Fiscal years permitted.

1. Law
2. New Mexico Statutes
3. Taxation
4. Corporate Income and Franchise Tax
5. Fiscal years permitted.

Any corporation which files income tax returns under the Internal Revenue Code on the basis of a fiscal year shall report income under the Corporate Income and Franchise Tax Act on the same basis.

History: 1978 Comp., § 7-2A-12, enacted by Laws 1981, ch. 37, § 45; 1986, ch. 20, § 50.

ANNOTATIONS

Cross references. For the Internal Revenue Code, see 26 U.S.C. § 1 et seq.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation §§ 578 to 586.

85 C.J.S. Taxation § 1697.

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