New Mexico Statutes
§ 7-4-12 — Valuation of property for inclusion in property factor
Property owned by the taxpayer is valued at its original cost. Property rented by the taxpayer is valued at eight times the net annual rental rate. Net annual rate is the annual rental paid by the taxpayer less any annual rental rate received by the taxpayer from subrentals.
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New Mexico § 7-4-12 (Valuation of property for inclusion in property factor) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1953 Comp., § 72-15A-27, enacted by Laws 1965, ch. 203, § 12.
Nearby Sections
15
§ 7-1-1
Short title§ 7-1-11.1
Managed audits§ 7-1-11.2
Required audit notices§ 7-1-12
Identification of taxpayers§ 7-1-13.1
Method of payment of certain taxes due§ 7-1-13.2
Repealed§ 7-1-13.3
Repealed§ 7-1-13.4
Electronic payments; reversals