Partnertax.ai
Start free trial →

NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-2-3

Imposition and levy of tax

Official textnmonesource.comlast amended

A tax is imposed at the rates specified in the Income Tax Act upon the net income of every resident individual and upon the net income of every nonresident individual employed or engaged in the transaction of business in, into or from this state, or deriving any income from any property or employment within this state.

Amendment history

1953 Comp., § 72-15A-3, enacted by Laws 1965, ch. 202, § 3; 1979, ch. 92, § 2; 1981, ch. 37, § 14.

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. 7-2-1 · Short title
  2. 7-2-2 · Definitions
  3. 7-2-3 · Imposition and levy of tax
  4. 7-2-4 · Exemptions
  5. 7-2-5 · Repealed
  6. 7-2-5.1 · Repealed
  7. 7-2-5.2 · Exemption; income of persons sixty-five and older or blind
  8. 7-2-5.3 · Repealed
  9. 7-2-5.4 · Repealed
  10. 7-2-5.5 · 7-2-5.5
  11. 7-2-5.6 · Exemption; medical care savings accounts
  12. 7-2-5.7 · 7-2-5.7
  13. 7-2-5.8 · Exemption for low- and middle-income taxpayers
  14. 7-2-5.9 · 7-2-5.9
  15. 7-2-5.10 · 7-2-5.10
  16. 7-2-5.11 · Exemption; armed forces salaries
  17. 7-2-5.12 · Repealed
  18. 7-2-5.13 · Exemption; armed forces retirement pay
  19. 7-2-5.14 · Exemption; social security income
  20. 7-2-6 · Repealed
  21. 7-2-7 · Individual income tax rates
  22. 7-2-7.1 · Tax tables
  23. 7-2-7.2 · Repealed
  24. 7-2-7.3 · Repealed
  25. 7-2-7.4 · 2020 income tax rebate
  26. 7-2-7.5 · Supplemental 2021 income tax rebates
  27. 7-2-7.6 · 2021 income tax rebate
  28. 7-2-7.7 · Additional 2021 income tax rebates
  29. 7-2-8 · Repealed
  30. 7-2-9 · Tax computation; alternative method
  31. 7-2-10 · Income taxes applied to individuals on federal areas
  32. 7-2-11 · Tax credit; income allocation and apportionment
  33. 7-2-12 · Taxpayer returns; payment of tax
  34. 7-2-12.1 · Limitation on claiming of credits and tax rebates
  35. 7-2-12.2 · Estimated tax due; payment of estimated tax; penalty
  36. 7-2-13 · Credit for taxes paid other states by resident individuals
  37. 7-2-14 · Low-income comprehensive tax rebate
  38. 7-2-14.1 · Repealed
  39. 7-2-14.2 · Repealed
  40. 7-2-14.3 · 7-2-14.3
Full table of contents →