New Mexico Administrative Code
Title 3 - TAXATION
Chapter 13 - BUSINESS TAX CREDITS
Part 9 - FILM PRODUCTION TAX CREDIT
Section 3.13.9.9 - DETERMINATION OF PHYSICAL PRESENCE FOR PURPOSES OF CLAIMING THE FILM PRODUCTION TAX CREDIT
Universal Citation: 3 NM Admin Code 3.13.9.9
Current through Register Vol. 35, No. 18, September 24, 2024
A. Any vendor (provider) who provides goods or performs services, who occupies and maintains one or more physical places of business in New Mexico, not a virtual or online business, has established "physical presence," for purposes of the film production tax credit, if the following conditions are present:
(1) a provider of goods or services, or its
employees, or representatives, is available at that provider's place of
business during established times;
(2) a provider of goods maintains an
inventory of the goods sold at the provider's New Mexico place of business and
those goods are held for sale in the vendor's ordinary course of business at
that place of business; and
(3)
critical elements of any service performed by a service provider occur, are
managed at or coordinated from the service provider's place of
business.
B. The following indicia will be considered in determining if the above conditions are present:
(1) the provider of the goods or
services is a resident or has at least one laborer who is a New Mexico
resident, as defined in the Income Tax Act;
(2) a telephone is assigned for the exclusive
use by the provider of goods or services at the provider's place of
business;
(3) the place of business
has been designated for the use of the goods or services provided;
(4) the place of business contains office
furniture or equipment for the use by the provider;
(5) the goods or services provider is
identified by business name on a sign located in or adjacent to the place of
business; and
(6) a client or other
persons can expect to communicate, either in person or by telephone, with the
goods or services provider, or employees or representatives of the provider, at
the place of business.
Disclaimer: These regulations may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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