A taxpayer shall use the same accounting methods for reporting income for New Mexico income tax purposes as are used in reporting income for federal income tax purposes.
§ 7-2-21.1 NMSA 1978
Accounting methods
Known as the Income Tax Act
The act spans §§ 7–7 (129 sections).
1978 Comp., § 7-2-21.1, enacted by Laws 1981, ch. 37, § 32.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.