PocketLaw | New Mexico Statutes | Income Tax General Provisions

Income Tax General Provisions

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Short title.

Definitions.

Imposition and levy of tax.

Exemptions.

Repealed.

Section
7-2-5.1

Repealed.

Section
7-2-5.2

Exemption; income of persons sixty-five and older or blind.

Section
7-2-5.3

Repealed.

Section
7-2-5.4

Repealed.

Section
7-2-5.5

Exemption; earnings by Indians, their Indian spouses and Indian dependents on Indian lands.

Section
7-2-5.6

Exemption; medical care savings accounts.

Section
7-2-5.7

Exemption; income of individuals one hundred years of age or older.

Section
7-2-5.8

Exemption for low- and middle-income taxpayers.

Section
7-2-5.9

Exemption; unreimbursed or uncompensated medical care expenses of individuals sixty-five years of age or older.

Section
7-2-5.10

Exemption; New Mexico national guard member premiums paid for group life insurance.

Section
7-2-5.11

Exemption; armed forces salaries.

Repealed.

Individual income tax rates. (Effective January 1, 2006 through December 31, 2007.)

Individual income tax rates.

Individual income tax rates. (Contingent effective date. See note below.)

Section
7-2-7.1

Tax tables.

Section
7-2-7.2

Tax rebate; 2005 taxable year. (Effective for 2005 tax year.)

Section
7-2-7.3

Exemption; 2005 taxable year rebate. (Effective for 2005 tax year.)

Repealed.

Tax computation; alternative method.

Income taxes applied to individuals on federal areas.

Tax credit; income allocation and apportionment.

Taxpayer returns; payment of tax.

Section
7-2-12.1

Limitation on claiming of credits and tax rebates.

Section
7-2-12.2

Estimated tax due; payment of estimated tax; penalty.

Credit for taxes paid other states by resident individuals.

Low-income comprehensive tax rebate.

Section
7-2-14.1

Repealed.

Section
7-2-14.2

Repealed.

Section
7-2-14.3

Tax rebate of part of property tax due from low-income taxpayer; local option; refund.

Section
7-2-14.4

Authorization to fund property tax rebate for low-income taxpayers; tax imposition; election.

Section
7-2-14.5

Imposition of tax; limitations.

Repealed.

Repealed.

Section
7-2-16.1

Repealed.

Repealed.

Section
7-2-17.1

Repealed.

Tax rebate of property tax due that exceeds the elderly taxpayer's maximum property tax liability; refund.

Section
7-2-18.1

Credit for expenses for dependent child day care necessary to enable gainful employment to prevent indigency.

Section
7-2-18.2

Credit for preservation of cultural property; refund.

Section
7-2-18.3

Repealed.

Section
7-2-18.4

Qualified business facility rehabilitation credit; income tax credit.

Section
7-2-18.5

Welfare-to-work tax credit.

Section
7-2-18.6

Repealed.

Section
7-2-18.7

Tax rebate of property tax paid on property eligible for disabled veteran exemption; refund; limitation.

Section
7-2-18.8

Credit; certain electronic equipment.

Section
7-2-18.9

Repealed.

Section
7-2-18.10

Tax credit; certain conveyances of real property.

Section
7-2-18.11

Job mentorship tax credit.

Section
7-2-18.12

Repealed.

Section
7-2-18.13

Credit; unreimbursed or uncompensated medical care expenses of individuals sixty-five years of age or older.

Section
7-2-18.14

Solar market development tax credit; residential and small business solar thermal and photovoltaic market development tax credit.

Section
7-2-18.15

Working families tax credit.

Section
7-2-18.16

Credit; special needs adopted child tax credit; created; qualifications; duration of credit.

Section
7-2-18.17

Angel investment credit.

Section
7-2-18.18

Renewable energy production tax credit.

Section
7-2-18.19

Sustainable building tax credit.

Section
7-2-18.20

Repealed.

Section
7-2-18.21

Credit; blended biodiesel fuel.

Section
7-2-18.22

Tax credit; rural health care practitioner tax credit.

Section
7-2-18.23

Refundable credit; 2007 taxable year.

Section
7-2-18.24

Geothermal ground-coupled heat pump tax credit.

Section
7-2-18.25

Advanced energy income tax credit.

Section
7-2-18.26

Agricultural biomass income tax credit.

Section
7-2-18.27

Credit; physician participation in cancer treatment clinical trials.

Section
7-2-18.28

Veteran employment tax credit.

Section
7-2-18.29

New sustainable building tax credit.

Section
7-2-18.30

Foster youth employment income tax credit.

Section
7-2-18.31

New solar market development income tax credit.

Repealed.

Information returns.

Fiscal years permitted.

Section
7-2-21.1

Accounting methods.

Administration.

Finding [; wildlife funds].

Optional designation of tax refund contribution [; game protection fund].

Section
7-2-24.1

Optional designation of tax refund contribution for tree plantings.

Repealed.

Repealed.

Repealed.

Optional designation of tax refund contribution.

Section
7-2-28.1

Veterans' state cemetery fund; created.

Finding.

Optional designation of tax refund contribution [; substance abuse education fund].

Section
7-2-30.1

Optional designation of tax refund contribution; amyotrophic lateral sclerosis research fund.

Section
7-2-30.2

Optional designation of tax refund contribution; energy, minerals and natural resources department; state parks division.

Section
7-2-30.3

Optional designation of tax refund contribution; national guard member and family assistance.

Section
7-2-30.4

Optional designation of tax refund contribution; Vietnam veterans memorial.

Section
7-2-30.5

Optional designation of tax refund contribution; veterans' enterprise fund.

Section
7-2-30.6

Optional designation of tax refund contribution; lottery tuition fund.

Section
7-2-30.7

Optional designation of tax refund contribution; horse shelter rescue fund.

Section
7-2-30.8

Finding; optional designation of tax refund contribution; senior services.

Section
7-2-30.9

Optional designation of tax refund contribution; animal care and facility fund.

Section
7-2-30.10

Optional designation of tax refund contribution; sexual assault examination kit processing grant fund; sexual assault services. (Repealed effective January 1, 2023.)

Section
7-2-30.11

Optional designation of tax refund contribution; New Mexico housing trust fund.

Optional designation of tax refund contribution.

Section
7-2-31.1

Optional refund contribution provisions; conditional repeal.

Deduction-payments into education trust fund.

Repealed.

Deduction; net capital gain income.

Deleted.

Deduction; expenses related to organ donation.

Deduction; unreimbursed or uncompensated medical care expenses.

Deduction; income set aside for future distribution from an estate or trust to a nonresident individual.

Deduction from net income for certain dependents.