤公式（『傳統三因子分攤公式』指依據企業在該州之銷售收入、薪資總額及營業資產等三項因子之佔比平均計算，以決定應納稅所得之州際分攤比例。）容易對擴大投資與聘僱的企業產生「懲罰效果」。而新墨西哥州在稅制上剛好回應了這項顧慮──自2025年起，本州將企業所得稅簡化為單一稅率5.9%，並針對製造業與總部型營運提供「單一銷售因子分攤法」（『單一銷售因子分攤法』指僅依據企業在該州之銷售收入佔比，作為計算應納稅所得州際分攤比例之唯一依據。），企業僅需就「州內銷售額」計算應納稅所得，增加廠房、設備或聘僱人數並不會直接墊高稅負，等同消除了工作坊中提到的「擴大投資反而加稅」的障礙。此外，新墨西哥州對製造業用電、天然氣等生產性投入免徵收入稅，也不課徵存貨稅，廠房不動產稅實質稅率僅約0.55%，整體稅制對出口導向型製造業相當友善。
在 Tax Nexus（課稅實質關聯）議題上，工作坊提醒企業設廠前務必釐清報稅義務的認定基準。新墨西哥州是全美少數不課徵傳統銷售稅的州，改以「收入稅」（Gross Receipts Tax）取代，州基本稅率為 4.875%，加計地方稅後綜合稅率約落在 5% 至 9% 之間，採「目的地稅制」（Destination-Based），依買方所在地計算稅額。企業一旦在新墨西哥州設有廠房、租賃物業或聘僱在地員工，即構成實體存在（『實體存在』指企業在特定管轄區域內，因擁有客觀可見之有形資產或指派人員執行業務，而建立之物理性關聯。），需向新墨西哥州稅務局辦理登記並依法申報。這項制度雖與台灣熟悉的加值稅邏輯不同，但正因規則明確、稅基透明，反而降低了工作坊中提及「事後補件、稅務風險難以估算」的不確定性，有利企業提前完成合規規劃。
工作坊中也提到，企業向州政府爭取投資獎勵時，務必在購地動工前完成專案協議簽署，並持續提交資本支出與聘僱達標報告。新墨西哥州在這方面已建立成熟且具體的招商工具：「地方經濟發展法」（Local Economic Development Act, LEDA）作為州政府的關鍵「成交基金」（Closing Fund），可依專案規模提供資金挹注，近年案例包括Farmington的先進製造擴廠獲得25萬美元LEDA資金、挹注逾2,200萬美元經濟效益。另一項「職能訓練獎勵計畫」（Job Training Incentive Program, JTIP）則被視為全美最具規模的職訓補助工具之一，2026年第一季即已完成398名在地員工的培訓與技能提升，直接對接企業在地聘僱的人力需求，呼應工作坊強調「合規落地」與「持續達標報告」的實務要求。
在簽證與外派合規部分，工作坊特別提醒企業留意商務簽證（B-1／ESTA）不得從事受僱工作，並建議合規選擇L-1或E-2簽證，同時維持外派人員與在地員工的合理聘僱比例。值得台商留意的是，台灣是美國81個E-2條約締約地之一（相關安排由美國在台協會AIT代為執行），台灣投資人與其核心管理及技術人員，可透過E-2條約投資人簽證合法赴新墨西哥州工作與經營事業，毋須經歷抽籤或配額限制，是相對穩健的落地途徑。搭配新墨西哥州逾18萬名具備先進製造、生產與物流經驗的人才庫，以及JTIP提供的在地培訓資源，企業可依工作坊建議的「1位外派人員搭配2至3位在地員工」比例，逐步建立兼顧合規與營運彈性的團隊架構，降低如工作坊案例中喬治亞州電池廠遭美國移民海關執法局（ICE）稽查的合規風險。
工作坊最後提出「落地四心法」，主張企業應以「台灣（研發大腦）＋美國（高階客製與即時維運）＋新興市場（規模量產）」建構三位一體的全域避險架構。而新墨西哥州緊鄰美墨邊境Borderplex區域，具備連結墨西哥規模化生產基地的物流優勢；同時境內坐擁桑迪亞國家實驗室（Sandia National Laboratories）與洛斯阿拉莫斯國家實驗室（Los Alamos National Laboratory）等頂尖科研機構，能與台商在半導體先進封裝、AI運算與精密材料領域進行「共同定義規格」（Co-Design）層級的高階合作，顯示本州地理與產業條件，能完美對應這套佈局邏輯。換言之，新墨西哥州不僅能承接高單價、高技術密度的營運與研發活動，也因鄰近墨西哥而具備銜接規模化製造的區位彈性，是實踐工作坊「跨國雙軌運籌」策略的具體落點。
綜合工作坊所示的稅務架構、Nexus合規、簽證規劃與政府招商工具四大實務面向，新墨西哥州展現出與台商需求高度契合的條件：單一銷售因子分攤法降低擴廠稅負疑慮、LEDA與JTIP提供具體可執行的落地資源、E-2簽證為台灣投資人開啟合規便捷的人才通道，再加上國家實驗室群聚帶來的高階研發合作機會，新墨西哥州已具備成為台商赴美投資「合規解方」的完整條件。誠如工作坊專家所言，台商赴美切忌盲目選址、單打獨鬥。望企業以最務實、合規的方式，在這波供應鏈重組浪潮中落地新墨西哥州，贏得先機。
An Analysis of New Strategies and Tax Implications for Taiwanese Supply Chains Expanding into the U.S.
Taiwanese investment in the U.S. is currently at a historic juncture where three key factors—"non-red supply chains," "the AI boom," and "localized production"—converge simultaneously. In 2024, Taiwan’s approved investment in the U.S. reached a record high of $14.13 billion, marking a year-over-year increase of 45.8 percent, with the manufacturing sector accounting for 70 to 80 percent of the total. The workshop specifically emphasized that returns on Taiwanese investment in the U.S. should stem from “strategic positioning” rather than merely “low costs.” Before establishing a manufacturing facility, companies must thoroughly review their structural planning and Tax Nexus (Tax Nexus refers to the legal and substantive connection established between a company and a specific tax jurisdiction, such as U.S. states). Once a nexus is established, the local government has the authority to require the company to register and file tax returns. The determination of a nexus is not limited to the establishment of a physical facility; hiring local employees, leasing assets, or reaching statutory sales thresholds may all result in a determination of nexus and, consequently, a tax liability.) and talent visas. Drawing on key insights from PwC’s “U.S. Supply Chain Investment Practices Workshop,” a review of New Mexico reveals that its tax system, investment incentives, and talent policies precisely address these pain points, making it a promising option worth evaluating for Taiwanese companies looking to establish manufacturing facilities. Against this backdrop, a closer look at New Mexico reveals that the state’s tax system design, investment incentives, and talent policies precisely address many of the practical pain points raised during the workshop, making it a promising option worth including in the comparison list when Taiwanese companies evaluate setting up operations in the U.S.
During the workshop, PwC accountants specifically noted that companies establishing operations across state lines should be mindful of differences in systems such as the Net Income Tax and the Gross Receipts Tax. They also emphasized that the traditional three-factor apportionment formula (the “traditional three-factor apportionment formula” refers to a method that calculates the interstate apportionment ratio of taxable income based on the proportion of three factors: sales revenue, total payroll, and business assets within the state) can easily have a “punitive effect” on companies expanding their investments and hiring. New Mexico’s tax system specifically addresses this concern—beginning in 2025, the state will simplify its corporate income tax to a flat rate of 5.9% and offer the “single sales factor allocation method” (the “single sales factor allocation method” refers to using only the proportion of a company’s sales revenue generated within the state as the sole basis for calculating the interstate allocation of taxable income). . Businesses need only calculate their taxable income based on “in-state sales”; expanding facilities, equipment, or the number of employees will not directly increase their tax burden, effectively eliminating the obstacle discussed in the workshop—namely, that “expanding investment actually leads to higher taxes.” Furthermore, New Mexico exempts production inputs such as electricity and natural gas used in manufacturing from income tax and does not impose an inventory tax. The effective property tax rate on factory buildings is only about 0.55%, making the overall tax system quite favorable for export-oriented manufacturing.
Regarding the issue of “tax nexus,” the workshop reminded businesses to clarify the criteria for determining tax filing obligations before establishing a facility. New Mexico is one of the few states in the U.S. that does not impose a traditional sales tax; instead, it uses a “gross receipts tax.” The state’s base rate is 4.875%, and the combined rate—including local taxes—ranges from approximately 5% to 9%. The state adopts a “destination-based” tax system, whereby the tax is calculated based on the buyer’s location. Once a business establishes a facility, leases property, or hires local employees in New Mexico, it is deemed to have a “physical presence” (“physical presence” refers to a business’s physical connection within a specific jurisdiction established through the possession of tangible assets or the assignment of personnel to conduct business activities). The business must then register with the New Mexico Department of Revenue and file tax returns in accordance with the law. Although this system differs from the value-added tax (VAT) logic familiar to Taiwan, its clear rules and transparent tax base actually reduce the uncertainty mentioned in the workshop regarding “retroactive documentation and the difficulty of estimating tax risks,” thereby enabling businesses to complete their compliance planning in advance.
It was also noted during the workshop that when businesses seek investment incentives from the state government, they must ensure that project agreements are signed before purchasing land or commencing construction, and must continue to submit reports demonstrating that capital expenditure and hiring targets have been met. New Mexico has established mature and concrete investment promotion tools in this regard: the “Local Economic Development Act” (LEDA), serving as the state government’s key “Closing Fund,” provides financial support based on project scale. Recent examples include an advanced manufacturing plant expansion in Farmington that received $250,000 in LEDA funding, generating over $22 million in economic benefits. Another initiative, the “Job Training Incentive Program” (JTIP), is regarded as one of the largest job training subsidy programs in the United States. In the first quarter of 2026 alone, it completed training and upskilling for 398 local employees, directly addressing businesses’ local hiring needs and aligning with the workshop’s emphasis on the practical requirements of “compliance implementation” and “ongoing performance reporting.”
Regarding visa and expatriate compliance, the workshop specifically reminded companies that business visas (B-1/ESTA) do not permit engagement in paid employment and recommended selecting L-1 or E-2 visas to ensure compliance, while maintaining a reasonable ratio of expatriates to local employees. It is worth noting for Taiwanese businesses that Taiwan is one of the 81 E-2 treaty countries with the United States (with relevant arrangements administered by the American Institute in Taiwan, AIT). Taiwanese investors, along with their key management and technical personnel, can legally work and operate businesses in New Mexico through the E-2 Treaty Investor Visa without having to go through a lottery or face quota restrictions, making it a relatively stable route for establishing a presence. Combined with New Mexico’s talent pool of over 180,000 individuals with experience in advanced manufacturing, production, and logistics, as well as the local training resources provided by JTIP, companies can follow the workshop’s recommended ratio of “one expatriate to two to three local employees” to gradually establish a team structure that balances compliance and operational flexibility, thereby reducing compliance risks such as the U.S. Immigration and Customs Enforcement (ICE) audit of the Georgia battery plant highlighted in the workshop case study.
The workshop concluded by proposing the “Four-Pronged Implementation Strategy,” advocating that companies build a three-pronged, global risk-mitigation framework based on “Taiwan (R&D hub) + the U.S. (high-end customization and real-time operations) + emerging markets (mass production).” New Mexico, located adjacent to the Borderplex region along the U.S.-Mexico border, offers logistical advantages for connecting to large-scale production bases in Mexico; it is also home to world-class research institutions such as Sandia National Laboratories and Los Alamos National Laboratory, enabling high-level “co-design” collaboration with Taiwanese companies in the fields of advanced semiconductor packaging, AI computing, and precision materials. This demonstrates that the state’s geographic and industrial conditions perfectly align with this strategic framework. In other words, New Mexico is not only capable of hosting high-value, technology-intensive operations and R&D activities but also possesses the locational flexibility to connect with large-scale manufacturing due to its proximity to Mexico, making it a concrete implementation point for the “cross-border dual-track operations” strategy outlined in the workshop.
Taking into account the four practical aspects highlighted in the workshop—tax structure, nexus compliance, visa planning, and government investment promotion tools—New Mexico demonstrates conditions that are highly aligned with the needs of Taiwanese businesses: The single sales factor allocation method alleviates tax concerns associated with plant expansions; LEDA and JTIP provide concrete, actionable resources for establishing operations; the E-2 visa opens a compliant and convenient talent channel for Taiwanese investors; and the cluster of national laboratories offers opportunities for high-level R&D collaboration. Together, these factors make New Mexico fully equipped to serve as a “compliant solution” for Taiwanese businesses investing in the U.S. As the experts at the workshop noted, Taiwanese businesses must avoid blindly selecting locations or going it alone when expanding to the U.S. We hope companies will adopt the most pragmatic and compliant approach to establish operations in New Mexico amid this wave of supply chain restructuring and gain a competitive edge.
New Mexico Economic Development Department
Taiwán en México
