New Mexico § 7-4-18 Determination of sales in this state of other than tangible

New Mexico Statutes

§ 7-4-18 — Determination of sales in this state of other than tangible

New Mexico § 7-4-18

Ch. 7Taxation

Art. 4Division of Income for Tax Purposes

This text of New Mexico § 7-4-18 (Determination of sales in this state of other than tangible) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 7-4-18 (2026).

Text

personal property for inclusion in sales factor. A. Sales, other than sales described in Section 7-4-17 NMSA 1978, are in this state:

(1)in the case of sale, rental, lease or license of real property, if and to the extent the real property is located in this state;

(2)in the case of rental, lease or license of tangible personal property, if and to the extent the tangible personal property is located in this state;

(3)in the case of sale of a service, if and to the extent the service is delivered to a location in this state; and (4) in the case of sale, rental, lease or license of intangible property, if and to the extent the intangible property is used in this state. B. If the state or states of assignment under Subsection A of this section cannot be determined, the state or states of a

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personal property for inclusion in sales factor. A. Sales, other than sales described in Section 7-4-17 NMSA 1978, are in this state: (1) in the case of sale, rental, lease or license of real property, if and to the extent the real property is located in this state; (2) in the case of rental, lease or license of tangible personal property, if and to the extent the tangible personal property is located in this state; (3) in the case of sale of a service, if and to the extent the service is delivered to a location in this state; and (4) in the case of sale, rental, lease or license of intangible property, if and to the extent the intangible property is used in this state. B. If the state or states of assignment under Subsection A of this section cannot be determined, the state or states of assignment shall be reasonably approximated. C. If the taxpayer is not taxable in a state to which a sale is assigned pursuant to Subsection A of this section or if the state of assignment cannot be determined or reasonably approximated pursuant to Subsection B of this section, that sale shall be excluded from the numerator and denominator of the sales factor. D. The department may promulgate rules as necessary or appropriate to carry out the purposes of this section.