Partnertax.ai
Start free trial →

NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-1-36

Property exempt from levy

Official textnmonesource.comlast amended

# A.

There shall be exempt from levy the money or property of a delinquent taxpayer in a total amount or value not in excess of one thousand dollars ($1,000).

# B.

In addition to the property exempt under Subsection A of this section, there shall also be exempt from levy on an employer of the taxpayer the greater of the following portions of the taxpayer's disposable earnings:

# (1)

seventy-five percent of the taxpayer's disposable earnings for any pay period; or

# (2)

an amount each week equal to forty times the minimum wage rate pursuant to Subsection A of Section 50-4-22 NMSA 1978. The superintendent of regulation and licensing shall provide a table giving equivalent exemptions for pay periods of other than one week.

# C.

As used in this section, "disposable earnings" means that part of a taxpayer's wages or salary remaining after deducting the amounts that are required by law to be withheld.

Amendment history

1953 Comp., § 72-13-50, enacted by Laws 1965, ch. 248, § 38; 1993, ch. 242, § 5; 2021, ch. 65, § 4.

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

Report a problem

What's wrong?

Sent anonymously with this page's citation. No personal information is collected.
In this article (40 sections)
  1. 7-1-21 · Installment payments of taxes; installment agreements
  2. 7-1-21.1 · Special agreements; alternative gross receipts taxpayer
  3. 7-1-22 · Exhaustion of administrative remedies
  4. 7-1-23 · Disputing liabilities; election of remedies
  5. 7-1-24 · Disputing liabilities; administrative protest
  6. 7-1-24.1 · Repealed
  7. 7-1-25 · Appeals from hearing officer's decision and order
  8. 7-1-26 · Disputing liabilities; claim for rebate or refund
  9. 7-1-26.1 · Repealed
  10. 7-1-27 · 7-1-27
  11. 7-1-28 · Authority for abatements of assessments of tax
  12. 7-1-29 · Authority to make refunds, credits or rebates
  13. 7-1-29.1 · Awarding of costs and fees
  14. 7-1-29.2 · Credit claims
  15. 7-1-30 · Collection of penalties and interest
  16. 7-1-31 · Seizure of property by levy for collection of taxes
  17. 7-1-32 · Contents of warrant of levy
  18. 7-1-33 · Successive seizures
  19. 7-1-34 · Surrender of property subject to levy; penalty
  20. 7-1-35 · Stay of levy
  21. 7-1-36 · Property exempt from levy
  22. 7-1-37 · Assessment as lien
  23. 7-1-38 · Notice of lien
  24. 7-1-39 · 7-1-39
  25. 7-1-40 · Foreclosure of lien
  26. 7-1-41 · Notice of seizure
  27. 7-1-42 · Notice of sale
  28. 7-1-43 · Sale of indivisible property
  29. 7-1-44 · Requirements of sale
  30. 7-1-45 · Manner of sale or conversion to money
  31. 7-1-46 · Minimum prices
  32. 7-1-47 · Redemption before sale
  33. 7-1-48 · Documents of title
  34. 7-1-49 · Legal effect of certificate of sale
  35. 7-1-50 · Legal effect of deed to real property
  36. 7-1-51 · Proceeds of levy and sale
  37. 7-1-52 · Release of levy
  38. 7-1-53 · Enjoining delinquent taxpayer from continuing in business
  39. 7-1-54 · Security for payment of tax
  40. 7-1-55 · Contractor's bond for gross receipts; tax; penalty
Full table of contents →