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ALBUQUERQUE, N.M. — The New Mexico Taxation and Revenue Department will hold a public hearing on a collection of proposed corporate income tax rules.
The hearing, slated for 1 p.m. Feb. 25, will address proposed regulations related to the Corporate Income and Franchise Tax Act and the Uniform Division of Income for Tax Purposes Act, according to a news release from the state tax and revenue department.
The proposed rules are intended to accompany changes to the tax code enacted in 2019. The changes eliminated separate entity reporting for C Corporations and made unitary combined reporting the default filing method for these companies, according to the release.