N.M. Admin. Code § 3.5.3.9
Current through Register Vol. 35, No. 17, September 10, 2024
If a particular trade or business is carried on by a taxpayer and one or more affiliated corporations, nothing in Sections 7-4-2 to 7-4-19 NMSA 1978 or in Title 3, Chapter 5 NMAC shall preclude the use of a "combined report" whereby the entire business income of such trade or business is apportioned in accordance with Sections 7-4-10 to 7-4-18 NMSA 1978.
N.M. Admin. Code § 3.5.3.9