New Mexico Administrative Code
Title 3 - TAXATION
Chapter 5 - UNIFORM DIVISION OF INCOME FOR TAX PURPOSES
Part 14 - PAYROLL FACTOR FOR APPORTIONMENT OF BUSINESS INCOME
Section 3.5.14.9 - PAYROLL FACTOR - DENOMINATOR
Universal Citation: 3 NM Admin Code 3.5.14.9
Current through Register Vol. 35, No. 18, September 24, 2024
The denominator of the payroll factor is the total compensation paid everywhere during the tax period. Accordingly, compensation paid to employees whose services are performed entirely in a state where the taxpayer is immune from taxation, for example, by Public Law 86-272, are included in the denominator of the payroll factor.
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