New Mexico Statutes Chapter 7. Taxation § 7-9-13.1. Exemption; gross receipts tax; certain services

A. Exempted from the gross receipts tax are the receipts from selling research and development services performed outside New Mexico the product of which is initially used in New Mexico and that are sold:

B. An “affiliated corporation” means a corporation that directly or indirectly, through one or more intermediaries controls, is controlled by or is under common control with the subject corporation. “Control” means ownership of stock in a corporation that represents at least eighty percent of the total voting power of that corporation and has a stated or par value equal to at least eighty percent of the total stated or par value of the stock of that corporation.