New Mexico Administrative Code
Title 3 - TAXATION
Chapter 5 - UNIFORM DIVISION OF INCOME FOR TAX PURPOSES
Part 16 - SALES FACTOR FOR APPORTIONMENT OF BUSINESS INCOME
Section 3.5.16.11 - EFFECT OF COMBINED FILING ON THE SALES FACTOR
Universal Citation: 3 NM Admin Code 3.5.16.11
Current through Register Vol. 35, No. 18, September 24, 2024
For corporations that file on a combined or consolidated basis, the sales factor for the filing group is calculated without the inclusion of intercompany sales that would otherwise be deferred or eliminated under federal consolidated filing rules when calculating net income for the group
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