There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 7: Taxation
Article 4: Division of Income for Tax Purposes, 7-4-1 through 7-4-21
Section 7-4-14: Payroll factor for apportionment of business income.
NM Stat § 7-4-14 (1996 through 1st Sess 50th Legis) What's This?
7-4-14. Payroll factor for apportionment of business income.
The payroll factor is a fraction, the numerator of which is the total amount paid in this state during the tax period by the taxpayer for compensation, and the denominator of which is the total compensation paid everywhere during the tax period.
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