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 3.5.16.9 - SALES FACTOR - DENOMINATOR
Universal Citation: 3 NM Admin Code 3.5.16.9
Current through Register Vol. 35, No. 18, September 24, 2024
The denominator of the sales factor shall include the total gross receipts derived by the taxpayer from transactions and activity in the regular course of its trade or business, except receipts excluded under Section 3.5.19.11 NMAC.
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