NMSA 1978, § 7-2-5.14 — Exemption; social security income

An individual may claim an exemption in an amount equal to the amount included in
adjusted gross income pursuant to Section 86 of the Internal Revenue Code, as that
section may be amended or renumbered, of income includable except for this
exemption in net income; provided that the individual's adjusted gross income shall not
exceed:

# A.

seventy-five thousand dollars ($75,000) for married individuals filing separate
returns;

# B.

one hundred fifty thousand dollars ($150,000) for heads of household, surviving
spouses and married individuals filing joint returns; and

# C.

one hundred thousand dollars ($100,000) for single individuals.