NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-7-16
Definitions
As used in the Art Acceptance Act [7-7-15 to 7-7-20 NMSA 1978]:
# A.
"board" means the board of regents of the museum of New Mexico;
# B.
"decedent" means the deceased individual;
# C.
"division" or "department" means the taxation and revenue department, the secretary of taxation and revenue or any employee of the department exercising authority lawfully delegated to that employee by the secretary;
# D.
"museum" means the museum of New Mexico;
# E.
"personal representative" means the executor or administrator of a decedent or, if no executor or administrator is appointed, qualified and acting, any person who has possession of any property of the decedent; and
# F.
"work of art" includes any painting, drawing, print, photograph, sculpture, carving, textile, basketry, artifact, natural specimen, rare book, authors' papers, objects of historical or technical interest or other article of intrinsic cultural value.
Amendment history
1978 Comp., § 7-7-16, enacted by Laws 1983, ch. 209, § 2; 1986, ch. 20, § 60; 1987, ch. 164, § 1.
Source: official source (NMSA chapter on nmonesource.com)
In this article (18 sections)
- 7-7-1 · Short title
- 7-7-2 · Definitions
- 7-7-3 · Residents; tax imposed; credit for tax paid other state
- 7-7-4 · Nonresidents; tax imposed; exemption
- 7-7-5 · Tax return
- 7-7-6 · Date payment due
- 7-7-7 · 7-7-7
- 7-7-8 · Department to file certificate; final settlement of account
- 7-7-9 · 7-7-9
- 7-7-10 · Administration
- 7-7-11 · Sale of property to pay tax
- 7-7-12 · Liability for failure to pay tax before distribution or…
- 7-7-15 · Short title
- 7-7-16 · Definitions
- 7-7-17 · Payment of estate tax in works of art
- 7-7-18 · Procedure for payment in works of art
- 7-7-19 · Agreement on valuation
- 7-7-20 · Credit against tax