summary
Introduced
01/31/2021
01/31/2021
In Committee
03/12/2021
03/12/2021
Crossed Over
03/09/2021
03/09/2021
Passed
03/16/2021
03/16/2021
Dead
Signed/Enacted/Adopted
03/16/2021
03/16/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO THE MULTISTATE TAX COMPACT; ELIMINATING A TAXPAYER ELECTION TO APPORTION AND ALLOCATE INCOME PURSUANT TO THE MODEL VERSION OF THE UNIFORM DIVISION OF INCOME FOR TAX PURPOSES ACT; REQUIRING TAXPAYERS TO APPORTION AND ALLOCATE INCOME PURSUANT TO NEW MEXICO'S UNIFORM DIVISION OF INCOME FOR TAX PURPOSES ACT.
AI Summary
This bill eliminates a taxpayer's ability to elect to apportion and allocate income pursuant to the model version of the Uniform Division of Income for Tax Purposes Act. Instead, the bill requires taxpayers to apportion and allocate income pursuant to New Mexico's Uniform Division of Income for Tax Purposes Act. The bill applies to taxable years beginning on or after January 1, 2021.
Committee Categories
Budget and Finance, Justice
Sponsors (1)
Last Action
Signed by Governor - Chapter 69 - Apr. 6 (on 03/16/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=218&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/final/SB0218.pdf |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/senate/SB0218.pdf |
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