§ 7-4-1 Short title
§ 7-4-2 Definitions
§ 7-4-3 Allocation and apportionment of income in general
§ 7-4-4 When taxable in another state
§ 7-4-5 Allocation of certain nonbusiness income
§ 7-4-6 Allocation of rents and royalties
§ 7-4-7 Allocation of capital gains and losses
§ 7-4-8 Allocation of interest and dividends
§ 7-4-9 Allocation of patent and copyright royalties
§ 7-4-10 Apportionment of business income
§ 7-4-11 Property factor for apportionment of business income
§ 7-4-12 Valuation of property for inclusion in property factor
§ 7-4-13 Determination of average value of property for inclusion in property factor
§ 7-4-14 Payroll factor for apportionment of business income
§ 7-4-15 Determination of compensation for inclusion in payroll factor
§ 7-4-16 Sales factor for apportionment of business income
§ 7-4-17 Determination of sales in this state of tangible personal property for inclusion in sales factor
§ 7-4-18 Determination of sales in this state of other than tangible personal property for inclusion in sales factor
§ 7-4-19 Equitable adjustment of standard allocation or apportionment
§ 7-4-20 Agreements authorized in unusual cases
§ 7-4-21 Construction of act
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Terms Used In New Mexico Statutes > Chapter 7 > Article 4 - Division of Income for Tax Purposes

  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fraud: Intentional deception resulting in injury to another.
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • 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.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Personal property: All property that is not real property.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.