NMSA 1978, § 7-3-9 — Withheld amounts credited against tax

The entire amount of income upon which tax was deducted and withheld shall be
included in the gross income of the withholdee for state income tax purposes. The
amount of tax deducted and withheld under the provisions of the Withholding Tax Act
during the taxable year shall be credited against any state income tax liability for that
taxable year.