New Mexico Administrative Code
Title 3 - TAXATION
Chapter 15 - FRANCHISE TAXES
Part 100 - STATE FRANCHISE TAXES
Section 3.15.100.8 - LIMITED LIABILITY COMPANIES
Universal Citation: 3 NM Admin Code 3.15.100.8
Current through Register Vol. 35, No. 18, September 24, 2024
A. If it is not required to file a return as a corporation for federal income tax purposes, a limited liability company formed in New Mexico pursuant to the Limited Liability Company Act or formed pursuant to a similar act of another state is not a domestic or foreign corporation and therefore is not subject to the franchise tax.
B. Any limited liability company which is required to file a return as a corporation for federal income tax purposes and exercises its franchise in New Mexico is a corporation subject to the franchise tax.
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