2011 New Mexico Statutes
Chapter 7: Taxation
Article 4: Division of Income for Tax Purposes, 7-4-1 through 7-4-21
Section 7-4-7: Allocation of capital gains and losses.
7-4-7. Allocation of capital gains and losses.
A. Capital gains and losses from sales of real property located in this state are allocable to this state.
B. Capital gains and losses from sales of tangible personal property are allocable to this state if:
(1) the property had a situs in this state at the time of the sale; or
(2) the taxpayer's commercial domicile is in this state and the taxpayer is not taxable in the state in which the property had a situs.
C. Capital gains and losses from sales of intangible personal property are allocable to this state if the taxpayer's commercial domicile is in this state.
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