New Mexico Statutes 7-2A-7. Taxes applied to corporations on federal areas
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To the extent permitted by law, no corporation shall be relieved from liability for corporate income tax or corporate franchise tax by reason of receiving income from transactions occurring or work or services performed within a federal area.
Terms Used In New Mexico Statutes 7-2A-7
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.