Bill > SB1

This bill requires combined reporting for a unitary group, which is defined as a group of corporations that are related through common ownership and are economically interdependent. The bill adds and amends definitions in the Corporate Income and Franchise Tax Act, including defining "affiliated group," "common ownership," "foreign corporation," "foreign operating company," "return," "unitary group," "water's edge combined report," and "worldwide combined report." The bill also repeals a section related to consolidated income tax returns and specifies that the provisions of the bill apply to taxable years beginning on or after January 1, 2017.

Budget and Finance, Transportation and Infrastructure

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=1&year=17