There is a newer version of the New Mexico Statutes
2014 New Mexico Statutes
Chapter 7 - Taxation
Section 4 Division of Income for Tax Purposes
Section 7-4-14 Payroll factor for apportionment of business income.
NM Stat § 7-4-14 (2014) 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.
History: 1953 Comp., 72-15A-29, enacted by Laws 1965, ch. 203, 14.
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