New Mexico Statutes 7-4-4. When taxable in another state
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For purposes of allocation and apportionment of income under the Uniform Division of Income for Tax Purposes Act, a taxpayer is taxable in another state if:
Terms Used In New Mexico Statutes 7-4-4
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
A. in that state he is subject to a net income tax, a franchise tax measured by net income, a franchise tax for the privilege of doing business, or a corporate stock tax; or
B. that state has jurisdiction to subject the taxpayer to a net income tax, regardless of whether the state does or does not.