New Mexico Administrative Code
Title 3 - TAXATION
Chapter 13 - BUSINESS TAX CREDITS
Part 2 - INVESTMENT TAX CREDIT
Section 3.13.2.11 - EQUIVALENT OF ONE FULL-TIME EMPLOYEE
Universal Citation: 3 NM Admin Code 3.13.2.11
Current through Register Vol. 35, No. 18, September 24, 2024
To calculate the number of full-time-equivalent employees, add the average weekly hours worked or expected to be worked by all employees whose regular weekly work hours are or are expected to be less than forty hours. Divide the total by 40 and round down to the nearest whole number. The rounded number plus the number of employees who work or are expected to work an average of 40 or more hours per week is the number of full-time equivalent employees.
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