New Mexico Statutes
Chapter 7 - Taxation
Article 2A - Corporate Income and Franchise Tax

Section 7-2A-1 - Short title. - Chapter 7, Article 2A NMSA 1978 may be cited as...

Section 7-2A-2 - Definitions. - For the purpose of the Corporate Income and Franchise Tax...

Section 7-2A-3 - Imposition and levy of taxes. - A. A tax to be known as the "corporate income...

Section 7-2A-4 - Exemptions. - No corporate income or franchise tax shall be imposed upon:...

Section 7-2A-5 - Corporate income tax rates. - The corporate income tax imposed on corporations by Section 7-2A-3...

Section 7-2A-5.1 - Corporate franchise tax amount. - The corporate franchise tax amount imposed on a corporation by...

Section 7-2A-6 - Tax computation; alternative method. - For those taxpayers who do not compute an amount upon...

Section 7-2A-7 - Taxes applied to corporations on federal areas. - To the extent permitted by law, no corporation shall be...

Section 7-2A-8 - Repealed. - History: 1978 Comp., § 7-2A-8, enacted by Laws 1981, ch....

Section 7-2A-8.1 - Repealed. - Repeals. — Laws 1990, ch. 49, § 22 repealed 7-2A-8.1...

Section 7-2A-8.2 - Repealed. - Repeals. — Laws 1990, ch. 49, § 21 repealed 7-2A-8.2...

Section 7-2A-8.3 - Combined and consolidated returns. - A. Corporations that are part of a unitary group shall...

Section 7-2A-8.4 - Repealed. - History: 1978 Comp., § 7-2A-8.4, enacted by Laws 1983, ch....

Section 7-2A-8.5 - Repealed. - Repeals. — Laws 1990, ch. 49, § 23 repealed 7-2A-8.5...

Section 7-2A-8.6 - Credit for preservation of cultural property; corporate income tax credit. - A. Tax credits for the preservation of cultural property may...

Section 7-2A-8.7 - Repealed. - Repeals. — Laws 1994, ch. 10, § 1, repealed 7-2A-8.7...

Section 7-2A-8.8 - Welfare-to-work tax credit. - A. Any taxpayer who files a New Mexico corporate income...

Section 7-2A-8.9 - Tax credit; certain conveyances of real property. - A. There shall be allowed as a credit against the...

Section 7-2A-9 - Taxpayer returns; payment of tax. - A. Every corporation deriving income from any business transaction, property...

Section 7-2A-9.1 - Estimated tax due; payment of estimated tax; penalty; exemption. - A. Every taxpayer shall pay estimated corporate income tax to...

Section 7-2A-9.2 - Limitation on claiming of credits and tax rebates. - A credit or tax rebate provided in the Corporate Income...

Section 7-2A-10 - Information returns. - A. Pursuant to regulation, the secretary may require any person...

Section 7-2A-11 - Accounting methods. - A taxpayer shall use the same accounting methods for reporting...

Section 7-2A-12 - Fiscal years permitted. - Any corporation which files income tax returns under the Internal...

Section 7-2A-13 - Administration. - The Corporate Income and Franchise Tax Act shall be administered...

Section 7-2A-14 - Corporate-supported child care; credits allowed. - A. A taxpayer that pays for child care services in...

Section 7-2A-15 - Qualified business facility rehabilitation credit; corporate income tax credit. - A. To stimulate the creation of new jobs and revitalize...

Section 7-2A-16 - Intergovernmental business tax credit. - A. With respect to the net income of a taxpayer...

Section 7-2A-17 - Repealed. - Repeals. — Laws 1999, ch. 217, § 4 repealed 7-2A-17...

Section 7-2A-17.1 - Job mentorship tax credit. - A. To encourage New Mexico businesses to hire youth participating...

Section 7-2A-18 - Credit; certain electronic equipment. - A. A taxpayer who files a New Mexico corporate income...

Section 7-2A-19 - Renewable energy production tax credit; limitations; definitions; claiming the credit. - A. The tax credit provided in this section may be...

Section 7-2A-20 - Repealed. - History: Laws 2002, ch. 91, § 2. Repeals. — Laws...

Section 7-2A-21 - Sustainable building tax credit. - A. The tax credit provided by this section may be...

Section 7-2A-22 - Repealed. - History: Laws 2007, ch. 204, § 6; repealed by Laws...

Section 7-2A-23 - Credit; blended biodiesel fuel. - A. A taxpayer that is liable for payment of the...

Section 7-2A-24 - Geothermal ground-coupled heat pump tax credit. - A. A taxpayer that files a New Mexico corporate income...

Section 7-2A-25 - Advanced energy corporate income tax credit. - A. The tax credit that may be claimed pursuant to...

Section 7-2A-26 - Agricultural biomass corporate income tax credit. - A. A taxpayer that files a New Mexico corporate income...

Section 7-2A-27 - Veteran employment tax credit. - A. A taxpayer that employs a qualified military veteran in...

Section 7-2A-28 - 2015 sustainable building tax credit. - A. The tax credit provided by this section may be...

Section 7-2A-28.1 - 2021 sustainable building tax credit. - A. The tax credit provided by this section may be...

Section 7-2A-29 - Foster youth employment corporate income tax credit. - A. A taxpayer that employs a qualified foster youth in...

Section 7-2A-30 - Deduction to offset material financial effects of changes in deferred tax amounts due to certain changes made to sections 7-2A-2, 7-2A-3, 7-2A-8.3, 7-4-10 and 7-4-18 NMSA 1978. - A. For each of ten consecutive taxable years beginning on...

Section 7-2A-31 - Deduction; income from leasing a liquor license. - A. Prior to January 1, 2026, a taxpayer that is...