us-nm/stat
NMSA 1978, § 7-2A-3 — Imposition and levy of taxes
A.
A tax to be known as the "corporate income tax" is imposed at the rate specified
in the Corporate Income and Franchise Tax Act upon the taxable income of a
corporation or group of corporations, in whatever jurisdiction organized or incorporated,
that is engaged in the transaction of business in, into or from this state or deriving any
income from any property or employment within this state.
B.
A tax to be known as the "corporate franchise tax" is imposed in the amount
specified in the Corporate Income and Franchise Tax Act upon every domestic
corporation and upon every foreign corporation employed or engaged in the transaction
of business in, into or from this state or deriving any income from any property or
employment within this state and upon every domestic or foreign corporation, whether
engaged in active business or not, but having or exercising its corporate franchise in
this state.
Source: official text