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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-1-34

Surrender of property subject to levy; penalty

Official textnmonesource.comlast amended

# A.

Any person in possession of or obligated with respect to property or rights to property subject to levy upon which a levy has been made shall surrender the property or rights, or discharge such obligation, to the secretary or the secretary's delegate, except that part of the property or right as is, at the time of such demand, the subject of a bona fide attachment, execution, levy or other similar process, unless the person is entitled to and does redeem it according to the provisions of Section 7-1-47 NMSA 1978.

# B.

Upon demand of the secretary or the secretary's delegate, any employer owing a taxpayer wages or salary subject to levy upon which a levy has been made shall surrender to the secretary or the secretary's delegate each subsequent pay period that portion of the taxpayer's wages or salary not exempted under Section 7-1-36 NMSA 1978 and not subject to a prior bona fide attachment, execution, levy, garnishment or similar process, until the amount of the levy is satisfied in full or until notified by the secretary or the secretary's delegate. The secretary or secretary's delegate shall notify the employer promptly when the levy has been satisfied.

# C.

Any person who wrongfully fails or refuses to surrender or redeem, as required by this section, any property or rights to property levied upon, upon demand by the secretary or the secretary's delegate, is liable for a civil penalty in an amount equal to the lesser of the value of the property or rights not so surrendered or the amount of the taxes for the collection of which such levy has been made.

# D.

Notwithstanding any other provision of law, the surrender by a person in possession of or obligated with respect to property, rights to property or proceeds from the sale or other disposition of property subject to levy upon which a levy has been made by the secretary or the secretary's delegate of such property or rights to property, discharges such obligation to the department. A surrender by a person shall be a defense against the assertion of any obligation or liability to the delinquent taxpayer or any other person with respect to such property or rights to property arising from a surrender or payment.

# E.

The term "person", as used in this section, includes an officer or employee of a corporation or a member or employee of a partnership, who, as such officer, employee or member, is under a duty to surrender the property or rights to property or to discharge the obligation.

Amendment history

1953 Comp., § 72-13-48, enacted by Laws 1965, ch. 248, § 36; 1979, ch. 144, § 31; 1986, ch. 20, § 20; 1993, ch. 242, § 4.

Source: official source (NMSA chapter on nmonesource.com)

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In this article (40 sections)
  1. 7-1-19 · Limitation of actions
  2. 7-1-20 · Compromise of taxes; closing agreements
  3. 7-1-21 · Installment payments of taxes; installment agreements
  4. 7-1-21.1 · Special agreements; alternative gross receipts taxpayer
  5. 7-1-22 · Exhaustion of administrative remedies
  6. 7-1-23 · Disputing liabilities; election of remedies
  7. 7-1-24 · Disputing liabilities; administrative protest
  8. 7-1-24.1 · Repealed
  9. 7-1-25 · Appeals from hearing officer's decision and order
  10. 7-1-26 · Disputing liabilities; claim for rebate or refund
  11. 7-1-26.1 · Repealed
  12. 7-1-27 · 7-1-27
  13. 7-1-28 · Authority for abatements of assessments of tax
  14. 7-1-29 · Authority to make refunds, credits or rebates
  15. 7-1-29.1 · Awarding of costs and fees
  16. 7-1-29.2 · Credit claims
  17. 7-1-30 · Collection of penalties and interest
  18. 7-1-31 · Seizure of property by levy for collection of taxes
  19. 7-1-32 · Contents of warrant of levy
  20. 7-1-33 · Successive seizures
  21. 7-1-34 · Surrender of property subject to levy; penalty
  22. 7-1-35 · Stay of levy
  23. 7-1-36 · Property exempt from levy
  24. 7-1-37 · Assessment as lien
  25. 7-1-38 · Notice of lien
  26. 7-1-39 · 7-1-39
  27. 7-1-40 · Foreclosure of lien
  28. 7-1-41 · Notice of seizure
  29. 7-1-42 · Notice of sale
  30. 7-1-43 · Sale of indivisible property
  31. 7-1-44 · Requirements of sale
  32. 7-1-45 · Manner of sale or conversion to money
  33. 7-1-46 · Minimum prices
  34. 7-1-47 · Redemption before sale
  35. 7-1-48 · Documents of title
  36. 7-1-49 · Legal effect of certificate of sale
  37. 7-1-50 · Legal effect of deed to real property
  38. 7-1-51 · Proceeds of levy and sale
  39. 7-1-52 · Release of levy
  40. 7-1-53 · Enjoining delinquent taxpayer from continuing in business
Full table of contents →