Chapter 7, Article 2A NMSA 1978 may be cited as the "Corporate Income and Franchise Tax Act".
History: 1978 Comp., § 7-2A-1, enacted by Laws 1981, ch. 37, § 34; 1986, ch. 20, § 32.
Law reviews. — For article, "New Mexico Taxes: Taking Another Look," see 32 N.M.L. Rev. 351 (2002).
Am. Jur. 2d, A.L.R. and C.J.S. references. — Decision to take foreign income taxes as federal credit under § 901 of the Internal Revenue Code (26 USCS § 901) as precluding their deduction for state income tax purposes, 77 A.L.R.4th 823.
Structure New Mexico Statutes
Article 2A - Corporate Income and Franchise Tax
Section 7-2A-3 - Imposition and levy of taxes.
Section 7-2A-5 - Corporate income tax rates.
Section 7-2A-5.1 - Corporate franchise tax amount.
Section 7-2A-6 - Tax computation; alternative method.
Section 7-2A-7 - Taxes applied to corporations on federal areas.
Section 7-2A-8.3 - Combined and consolidated returns.
Section 7-2A-8.6 - Credit for preservation of cultural property; corporate income tax credit.
Section 7-2A-8.8 - Welfare-to-work tax credit.
Section 7-2A-8.9 - Tax credit; certain conveyances of real property.
Section 7-2A-9 - Taxpayer returns; payment of tax.
Section 7-2A-9.1 - Estimated tax due; payment of estimated tax; penalty; exemption.
Section 7-2A-9.2 - Limitation on claiming of credits and tax rebates.
Section 7-2A-10 - Information returns.
Section 7-2A-11 - Accounting methods.
Section 7-2A-12 - Fiscal years permitted.
Section 7-2A-13 - Administration.
Section 7-2A-14 - Corporate-supported child care; credits allowed.
Section 7-2A-15 - Qualified business facility rehabilitation credit; corporate income tax credit.
Section 7-2A-16 - Intergovernmental business tax credit.
Section 7-2A-17.1 - Job mentorship tax credit.
Section 7-2A-18 - Credit; certain electronic equipment.
Section 7-2A-21 - Sustainable building tax credit.
Section 7-2A-23 - Credit; blended biodiesel fuel.
Section 7-2A-24 - Geothermal ground-coupled heat pump tax credit.
Section 7-2A-25 - Advanced energy corporate income tax credit.
Section 7-2A-26 - Agricultural biomass corporate income tax credit.
Section 7-2A-27 - Veteran employment tax credit.
Section 7-2A-28 - 2015 sustainable building tax credit.
Section 7-2A-28.1 - 2021 sustainable building tax credit.
Section 7-2A-29 - Foster youth employment corporate income tax credit.
Section 7-2A-31 - Deduction; income from leasing a liquor license.