NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-3-9
Withheld amounts credited against tax
Official textnmonesource.comlast amended
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.
Amendment history
1953 Comp., § 72-15-59, enacted by Laws 1961, ch. 243, § 11; 1990, ch. 64, § 7.
Source: official source (NMSA chapter on nmonesource.com)
In this article (14 sections)
- 7-3-1 · Short title
- 7-3-2 · Definitions
- 7-3-3 · Tax withheld at source
- 7-3-4 · Deductions considered taxes
- 7-3-5 · 7-3-5
- 7-3-6 · Date payment due
- 7-3-7 · Statements of withholding
- 7-3-8 · 7-3-8
- 7-3-9 · Withheld amounts credited against tax
- 7-3-10 · Voluntary submission to act
- 7-3-11 · Acts to be performed by agents; liability of third parties
- 7-3-12 · Repealed
- 7-3-13 · Withholding return required
- 7-3-14 · Composite returns