New Mexico § 7-4-7 Allocation of capital gains and losses

New Mexico Statutes

§ 7-4-7 — Allocation of capital gains and losses

New Mexico § 7-4-7

Ch. 7Taxation

Art. 4Division of Income for Tax Purposes

This text of New Mexico § 7-4-7 (Allocation of capital gains and losses) 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. § 7-4-7 (2026).

Text

A. Capital gains and losses from sales of real property located in this state are allocable to this state. B. Capital gains and losses from sales of tangible personal property are allocable to this state if:

(1)the property had a situs in this state at the time of the sale; or (2) the taxpayer's commercial domicile is in this state and the taxpayer is not taxable in the state in which the property had a situs. C. Capital gains and losses from sales of intangible personal property are allocable to this state if the taxpayer's commercial domicile is in this state.

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A. Capital gains and losses from sales of real property located in this state are allocable to this state. B. Capital gains and losses from sales of tangible personal property are allocable to this state if: (1) the property had a situs in this state at the time of the sale; or (2) the taxpayer's commercial domicile is in this state and the taxpayer is not taxable in the state in which the property had a situs. C. Capital gains and losses from sales of intangible personal property are allocable to this state if the taxpayer's commercial domicile is in this state.