New Mexico Administrative Code
Title 3 - TAXATION
Chapter 4 - CORPORATE INCOME TAXES
Part 3 - IMPOSITION AND LEVY OF TAXES
Section 3.4.3.7 - DEFINITIONS
Current through Register Vol. 35, No. 18, September 24, 2024
A. Domestic corporation defined. For the purposes of the Corporate Income and Franchise Tax Act the term "domestic corporation" means any entity organized under the laws of New Mexico and subject to tax as a corporation under the provisions of the Internal Revenue Code. For the purposes of this subsection (3.4.3.7A NMAC), a partnership or similar entity, which is taxed as a corporation under the provisions of the Internal Revenue Code, is "organized under the laws of New Mexico" if the partnership agreement or similar instrument has been filed in the records of the county clerk of any county in New Mexico or if the entity maintains its principal place of business in New Mexico.
B. Foreign corporation defined. A "foreign corporation" is any entity which was organized under the provisions of the laws of any other state or foreign country and which is subject to tax as a corporation under the provisions of the Internal Revenue Code.
