NMSA 1978, § 7-4-2 — Definitions

As used in the Uniform Division of Income for Tax Purposes Act:

# A.

"business income" means income arising from transactions and activity in the
regular course of the taxpayer's trade or business and income from the disposition or
liquidation of a business or segment of a business. "Business income" includes income
from tangible and intangible property if the acquisition, management or disposition of
the property constitute integral parts of the taxpayer's regular trade or business
operations;

# B.

"commercial domicile" means the principal place from which the trade or
business of the taxpayer is directed or managed;

# C.

"compensation" means wages, salaries, commissions and any other form of
remuneration paid to employees for personal services;

# D.

"department" means the taxation and revenue department, the secretary of
taxation and revenue or any employee of the department exercising authority lawfully
delegated to that employee by the secretary;

# E.

"nonbusiness income" means all income other than business income;

# F.

"sales" means all gross receipts of the taxpayer not allocated under Sections 7-4-
5 through 7-4-9 NMSA 1978 of the Uniform Division of Income for Tax Purposes Act;

# G.

"secretary" means the secretary of taxation and revenue or a division director
delegated by the secretary; and

# H.

"state" means any state of the United States, the District of Columbia, the
commonwealth of Puerto Rico, any territory or possession of the United States, and any
foreign country or political subdivision thereof.