New Mexico Administrative Code
Title 3 - TAXATION
Chapter 5 - UNIFORM DIVISION OF INCOME FOR TAX PURPOSES
Part 3 - ALLOCATION AND APPORTIONMENT OF INCOME IN GENERAL
Section 3.5.3.9 - APPLICATION OF SECTIONS 7-4-2 TO 7-4-19 NMSA 1978; COMBINED REPORT
Universal Citation: 3 NM Admin Code 3.5.3.9
Current through Register Vol. 35, No. 18, September 24, 2024
If a particular trade or business is carried on by a taxpayer and one or more affiliated corporations, nothing in Sections 7-4-2 to 7-4-19 NMSA 1978 or in Title 3, Chapter 5 NMAC shall preclude the use of a "combined report" whereby the entire business income of such trade or business is apportioned in accordance with Sections 7-4-10 to 7-4-18 NMSA 1978.
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