N.M. Admin. Code § 3.15.100.8 - LIMITED LIABILITY COMPANIES

A. If it is not required to file a return as a corporation for federal income tax purposes, a limited liability company formed in New Mexico pursuant to the Limited Liability Company Act or formed pursuant to a similar act of another state is not a domestic or foreign corporation and therefore is not subject to the franchise tax.

B. Any limited liability company which is required to file a return as a corporation for federal income tax purposes and exercises its franchise in New Mexico is a corporation subject to the franchise tax.

Notes

N.M. Admin. Code § 3.15.100.8

12/28/94, 1/15/97; 3.15.100.8 NMAC - Rn, 3 NMAC 15.100.8, 12/14/00