N.M. Code R. § 3.4.1.13
For tax years beginning on or after January 1, 2020, “base income” under Section 7-2A-2 NMSA 1978 includes special deductions allowed under the Internal Revenue Code Sections 241 through 249 including the deduction for foreign source dividends under Section 245A.
[3.4.1.13 NMAC - N, 3/23/2021]