us-nm/stat
NMSA 1978, § 7-2-7.7 — Additional 2021 income tax rebates
A.
A resident who files an individual New Mexico income tax return for taxable year
2021 and who is not a dependent of another individual is eligible for a tax rebate
pursuant to this section in the following amounts:
(1) one thousand dollars ($1,000) for heads of household, surviving spouses
and married individuals filing joint returns; and
(2) five hundred dollars ($500) for single individuals and married individuals
filing separate returns.
B.
The rebates shall be made as soon as practicable after a return is received;
provided that a rebate shall not be allowed for a return filed after May 31, 2024.
C.
The rebates provided by this section may be deducted from the taxpayer's New
Mexico income tax liability for taxable year 2021. If the amount of rebate exceeds the
taxpayer's income tax liability, the excess shall be refunded to the taxpayer.
D.
The department may require a taxpayer to claim a rebate provided by this section
on forms and in a manner required by the department.
Source: official text