7-2A-5. Corporate income tax rates.
The corporate income tax imposed on corporations by Section 7-2A-3 NMSA 1978 shall be at the rates specified in the following table:
If the net income is: The tax shall be Not over $500,000 4.8% of net income Over $500,000 but not over $1,000,000 $24,000 plus 6.4% of excess over $500,000 Over $1,000,000 $56,000 plus 7.6% of excess over $1,000,000.
7-2A-5. Corporate income tax rates.
The corporate income tax imposed on corporations by Section 7-2A-3 NMSA 1978 shall be at the rates specified in the following table:
If the net income is: The tax shall be Not over $500,000 4.8% of net income Over $500,000 but not over $1,000,000 $24,000 plus 6.4% of excess over $500,000 Over $1,000,000 $56,000 plus 7.6% of excess over $1,000,000.
7-2A-5. Corporate income tax rates.
The corporate income tax imposed on corporations by Section 7-2A-3 NMSA 1978 shall be at the rates specified in the following table:
If the net income is: The tax shall be Not over $500,000 4.8% of net income Over $500,000 but not over $1,000,000 $24,000 plus 6.4% of excess over $500,000 Over $1,000,000 $56,000 plus 7.6% of excess over $1,000,000.
