reglab/housing_qa huggingface dataset:
NM Stat § 7-4-21 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 4 - Division of Income for Tax Purposes|Section 7-4-21 - Construction of act.

The Uniform Division of Income for Tax Purposes Act shall be so construed as to effectuate its general purpose to make uniform the law of those states which enact it. History: 1953 Comp., § 72-15A-36, enacted by Laws 1965, ch. 203, § 21. ANNOTATIONSEffective dates. — Laws 1965, ch. 203, § 22 made Laws 1965, ch. 203, § 21 effective January 1, 1966.
NM Stat § 7-5-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5 - Multistate Tax Compact|Section 7-5-2 - Election of alternative tax.

Any person: A. who is required by the Income Tax Act [Chapter 7, Article 2 NMSA 1978] or the Corporate Income and Franchise Tax Act [Chapter 7, Article 2A NMSA 1978] to file a return; B. whose only activities in New Mexico consist of making sales; C. who does not own or rent real estate within the state of New Mexico; and D. whose annual gross sales in or into New Mexico amount to not more than one hundred thousand dollars ($100,000) may elect to pay a tax of three-fourths of one percent of his annual gross receipts derived from sales in or into New Mexico in lieu of paying an income tax. History: 1953 Comp., § 72-15A-38, enacted by Laws 1967, ch. 56, § 2; 1971, ch. 20, § 4; 1981, ch. 37, § 50; 1987, ch. 277, § 6. ANNOTATIONSCross references. — For compact provisions relating to alternative tax, see Article III 2 of 7-5-1 NMSA 1978.
NM Stat § 7-5-3 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5 - Multistate Tax Compact|Section 7-5-3 - Appointment of multistate tax commission member.

The governor shall appoint the member of the multistate tax commission to represent New Mexico from among the persons made eligible by Article VI 1(a) of the compact [7-5-1 NMSA 1978]. History: 1953 Comp., § 72-15A-39, enacted by Laws 1967, ch. 56, § 3. ANNOTATIONSEffective dates. — Laws 1967, ch. 56 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 1967, 90 days after the adjournment of the legislature.
NM Stat § 7-5-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5 - Multistate Tax Compact|Section 7-5-4 - Alternate designated by commissioner.

The member representing New Mexico on the multistate tax commission may be represented thereon by an alternate designated by him. Any such alternate shall be a principal deputy or assistant of the member of the commission in the agency which the member heads. History: 1953 Comp., § 72-15A-40, enacted by Laws 1967, ch. 56, § 4. ANNOTATIONSEffective dates. — Laws 1967, ch. 56 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 1967, 90 days after the adjournment of the legislature.
NM Stat § 7-5-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5 - Multistate Tax Compact|Section 7-5-5 - Counsel to be designated.

The member of the commission for New Mexico shall designate either the attorney general, one of the attorney general's assistants, or special counsel working for the agency of which the member is head, as his counsel in respect to his functions as a member of the multistate tax commission. History: 1953 Comp., § 72-15A-41, enacted by Laws 1967, ch. 56, § 5. ANNOTATIONSEffective dates. — Laws 1967, ch. 56 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 1967, 90 days after the adjournment of the legislature. Cross references. — For legal adviser to secretary of taxation and revenue, see 9-11-11 NMSA 1978.
NM Stat § 7-5-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5 - Multistate Tax Compact|Section 7-5-6 - Local government advisors.

The governor, after consultation with representatives of local governments, shall appoint three persons who are representative of subdivisions affected or likely to be affected by the Multistate Tax Compact. The member of the commission representing New Mexico, and any alternate designated by him, shall consult regularly with these appointees, in accordance with Article VI 1(b) of the compact. History: 1953 Comp., § 72-15A-42, enacted by Laws 1967, ch. 56, § 6. ANNOTATIONSEffective dates. — Laws 1967, ch. 56 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 1967, 90 days after the adjournment of the legislature.
NM Stat § 7-5-7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5 - Multistate Tax Compact|Section 7-5-7 - Interaudits provisions made applicable.

Article VIII of the Multistate Tax Compact relating to interaudits shall be in force in and with respect to New Mexico. History: 1953 Comp., § 72-15A-44, enacted by Laws 1967, ch. 56, § 8. ANNOTATIONSEffective dates. — Laws 1967, ch. 56 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 1967, 90 days after the adjournment of the legislature.
NM Stat § 7-5A-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5A - Streamlined Sales and Use Tax Administration|Section 7-5A-1 - Short title.

This act may be cited as the "Streamlined Sales and Use Tax Administration Act". History: Laws 2005, ch. 225, § 1. ANNOTATIONSEffective dates. — Laws 2005, ch. 225 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2005, 90 days after adjournment of the legislature.
NM Stat § 7-5A-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5A - Streamlined Sales and Use Tax Administration|Section 7-5A-2 - Legislative findings.

The legislature finds that a simplified sales tax and use tax system that treats transactions in a competitively neutral manner will strengthen and preserve sales taxes and use taxes as vital revenue sources for this state and its local governments and will help preserve the fiscal sovereignty of this state. The legislature also finds that such a system will substantially reduce the administrative burdens of collection for sellers. While states have the sovereign right to set their own tax policies, states should cooperatively develop a streamlined sales tax and use tax system that is simplified, uniform and fair. History: Laws 2005, ch. 225, § 2. ANNOTATIONSEffective dates. — Laws 2005, ch. 225 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2005, 90 days after adjournment of the legislature.
NM Stat § 7-5A-3 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5A - Streamlined Sales and Use Tax Administration|Section 7-5A-3 - Definitions.

As used in the Streamlined Sales and Use Tax Administration Act: A. "agreement" means the streamlined sales and use tax agreement; B. "certified automated system" means software certified jointly by member states to: (1) calculate the sales tax imposed by each jurisdiction on a transaction; (2) determine the amount of tax to remit to the appropriate state; and (3) maintain a record of the transaction; C. "certified service provider" means an agent that performs all of the sales tax functions of a seller and that is certified jointly by member states to perform all of the sales tax functions of the seller; D. "member state" means a state of the United States that enters into the agreement with another state and the District of Columbia if it enters into the agreement with another state; E. "person" means an individual, trust, estate, fiduciary, partnership, limited liability company, limited liability partnership, corporation and any other legal entity; F. "sales tax" means the gross receipts tax levied pursuant to the Gross Receipts and Compensating Tax Act [Chapter 7, Article 9 NMSA 1978] or a tax imposed by a state on the sale of goods or services; G. "seller" means a person making sales, leases and rentals of personal property and services; and H. "use tax" means the compensating tax levied pursuant to the Gross Receipts and Compensating Tax Act. History: Laws 2005, ch. 225, § 3. ANNOTATIONSEffective dates. — Laws 2005, ch. 225 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2005, 90 days after adjournment of the legislature.
NM Stat § 7-5A-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5A - Streamlined Sales and Use Tax Administration|Section 7-5A-4 - Authority to enter agreement.

A. The secretary of taxation and revenue may enter into the agreement with one or more member states to simplify and modernize sales tax and use tax administration and to reduce the burden of tax compliance for sellers. B. The secretary of taxation and revenue is authorized to: (1) act jointly with member states to establish standards for a certified automated system and establish performance standards for multistate sellers pursuant to the agreement; (2) take actions reasonably required to implement the provisions of the Streamlined Sales and Use Tax Administration Act; and (3) adopt rules with member states pursuant to the agreement. C. The secretary of taxation and revenue or the secretary's designee is authorized to represent this state before member states. History: Laws 2005, ch. 225, § 4. ANNOTATIONSEffective dates. — Laws 2005, ch. 225 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2005, 90 days after adjournment of the legislature.
NM Stat § 7-5A-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5A - Streamlined Sales and Use Tax Administration|Section 7-5A-5 - Relationship to state law.

A provision of the agreement does not invalidate or amend any provision of state law. Implementation of a condition of the agreement shall be adopted by the legislature. History: Laws 2005, ch. 225, § 5. ANNOTATIONSEffective dates. — Laws 2005, ch. 225 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2005, 90 days after adjournment of the legislature.
NM Stat § 7-5A-7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5A - Streamlined Sales and Use Tax Administration|Section 7-5A-7 - Member states.

The agreement is an accord among member states in furtherance of their governmental functions. The agreement permits each member state to establish and maintain a cooperative, uniform, simplified system to apply sales taxes and use taxes pursuant to the law of the member state. History: Laws 2005, ch. 225, § 7. ANNOTATIONSEffective dates. — Laws 2005, ch. 225 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2005, 90 days after adjournment of the legislature.
NM Stat § 7-5A-8 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5A - Streamlined Sales and Use Tax Administration|Section 7-5A-8 - Limited binding and beneficial effect.

A. The agreement binds and benefits only this state and other member states. Only a member state is an intended beneficiary of the agreement. A benefit to a person other than a member state is established by the law of this state and member states and not by the terms of the agreement. B. A person shall not: (1) have a cause of action or a defense pursuant to the agreement; and (2) challenge an action or inaction of a department, agency, political subdivision or instrumentality of this state on the grounds that the action or inaction is not consistent with the agreement. C. A law of this state or the application of the law is valid despite the inconsistency of the law or its application with the agreement. History: Laws 2005, ch. 225, § 8. ANNOTATIONSEffective dates. — Laws 2005, ch. 225 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2005, 90 days after adjournment of the legislature.
NM Stat § 7-5A-9 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 5A - Streamlined Sales and Use Tax Administration|Section 7-5A-9 - Liability.

A. A certified service provider is liable for sales taxes and use taxes due from each member state on each sales transaction that it processes for the seller, except as otherwise provided by this section. A seller that contracts with the certified service provider is not liable to this state for sales tax or use tax due on a transaction processed by the certified service provider unless the seller misrepresents the type of item it sells or commits fraud. In the absence of probable cause that the seller has committed fraud or made a material misrepresentation, the seller is not subject to audit on transactions processed by the certified service provider. A seller is subject to audit for a transaction not processed by the certified service provider. Member states acting jointly may: (1) audit data pertaining to the seller that is stored in the certified automated system; and (2) review procedures of the seller to determine if the certified automated system functions properly and the extent to which the transactions of the seller are processed by this certified service provider. B. A certified service provider is responsible for the proper functioning of a certified automated system and is liable to this state for underpayments of tax attributable to system errors. A seller that uses a certified automated system is liable to this state for reporting and remitting tax. C. A seller that has a proprietary system for determining the amount of tax due on a transaction and has agreed to establish a performance standard for the system is liable for failure of the system to meet the standard. History: Laws 2005, ch. 225, § 9. ANNOTATIONSEffective dates. — Laws 2005, ch. 225 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2005, 90 days after adjournment of the legislature.
NM Stat § 7-6-1 to 7-6-9 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 6 - Banking and Financial Corporations Tax (Repealed.)|Section 7-6-1 to 7-6-9 - Repealed.

ANNOTATIONSRepeals. — Laws 1981, ch. 37, § 97, repealed 7-6-1 to 7-6-9 NMSA 1978, relating to the Banking and Financial Corporations Tax Act, effective January 1, 1982. For present provisions relating to corporate income tax, see Chapter 7, Article 2A NMSA 1978.
NM Stat § 7-7-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 7 - Estate Tax|Section 7-7-1 - Short title.

Sections 7-7-1 through 7-7-12 NMSA 1978 may be cited as the "Estate Tax Act". History: 1953 Comp., § 72-33-1, enacted by Laws 1973, ch. 345, § 1; 1989, ch. 122, § 1. ANNOTATIONSCross references. — For provisions applicable to administration and enforcement, see 7-1-2 and 7-7-10 NMSA 1978. The 1989 amendment, effective June 16, 1989, substituted "Sections 7-7-1 through 7-7-12 NMSA 1978" for "Sections 1 through 12 of this act". Construction of tax statutes. — Statutes imposing taxes and providing means for the collection of the same should be construed strictly insofar as they may operate to deprive the citizen of his property by summary proceedings or to impose penalties or forfeitures upon him; but otherwise tax laws ought to be construed with fairness, if not liberality, in order to carry out the intention of the legislature and further the important public interests which such statutes subserve. NBS Corp. v. Valdez, 1965-NMSC-027, 75 N.M. 379, 405 P.2d 224. Law reviews. — For symposium, "Tax Implications of the Equal Rights Amendment," see 3 N.M.L. Rev. 69 (1973). Am. Jur. 2d, A.L.R. and C.J.S. references. — Construction and application of "pay-all-taxes" provision in will, as including liability of nontestamentary property for inheritance and estate taxes, 56 A.L.R.5th 133.
NM Stat § 7-7-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 7 - Estate Tax|Section 7-7-2 - Definitions.

As used in the Estate Tax Act [7-7-1 to 7-7-12 NMSA 1978]: A. "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; B. "certificate" means a certificate of no tax due or a receipt for payment of the tax due under the Estate Tax Act; C. "decedent" means a deceased individual; D. "federal credit" means the maximum amount of the credit for estate death taxes allowed by Section 2011 for the decedent's net estate; E. "gross estate" means "gross estate" as defined and used in Section 2031 of the United States Internal Revenue Code of 1986, as amended or renumbered; F. "net estate" means "taxable estate" as defined in Section 2051 of the United States Internal Revenue Code of 1986, as amended or renumbered; G. "nonresident" means a decedent who was domiciled outside New Mexico at his death; H. "person" means any individual, estate, trust, receiver, cooperative association, club, corporation, company, firm, partnership, joint venture, syndicate or other entity and, to the extent permitted by law, any federal, state or other governmental unit or subdivision or agency, department or instrumentality thereof; I. "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; J. "property" means property included in the gross estate; K. "resident" means a decedent who was domiciled in New Mexico at his death; L. "Section 2011" means Section 2011 of the United States Internal Revenue Code of 1986, as amended or renumbered; and M. "transfer" means "transfer" as defined and used in Section 2001 of the United States Internal Revenue Code of 1986, as amended or renumbered. History: 1953 Comp., § 72-33-2, enacted by Laws 1973, ch. 345, § 2; 1974, ch. 27, § 1; 1977, ch. 249, § 63; 1986, ch. 20, § 59; 1989, ch. 122, § 2. ANNOTATIONSCross references. — For Sections 2001, 2011, 2031 and 2051 of the Internal Revenue Code, see 26 U.S.C. §§ 2001, 2011, 2031 and 2051, respectively. The 1989 amendment, effective June 16, 1989, substituted "'department'" for "'bureau' or 'department'"at the beginning of Subsection A, and substituted "1986" for "1954" in Subsections E, F, L and M. Am. Jur. 2d, A.L.R. and C.J.S. references. — Diverse adjudications, actual or potential, by courts of different states, as to domicile of decedent as regards taxation, probate of will, administration or distribution of estate, 121 A.L.R. 1200. What passes under term "personal property" in will, 31 A.L.R.5th 499. 85 C.J.S. Taxation §§ 1797 to 1801, 1824 to 1825.
NM Stat § 7-7-3 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 7 - Estate Tax|Section 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. History: 1953 Comp., § 72-33-3, enacted by Laws 1973, ch. 345, § 3. ANNOTATIONSCross references. — For the meaning of "Section 2011", see 7-7-2L NMSA 1978. Am. Jur. 2d, A.L.R. and C.J.S. references. — 42 Am. Jur. 2d Inheritance, Estate and Gift Taxes §§ 106 and 122. Review of decisions of United States supreme court since Union Refrigerator Transit Co. v. Kentucky, 199 U.S. 194, 26 S. Ct. 36, 50 L. Ed. 150 (1905), on situs of personal property for purposes of taxation, 123 A.L.R. 179, 139 A.L.R. 1463, 153 A.L.R. 270. Deductibility from testator's gross estate, under 26 USCS § 2055, of bequests for public, charitable, and religious uses, 46 A.L.R. Fed. 246. 85 C.J.S. Taxation §§ 1792 et seq., 1819 to 1824, 1929 to 1931.
NM Stat § 7-7-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 7 - Estate Tax|Section 7-7-4 - Nonresidents; tax imposed; exemption.

A. Tax in an amount computed as provided in this section is imposed on the transfer of the net estate located in New Mexico of every nonresident. B. The tax shall be computed by multiplying the federal credit by a fraction, the numerator of which is the value of the property located in New Mexico and the denominator of which is the value of the decedent's gross estate. C. For purposes of this section, the following is included as property located in New Mexico: (1) debts arising from transactions in, or having a business situs in, New Mexico; and (2) the securities of any corporation or other entity organized under the laws of New Mexico. D. The transfer of the personal property of a nonresident is exempt from the tax imposed by this section to the extent that the personal property of residents is exempt from taxation under the laws of the state in which the nonresident is domiciled. History: 1953 Comp., § 72-33-4, enacted by Laws 1973, ch. 345, § 4; 1999, ch. 47, § 8. ANNOTATIONSThe 1999 amendment, effective June 18, 1999, inserted "personal" in two places in Subsection D. Am. Jur. 2d, A.L.R. and C.J.S. references. — 42 Am. Jur. 2d Inheritance, Estate and Gift Taxes §§ 3 to 4, 59 et seq., and 223. Deductibility from testator's gross estate, under 26 USCS § 2055, of bequests for public, charitable, and religious uses, 46 A.L.R. Fed. 246. 85 C.J.S. Taxation §§ 1794 to 1795, 1800 to 1802, 1819, 1825.
NM Stat § 7-7-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 7 - Estate Tax|Section 7-7-5 - Tax return.

The personal representative of every estate subject to the tax imposed by the Estate Tax Act [7-7-1 to 7-7-12 NMSA 1978] who is required by the laws of the United States to file a federal estate tax return shall file with the department on or before the date the federal estate tax return is required to be filed, including any extension of time for filing the federal estate tax return: A. a return for the taxes due under the Estate Tax Act; and B. a copy of the federal estate tax return. History: 1953 Comp., § 72-33-5, enacted by Laws 1973, ch. 345, § 5; 1989, ch. 122, § 3. ANNOTATIONSThe 1989 amendment, effective June 16, 1989, substituted "department" for "bureau" in the undesignated introductory paragraph. Am. Jur. 2d, A.L.R. and C.J.S. references. — 42 Am. Jur. 2d Inheritance, Estate and Gift Taxes §§ 318 to 322, 327, 335, 342. 85 C.J.S. Taxation §§ 1883 to 1888, 1896 to 1897, 1976, 1982.
NM Stat § 7-7-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 7 - Estate Tax|Section 7-7-6 - Date payment due.

The taxes imposed by the Estate Tax Act [7-7-1 to 7-7-12 NMSA 1978] shall be paid by the personal representative on or before the date the return for the taxes is required by Section 7-7-5 NMSA 1978 to be filed. History: 1953 Comp., § 72-33-6, enacted by Laws 1973, ch. 345, § 6; 1989, ch. 122, § 4. ANNOTATIONSThe 1989 amendment, effective June 16, 1989, substituted "Section 7-7-5 NMSA 1978" for "Section 5 of the Estate Tax Act". Personal representative is liable for state inheritance tax. Cosby v. Shackelford, 408 F.2d 1144 (10th Cir. 1969) (decided under former law). Am. Jur. 2d, A.L.R. and C.J.S. references. — 42 Am. Jur. 2d Inheritance, Estate and Gift Taxes §§ 248 to 252, 257, 265, 272. 85 C.J.S. Taxation §§ 1883 to 1888, 1896 to 1897, 1976, 1982.