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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-4-18

7-4-18

Official textnmonesource.comlast amended

Determination of sales in this state of other than tangible personal property for inclusion in sales factor.

# A.

Sales, other than sales described in Section 7-4-17 NMSA 1978, are in this state:

# (1)

in the case of sale, rental, lease or license of real property, if and to the extent the real property is located in this state;

# (2)

in the case of rental, lease or license of tangible personal property, if and to the extent the tangible personal property is located in this state;

# (3)

in the case of sale of a service, if and to the extent the service is delivered to a location in this state; and

# (4)

in the case of sale, rental, lease or license of intangible property, if and to the extent the intangible property is used in this state.

# B.

If the state or states of assignment under Subsection A of this section cannot be determined, the state or states of assignment shall be reasonably approximated.

# C.

If the taxpayer is not taxable in a state to which a sale is assigned pursuant to Subsection A of this section or if the state of assignment cannot be determined or reasonably approximated pursuant to Subsection B of this section, that sale shall be excluded from the numerator and denominator of the sales factor.

# D.

The department may promulgate rules as necessary or appropriate to carry out the purposes of this section.

Amendment history

1953 Comp., § 72-15A-33, enacted by Laws 1965, ch. 203, § 18; 2019, ch. 270, § 22.

Source: official source (NMSA chapter on nmonesource.com)

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In this article (21 sections)
  1. 7-4-1 · Short title
  2. 7-4-2 · Definitions
  3. 7-4-3 · Allocation and apportionment of income in general
  4. 7-4-4 · When taxable in another state
  5. 7-4-5 · Allocation of certain nonbusiness income
  6. 7-4-6 · Allocation of rents and royalties
  7. 7-4-7 · Allocation of capital gains and losses
  8. 7-4-8 · Allocation of interest and dividends
  9. 7-4-9 · Allocation of patent and copyright royalties
  10. 7-4-10 · Apportionment of business income
  11. 7-4-11 · Property factor for apportionment of business income
  12. 7-4-12 · Valuation of property for inclusion in property factor
  13. 7-4-13 · 7-4-13
  14. 7-4-14 · Payroll factor for apportionment of business income
  15. 7-4-15 · 7-4-15
  16. 7-4-16 · Sales factor for apportionment of business income
  17. 7-4-17 · 7-4-17
  18. 7-4-18 · 7-4-18
  19. 7-4-19 · 7-4-19
  20. 7-4-20 · Agreements authorized in unusual cases
  21. 7-4-21 · Construction of act
Full table of contents →