NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-4-19
7-4-19
Equitable adjustment of standard allocation or apportionment.
If the allocation and apportionment provisions of the Uniform Division of Income for
Tax Purposes Act do not fairly represent the extent of the taxpayer's business activity in this state, the taxpayer may petition for, or the department may require, in respect to all or any part of the taxpayer's business activity, if reasonable:
# A.
separate accounting;
# B.
the exclusion of any one or more of the factors;
# C.
the inclusion of one or more additional factors which will fairly represent the taxpayer's business activity in this state; or
# D.
the employment of any other method to effectuate an equitable allocation and apportionment of the taxpayer's income.
Amendment history
1953 Comp., § 72-15A-34, enacted by Laws 1965, ch. 203, § 19; 1977, ch. 249, § 46; 1986, ch. 20, § 57.
Source: official source (NMSA chapter on nmonesource.com)
In this article (21 sections)
- 7-4-1 · Short title
- 7-4-2 · Definitions
- 7-4-3 · Allocation and apportionment of income in general
- 7-4-4 · When taxable in another state
- 7-4-5 · Allocation of certain nonbusiness income
- 7-4-6 · Allocation of rents and royalties
- 7-4-7 · Allocation of capital gains and losses
- 7-4-8 · Allocation of interest and dividends
- 7-4-9 · Allocation of patent and copyright royalties
- 7-4-10 · Apportionment of business income
- 7-4-11 · Property factor for apportionment of business income
- 7-4-12 · Valuation of property for inclusion in property factor
- 7-4-13 · 7-4-13
- 7-4-14 · Payroll factor for apportionment of business income
- 7-4-15 · 7-4-15
- 7-4-16 · Sales factor for apportionment of business income
- 7-4-17 · 7-4-17
- 7-4-18 · 7-4-18
- 7-4-19 · 7-4-19
- 7-4-20 · Agreements authorized in unusual cases
- 7-4-21 · Construction of act