Signed into LawFiled Jan 26, 2026
Sponsor: Wirth, Peter
Latest Action
PASS - SGND BY GOV - Chapter 69
Mar 11, 2026
Summary
The bill rewrites how New Mexico calculates corporate income tax by redefining "base income" to follow federal rules, adding and subtracting specific items, and adjusting the formula that splits income among states. It also lets qualifying businesses use a sales‑only apportionment method if they have manufacturing, computer‑processing, or headquarters operations in the state. The changes take effect for tax years starting on or after Jan. 1, 2027.
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