N.M. Admin. Code § 3.3.5.7

Current through Register Vol. 35, No. 24, December 23, 2024

Section 3.3.5.7 - DEFINITIONS

For the purposes of 3.3.5 NMAC:

A. "gross amount" includes amounts deducted by the remitter for expenses and severance taxes, but does not include amounts deducted for expenses or taxes prior to receipt by the remitter. If a taxpayer receives a Form 1099-MISC for its oil and gas proceeds, the gross amount is the amount reported on federal Form 1099-MISC in box 2, royalties, and in box 7, nonemployee compensation; and

B. "resident of New Mexico" means (1) an individual domiciled in this state during all of the taxable year, or (2) an individual other than an individual described in Subsection D of 3.3.1.9 NMAC who is physically present in this state for a total of one hundred eighty-five (185) days or more in the aggregate during the taxable year, regardless of domicile or (3) an individual who moves into this state with the intent to make New Mexico his permanent domicile.

N.M. Admin. Code § 3.3.5.7

3.3.5.7 NMAC - N, 10/15/03; A, 12/15/10; A, 6/28/13