The sales factor is a fraction, the numerator of which is the total sales of the taxpayer in this state during the tax period, and the denominator of which is the total sales of the taxpayer everywhere during the tax period.
§ 7-4-16 NMSA 1978
Sales factor for apportionment of business income
Known as the Uniform Division of Income for Tax Purposes Act
The act spans §§ 7–7 (21 sections).
1953 Comp., § 72-15A-31, enacted by Laws 1965, ch. 203, § 16.
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.