Section 7-5-1 – Compact enacted and entered into.

The “Multistate Tax Compact” is enacted into law and entered into with all jurisdictions legally joining therein, in the form substantially as follows: “MULTISTATE TAX COMPACT Article I. Purposes. The purposes of this compact are to: 1. facilitate proper determination of state and local tax liability of multistate taxpayers, including the equitable apportionment of tax […]

Section 7-5-2 – Election of alternative tax.

Any person: A. who is required by the Income Tax Act [Chapter 7, Article 2 NMSA 1978] or the Corporate Income and Franchise Tax Act [Chapter 7, Article 2A NMSA 1978] to file a return; B. whose only activities in New Mexico consist of making sales; C. who does not own or rent real estate […]

Section 7-5-3 – Appointment of multistate tax commission member.

The governor shall appoint the member of the multistate tax commission to represent New Mexico from among the persons made eligible by Article VI 1(a) of the compact [7-5-1 NMSA 1978]. History: 1953 Comp., § 72-15A-39, enacted by Laws 1967, ch. 56, § 3. ANNOTATIONS Effective dates. — Laws 1967, ch. 56 contained no effective […]

Section 7-5-4 – Alternate designated by commissioner.

The member representing New Mexico on the multistate tax commission may be represented thereon by an alternate designated by him. Any such alternate shall be a principal deputy or assistant of the member of the commission in the agency which the member heads. History: 1953 Comp., § 72-15A-40, enacted by Laws 1967, ch. 56, § […]

Section 7-5-5 – Counsel to be designated.

The member of the commission for New Mexico shall designate either the attorney general, one of the attorney general’s assistants, or special counsel working for the agency of which the member is head, as his counsel in respect to his functions as a member of the multistate tax commission. History: 1953 Comp., § 72-15A-41, enacted […]

Section 7-5-6 – Local government advisors.

The governor, after consultation with representatives of local governments, shall appoint three persons who are representative of subdivisions affected or likely to be affected by the Multistate Tax Compact. The member of the commission representing New Mexico, and any alternate designated by him, shall consult regularly with these appointees, in accordance with Article VI 1(b) […]

Section 7-5-7 – Interaudits provisions made applicable.

Article VIII of the Multistate Tax Compact relating to interaudits shall be in force in and with respect to New Mexico. History: 1953 Comp., § 72-15A-44, enacted by Laws 1967, ch. 56, § 8. ANNOTATIONS Effective dates. — Laws 1967, ch. 56 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § […]