NMSA 1978, § 7-4-4 — When taxable in another state

For purposes of allocation and apportionment of income under the Uniform Division
of Income for Tax Purposes Act, a taxpayer is taxable in another state if:

# A.

in that state he is subject to a net income tax, a franchise tax measured by net
income, a franchise tax for the privilege of doing business, or a corporate stock tax; or

# B.

that state has jurisdiction to subject the taxpayer to a net income tax, regardless
of whether the state does or does not.