Recent Regulation Changes
Regulations are written statements of general application intended to help us all interpret and apply the statutes to which they relate.
This section identifies recently filed regulations. The listing below is organized by tax act followed by the regulation
number(s) for recently filed regulations under that act. The links below will lead you to the corresponding tax act. Once you open the tax act you must conduct a search for the regulation number that you are interested in viewing.
Corporate Income and Franchise Tax Act – Click Here
Section 7-2A-2 NMSA 1978
[Repealed] 3.4.1.9 NMAC – Net Operating Losses
3.4.1.10 NMAC- Income from Obligations of Governments
3.4.1.11 NMAC- Base Income for Filing as a Separate Corporate Entity
3.4.1.12 NMAC Foreign Source Dividends
[NEW] 3.4.1.13- Foreign Source Dividends After January 1, 2020
[NEW] 3.4.1.14 NMAC- Unitary Business
Section 7-2A-8 NMSA 1978
[Repealed] 3.4.10.7 NMAC –Definitions
[Repealed] 3.4.10.9 NMAC- Separate Accounting; Computation of Net Operating Losses
Section 7-2A-8.3 NMSA 1978
[Repealed] 3.4.10.8 NMAC – Reporting Methods
3.4.10.11 NMAC – Combined Returns
[NEW] 3.4.10.12 NMAC- Consolidated Filing Election
Section 7-2A-2 NMSA 1978
[NEW] 3.4.10.14 NMAC- Computation of Base and Net Income – Applicable to Periods Beginning on or After January 1, 2020
[NEW] 3.4.10.15 NMAC- Net Operating Losses of Filing Groups – Applicable to Tax Years Beginning on or After January 1, 2020
Section 7-2A-3 NMSA 1978
[NEW] 3.4.10.16 NMAC- Obligations of Excluding Corporations to File a Return
Section 7-2A-9.2 NMSA 1978
[NEW] 3.4.14.11 NMAC – Tax Credits; Applicability to Unitary Groups
Uniform Division of Income for Tax Purposes Act – Click Here
Section 7-4-4 NMSA 1978
3.5.4.9 NMAC – Taxable in Another State – When a Taxpayer is “Subject To” a Tax
3.5.4.10 NMAC – Taxable in Another State – When a State has Jurisdiction to Subject a Taxpayer to a Net Income Tax
[New] 3.5.4.11 NMAC- Taxable in Another State – When a Taxpayer is “Subject to” a Tax – for Tax Periods Beginning on or After January 1, 2020
Section 7-4-10NMSA 1978
[Repealed] 3.5.10.8 NMAC – Apportionment Formula
Section 7-4-16 NMSA 1978
[NEW] 3.5.16.11 NMAC – Effect of Combined Filing on the Sales Factor
Section 7-4-18 NMSA 1978
3.5.18.8 NMAC – Sales Factor – Sales Other Than Sales of Tangible Personal Property in This State
[NEW] 3.5.18.9 NMAC – Sales Factor – Sales Other Than Sales of Tangible Personal Property in This State – Applicable to Tax Years Beginning on or After January 1, 2020