us-nm/stat
NMSA 1978, § 7-7-3 — Residents; tax imposed; credit for tax paid other state
A.
A tax in an amount equal to the federal credit is imposed on the transfer of the
net estate of every resident.
B.
If any property of a resident is subject to a death tax imposed by another state for
which a credit is allowed by Section 2011, and if the tax imposed by the other state is
not qualified by a reciprocal provision allowing the property to be taxed in the state of
decedent's domicile, the amount of the tax due under this section shall be credited with
the lesser of:
(1) the amount of the death tax paid the other state and credited against the
federal estate tax; or
(2) an amount computed by multiplying the federal credit by a fraction, the
numerator of which is the value of the property subject to the death tax imposed by the
other state and the denominator of which is the value of the decedent's gross estate.
Source: official text