N.M. Stat. § 7-2A-5

Current through 2024, ch. 69

Section 7-2A-5 - [Effective Until 1/1/2025] Corporate income tax rates

The corporate income tax imposed on corporations by Section 7-2A-3 NMSA 1978 shall be:

If the taxable income is:	The tax shall be:
Not over $500,000	4.8% of taxable income
Over $500,000	$24,000 plus 5.9% of excess over $500,000.

NMS § 7-2A-5

1978 Comp., § 7-2A-5, enacted by Laws 1981, ch. 37, § 38; 1981, ch. 176, § 1; 1983, ch. 213, § 8; 1986, ch. 20, § 36; 1987, ch. 277, § 5; 2013, ch. 160, § 3.

Amended by 2019, c. 270,s. 18, eff. 1/1/2020.

Amended by 2013, c. 160,s. 3, eff. 1/1/2014.

This section is set out more than once due to postponed, multiple, or conflicting amendments.