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2021 New Mexico Statutes
Chapter 7 - Taxation
Article 4 - Division of Income for Tax Purposes
Section 7-4-12 - Valuation of property for inclusion in property factor.
Universal Citation: NM Stat § 7-4-12 (2021)
Property owned by the taxpayer is valued at its original cost. Property rented by the taxpayer is valued at eight times the net annual rental rate. Net annual rate is the annual rental paid by the taxpayer less any annual rental rate received by the taxpayer from subrentals.
History: 1953 Comp., § 72-15A-27, enacted by Laws 1965, ch. 203, § 12.
ANNOTATIONSEffective dates. — Laws 1965, ch. 203, § 22 made Laws 1965, ch. 203, § 12 effective January 1, 1966.
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