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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-1-51

Proceeds of levy and sale

Official textnmonesource.comlast amended

# A.

Money realized by levy or sale under provision of the Tax Administration Act shall be first applied against the expenses of the proceedings;

# B.

The amount, if any, remaining shall then be applied to the liability for tax in respect of which the levy was made; and

# C.

The balance, if any, remaining shall be returned to a person legally entitled thereto.

Amendment history

1953 Comp., § 72-13-65, enacted by Laws 1965, ch. 248, § 53.

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

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In this article (40 sections)
  1. 7-1-31 · Seizure of property by levy for collection of taxes
  2. 7-1-32 · Contents of warrant of levy
  3. 7-1-33 · Successive seizures
  4. 7-1-34 · Surrender of property subject to levy; penalty
  5. 7-1-35 · Stay of levy
  6. 7-1-36 · Property exempt from levy
  7. 7-1-37 · Assessment as lien
  8. 7-1-38 · Notice of lien
  9. 7-1-39 · 7-1-39
  10. 7-1-40 · Foreclosure of lien
  11. 7-1-41 · Notice of seizure
  12. 7-1-42 · Notice of sale
  13. 7-1-43 · Sale of indivisible property
  14. 7-1-44 · Requirements of sale
  15. 7-1-45 · Manner of sale or conversion to money
  16. 7-1-46 · Minimum prices
  17. 7-1-47 · Redemption before sale
  18. 7-1-48 · Documents of title
  19. 7-1-49 · Legal effect of certificate of sale
  20. 7-1-50 · Legal effect of deed to real property
  21. 7-1-51 · Proceeds of levy and sale
  22. 7-1-52 · Release of levy
  23. 7-1-53 · Enjoining delinquent taxpayer from continuing in business
  24. 7-1-54 · Security for payment of tax
  25. 7-1-55 · Contractor's bond for gross receipts; tax; penalty
  26. 7-1-56 · Sale of or proceedings against security
  27. 7-1-57 · Surety bonds
  28. 7-1-58 · Permanence of tax debt; civil actions to collect tax
  29. 7-1-59 · Jeopardy assessments
  30. 7-1-60 · Estoppel against state
  31. 7-1-61 · Duty of successor in business
  32. 7-1-62 · Duty of secretary; release of successor
  33. 7-1-63 · Assessment of tax due; application of payment
  34. 7-1-64 · Repealed
  35. 7-1-65 · Reciprocal enforcement of tax judgments
  36. 7-1-66 · 7-1-66
  37. 7-1-67 · Interest on deficiencies
  38. 7-1-67.1 · Repealed
  39. 7-1-68 · Interest on overpayments
  40. 7-1-69 · Civil penalty for failure to pay tax or file a return
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