Knowledge Center

Monday, January 14, 2019

Chris Lutz Provides Insight to Tax Analysts - "New Mexico Not Entitled to Exclude Payroll Factor in Bank's Income Apportionment"

An article published by Tax Analysts discusses the New Mexico Taxation and Revenue Department failing to prove it was entitled to exclude the payroll factor from the state's apportionment formula for financial institutions. In a ruling for the taxpayer, Discover Bank, the administrative hearings office found that the department did not carry its burden showing that eliminating the payroll factor from the apportionment formula was warranted.

State and Local Tax attorney, Chris Lutz, stated, "The judge was essentially saying that the department's actions fell somewhere between reasonable but short of clear and cogent."

The full article, "New Mexico Not Entitled to Exclude Payroll Factor in Bank's Income Apportionment," was written by Jad Chamseddine and published by Tax Analysts on January 10, 2019 for its subscribers.

Click here to contact Chris with questions.

 

NOTICE: Emailing an attorney shall not and does not create an attorney-client relationship between the attorney and users of this web site or any other party whatsoever. An attorney-client relationship is ONLY established through a written engagement, and only where doing so would comply with all applicable laws and ethical rules.

CONFIDENTIAL INFORMATION: Transmission of information on-line, over email, or through any electronic means can be unstable, unreliable and insecure. You should not send information or facts via e-mail relating to your legal problem or question. If you do not have an existing attorney-client relationship, your e-mail may not be privileged or confidential.

By clicking 'OK' below, you are agreeing to the terms of this web site.

Please fill out the form below and we'll send an email out about this page to a recipient of your choice.


Copy: Check here if you would like a copy of the email.