N.M. Admin. Code § 3.5.16.9

Current through Register Vol. 35, No. 21, November 5, 2024

Section 3.5.16.9 - SALES FACTOR - DENOMINATOR

The denominator of the sales factor shall include the total gross receipts derived by the taxpayer from transactions and activity in the regular course of its trade or business, except receipts excluded under Section 3.5.19.11 NMAC.

1/15/74, 9/15/88, 9/20/93, 1/15/97; 3.5.16.9 NMAC - Rn & A, 3 NMAC 5.16.9, 6/29/01