reglab/housing_qa huggingface dataset:
NM Stat § 7-2-5.2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-5.2 - Exemption; income of persons sixty-five and older or blind.

Any individual sixty-five years of age or older or who, for federal income tax purposes, is blind may claim an exemption in an amount specified in Subsections A through C of this section not to exceed eight thousand dollars ($8,000) of income includable except for this exemption in net income. Individuals having income both within and without this state shall apportion this exemption in accordance with regulations of the secretary: A. for married individuals filing separate returns, for any taxable year beginning on or after January 1, 1987: || If adjusted gross income is:    The maximum amount of  exemption allowable under this section shall be:   || Not over $15,000    $8,000   || Over $15,000 but not over $16,500    $7,000   || Over $16,500 but not over $18,000    $6,000   || Over $18,000 but not over $19,500    $5,000   || Over $19,500 but not over $21,000    $4,000   || Over $21,000 but not over $22,500    $3,000   || Over $22,500 but not over $24,000    $2,000   || Over $24,000 but not over $25,500    $1,000   || Over $25,500    0.   |B. for heads of household, surviving spouses and married individuals filing joint returns, for any taxable year beginning on or after January 1, 1987: || If adjusted gross income is:    The maximum amount of  exemption allowable under this section shall be:   || Not over $30,000    $8,000   || Over $30,000 but not over $33,000    $7,000   || Over $33,000 but not over $36,000    $6,000   || Over $36,000 but not over $39,000    $5,000   || Over $39,000 but not over $42,000    $4,000   || Over $42,000 but not over $45,000    $3,000   || Over $45,000 but not over $48,000    $2,000   || Over $48,000 but not over $51,000    $1,000   || Over $51,000    0.   |C. for single individuals, for any taxable year beginning on or after January 1, 1987: || If adjusted gross income is:    The maximum amount of  exemption allowable under this section shall be:   || Not over $18,000    $8,000   || Over $18,000 but not over $19,500    $7,000   || Over $19,500 but not over $21,000    $6,000   || Over $21,000 but not over $22,500    $5,000   || Over $22,500 but not over $24,000    $4,000   || Over $24,000 but not over $25,500    $3,000   || Over $25,500 but not over $27,000    $2,000   || Over $27,000 but not over $28,500    $1,000   || Over $28,500    0.   |History: 1978 Comp., § 7-2-5.2, enacted by Laws 1985, ch. 114, § 1; 1987, ch. 264, § 6. ANNOTATIONSApplicability. — Laws 1987, ch. 264, § 27 made the provisions of Sections 6 and 7 and Subsection B of Section 25 of the act applicable to taxable years beginning on or after January 1, 1987. Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation §§ 334, 464. 85 C.J.S. Taxation §§ 1736 and 1737.
NM Stat § 7-2-5.3 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-5.3 - Repealed.

ANNOTATIONSRepeals. — Laws 1990, ch. 49, § 18 repealed 7-2-5.3 NMSA 1978, as amended by Laws 1987, ch. 277, § 2, relating to exemption for social security and railroad retirement benefits, effective May 16, 1990. For provisions of former section, see the 1989 NMSA 1978 on NMOneSource.com.
NM Stat § 7-2-5.4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-5.4 - Repealed.

History: 1978 Comp., § 7-2-5.4, enacted by Laws 1988, ch. 59, § 1; 1995, ch. 11, § 1; 2007, ch. 45, § 14.ANNOTATIONSRepeals. — Laws 2007, ch. 45, § 14 repealed 7-2-5.4 NMSA 1978, being Laws 1988, ch. 59, § 1, relating to tax exemptions for an adopted special needs child, effective for tax years beginning on or after January 1, 2007. For provisions of former section, see the 2006 NMSA 1978 on NMOneSource.com.
NM Stat § 7-2-5.5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-5.5 - Exemption; earnings by Indians, their Indian spouses and Indian dependents on Indian lands.

Income earned by a member of a New Mexico federally recognized Indian nation, tribe, band or pueblo, his spouse or dependent, who is a member of a New Mexico federally recognized Indian nation, tribe, band or pueblo, is exempt from state income tax if the income is earned from work performed within and the member, spouse or dependent lives within the boundaries of the Indian member's or the spouse's reservation or pueblo grant or within the boundaries of lands held in trust by the United States for the benefit of the member or spouse or his nation, tribe, band or pueblo, subject to restriction against alienation imposed by the United States. History: Laws 1995, ch. 42, § 1. ANNOTATIONSEffective dates. — Laws 1995, ch. 42 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 1995, 90 days after the adjournment of the legislature.
NM Stat § 7-2-5.6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-5.6 - Exemption; medical care savings accounts.

Except as provided in Section 6 [59A-23D-6 NMSA 1978] of this act, employer and employee contributions to medical care savings accounts established pursuant to the Medical Care Savings Account Act [Chapter 59A, Article 23D NMSA 1978], the interest earned on those accounts and money reimbursed to an employee for eligible medical expenses from those accounts or money advanced to the employee by the employer for eligible medical expenses pursuant to that act are exempt from taxation. History: Laws 1995, ch. 93, § 8. ANNOTATIONSEffective dates. — Laws 1995, ch. 93 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 16, 1995, 90 days after the adjournment of the legislature.
NM Stat § 7-2-5.7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-5.7 - Exemption; income of individuals one hundred years of age or older.

The income of an individual who is a natural person, who is one hundred years of age or older and who is not a dependent of another individual is exempt from state income tax. History: Laws 2002, ch. 58, § 1. ANNOTATIONSEffective dates. — Laws 2002, ch. 58 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective May 15, 2002, 90 days after adjournment of the legislature.
NM Stat § 7-2-5.9 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-5.9 - Exemption; unreimbursed or uncompensated medical care expenses of individuals sixty-five years of age or older.

A. Any individual sixty-five years of age or older may claim an additional exemption from income includable, except for this exemption, in net income in an amount equal to three thousand dollars ($3,000) for medical care expenses paid by the individual for that individual or for the individual's spouse or dependent during the taxable year if those medical care expenses exceed twenty-eight thousand dollars ($28,000) and if the medical care expenses are not reimbursed or compensated for by insurance or otherwise. B. As used in this section: (1) "dependent" means "dependent" as defined in Section 152 of the Internal Revenue Code; (2) "health care facility" means a hospital, outpatient facility, diagnostic and treatment center, rehabilitation center, freestanding hospice or other similar facility at which medical care is provided; (3) "medical care" means the diagnosis, cure, mitigation, treatment or prevention of disease or for the purpose of affecting any structure or function of the body; (4) "medical care expenses" means amounts paid for: (a) the diagnosis, cure, mitigation, treatment or prevention of disease or for the purpose of affecting any structure or function of the body if provided by a physician or in a health care facility; (b) prescribed drugs or insulin; (c) qualified long-term care services as defined in Section 7702B(c) of the Internal Revenue Code; (d) insurance covering medical care, including amounts paid as premiums under Part B of Title 18 of the Social Security Act or for a qualified long-term care insurance contract defined in Section 7702B(b) of the Internal Revenue Code, if the insurance or other amount is paid from income included in the taxpayer's adjusted gross income for the taxable year; (e) specialized treatment or the use of special therapeutic devices if the treatment or device is prescribed by a physician and the patient can show that the expense was incurred primarily for the prevention or alleviation of a physical or mental defect or illness; and (f) care in an institution other than a hospital, such as a sanitarium or rest home, if the principal reason for the presence of the person in the institution is to receive the medical care available; provided that if the meals and lodging are furnished as a necessary part of such care, the cost of the meals and lodging are "medical care expenses"; (5) "physician" means a medical doctor, osteopathic physician, dentist, podiatrist, chiropractic physician or psychologist licensed or certified to practice in New Mexico; and (6) "prescribed drug" means a drug or biological that requires a prescription of a physician for its use by an individual. History: Laws 2005, ch. 104, § 6. ANNOTATIONSEffective dates. — Laws 2005, ch. 104, § 29, made Laws 2005, ch. 104, § 6 effective January 1, 2006. Applicability. — Laws 2005, ch. 104, § 29 provided that Laws 2005, ch. 104, § 6 applied to taxable years beginning on or after January 1, 2007.
NM Stat § 7-2-5.10 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-5.10 - Exemption; New Mexico national guard member premiums paid for group life insurance.

An individual who receives reimbursement from the service members' life insurance reimbursement fund may claim an exemption in the amount of that reimbursement, from income includable, except for this exemption, in net income. History: Laws 2006, ch. 50, § 1. ANNOTATIONSEffective dates. — Laws 2006, ch. 50, § 3 made Laws 2006, ch. 50, § 1 effective March 2, 2006. Applicability. — Laws 2006, ch. 50, § 2, effective March 2, 2006, provided that Laws 2006, ch. 50, § 1 applies to taxable years beginning on or after January 1, 2005.
NM Stat § 7-2-5.11 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-5.11 - Exemption; armed forces salaries.

A salary paid by the United States to a taxpayer for active duty service in the armed forces of the United States is exempt from state income taxation. History: Laws 2007, ch. 45, § 11. ANNOTATIONSEffective dates. — Laws 2007, ch. 45, § 11, contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature. Applicability. — Laws 2007, ch. 45, § 15 provided that Laws 2007, ch. 45, §§ 7 through 11 apply to taxable years beginning on or after January 1, 2007. Service in the United States public health service is not service in the armed forces. — Where taxpayer claimed a tax exemption for wages earned in the service of the United States public health service (USPHS) pursuant to this section, the hearing officer did not err in concluding that taxpayer was not in the "armed forces" for the relevant tax years and therefore did not qualify for the armed forces salaries exemption, because commissioned officers of the USPHS are not members of the "armed forces" as that term is defined in New Mexico state or federal statutes, and regulations defining "armed forces" do not modify this section of law, but were enacted to implement and enforce the New Mexico Income Tax Act. Hammack v. Taxation & Revenue Dep't, 2017-NMCA-086, cert. denied.
NM Stat § 7-2-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-6 - Repealed.

ANNOTATIONSRepeals. — Laws 1990, ch. 49, § 18 repealed 7-2-6 NMSA 1978, as enacted by Laws 1977, ch. 300, § 1, relating to exemptions for annuities paid to retired judges of the district court, court of appeals judges, and supreme court justices, effective May 16, 1990. For provisions of former section, see the 1989 NMSA 1978 on NMOneSource.com.
NM Stat § 7-2-7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-7 - Individual income tax rates.

The tax imposed by Section 7-2-3 NMSA 1978 shall be at the following rates for any taxable year beginning on or after January 1, 2021: A. For married individuals filing separate returns:|| If the taxable income is:   The tax shall be:  || Not over $4,000   1.7% of taxable income  || Over $4,000 but not over $8,000   $68.00 plus 3.2% of excess over $4,000  || Over $8,000 but not over $12,000   $196 plus 4.7% of excess over $8,000  || Over $12,000 but not over $157,500   $384 plus 4.9% of excess over $12,000  || Over $157,500   $7,513.50 plus 5.9% of excess over $157,500.  |B. For heads of household, surviving spouses and married individuals filing joint returns:|| If the taxable income is:   The tax shall be:  || Not over $8,000   1.7% of taxable income  || Over $8,000 but not over $16,000   $136 plus 3.2% of excess over $8,000  || Over $16,000 but not over $24,000   $392 plus 4.7% of excess over $16,000  || Over $24,000 but not over $315,000   $768 plus 4.9% of excess over $24,000  || Over $315,000   $15,027 plus 5.9% of excess over $315,000.  |C. For single individuals and for estates and trusts:|| If the taxable income is:   The tax shall be:  || Not over $5,500   1.7% of taxable income  || Over $5,500 but not over $11,000   $93.50 plus 3.2% of excess over $5,500  || Over $11,000 but not over $16,000   $269.50 plus 4.7% of excess over $11,000  || Over $16,000 but not over $210,000   $504.50 plus 4.9% of excess over $16,000  || Over $210,000   $10,010.50 plus 5.9% of excess over $210,000.  |D. The tax on the sum of any lump-sum amounts included in net income is an amount equal to five multiplied by the difference between:(1) the amount of tax due on the taxpayer's taxable income; and(2) the amount of tax that would be due on an amount equal to the taxpayer's taxable income and twenty percent of the taxpayer's lump-sum amounts included in net income.History: Laws 2005, ch. 104, § 4; 2019, ch. 270, § 12. ANNOTATIONSCompiler's notes. — Pursuant to Laws 2019, ch. 270, § 61, the effective date of Laws 2019, ch. 270, § 12 is December 18, 2020. On December 18, 2020, the secretary of finance and administration certified to the New Mexico compilation commission and the director of the legislative council service that fiscal year 2020 recurring general fund revenues are less than five percent above fiscal year 2019 recurring general fund revenues.The 2019 amendment, effective December 18, 2020, revised individual income tax rates and individual income tax brackets; in Subsection A, after "If the taxable income is", deleted the remainder of the subsection; deleted former Subsections B and C and added new Subsections B and C.Applicability. — Laws 2019, ch. 270, § 59 provided that the provisions of Laws 2019, ch. 270, § 12 apply to taxable years beginning on or after January 1, 2021.
NM Stat § 7-2-7.1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-7.1 - Tax tables.

In lieu of the tax rate computations required in Section 7-2-7 NMSA 1978, the secretary may adopt regulations requiring taxpayers to pay taxes in accordance with tax rate tables. The tax tables may be established either by regulation or by instruction but shall be computed substantially on the basis of the rates prescribed in Section 7-2-7 NMSA 1978. The secretary may by regulation or instruction exclude from the application of this section taxpayers having net incomes in excess of an amount to be determined by the secretary and may exclude taxpayers in any net-income class having more exemptions than the number of exemptions specified by the secretary for that category. History: 1978 Comp., § 7-2-7.1, enacted by Laws 1980, ch. 102, § 1; 1981, ch. 37, § 18; 1990, ch. 49, § 3; 1995, ch. 11, § 2. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, inserted "may be established either by regulation or by instruction but" in the second sentence and "or instruction" near the beginning of the third sentence. The 1990 amendment, effective May 16, 1990, substituted "secretary" for "director" in the first and third sentences and for "secretary of taxation and revenue" near the middle and end of the third sentence.
NM Stat § 7-2-7.3 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-7.3 - Exemption; 2005 taxable year rebate. (Effective for 2005 tax year.)

The tax rebate made for the 2005 taxable year pursuant to this 2005 act is exempt from state income tax. History: Laws 2005 (1st S.S.), ch. 3, § 4. ANNOTATIONSEffective dates. — Laws 2005 (1st S.S.), ch. 3, § 8 made Laws 2005 (1st S.S.), ch. 3, § 4 effective October 28, 2005.
NM Stat § 7-2-7.4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-7.4 - 2020 income tax rebate.

A. A resident who is not a dependent of another individual and has received a working families tax credit for which the taxpayer was eligible to claim against the resident's income tax liability for taxable year 2020 may be eligible for a tax rebate of six hundred dollars ($600); provided that the resident had the following adjusted gross income for taxable year 2020:(1) for single individuals, an adjusted gross income of thirty-one thousand two hundred dollars ($31,200) or less; and(2) for heads of household, surviving spouses and married individuals filing joint returns, an adjusted gross income of thirty-nine thousand dollars ($39,000) or less.B. The rebate provided by this section may be deducted from the taxpayer's New Mexico income tax liability.C. If the amount of rebate exceeds the taxpayer's income tax liability, the excess shall be refunded to the taxpayer.D. The department may require a taxpayer to claim the rebate provided by this section on forms and in a manner required by the department.E. The rebate provided by this section shall not be allowed after June 30, 2022.History: Laws 2021, ch. 4, § 2. ANNOTATIONSEmergency clauses. — Laws 2021, ch. 4, § 6 contained an emergency clause and was approved March 3, 2021.
NM Stat § 7-2-8 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-8 - Repealed.

ANNOTATIONSRepeals. — Laws 1981, ch. 37, § 96, repealed 7-2-8 NMSA 1978, as enacted by Laws 1965, ch. 202, § 6, relating to corporate income tax rates, effective June 19, 1981.
NM Stat § 7-2-9 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-9 - Tax computation; alternative method.

For those taxpayers who do not compute an amount upon which the federal income tax is calculated or who do not compute their federal income tax payable for the taxable year, the secretary shall prescribe such regulations or instructions as the secretary may deem necessary to enable them to compute their state income tax due. History: 1953 Comp., § 72-15A-7, enacted by Laws 1965, ch. 202, § 7; 1981, ch. 37, § 19; 1990, ch. 49, § 4. ANNOTATIONSThe 1990 amendment, effective May 16, 1990, substituted "secretary shall" and "the secretary may deem" for "director shall" and "he may deem".
NM Stat § 7-2-10 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-10 - Income taxes applied to individuals on federal areas.

To the extent permitted by law, no individual shall be relieved from liability for income tax by reason of his residing within a federal area or receiving income from transactions occurring or work or services performed in such area. History: 1953 Comp., § 72-15A-8, enacted by Laws 1965, ch. 202, § 8; 1981, ch. 37, § 20. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation §§ 474, 483, 493. 85 C.J.S. Taxation §§ 1693 et seq.
NM Stat § 7-2-12.1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-12.1 - Limitation on claiming of credits and tax rebates.

A. Except as provided otherwise in this section, a credit or tax rebate provided in the Income Tax Act that is claimed shall be disallowed if the claim for the credit or tax rebate was first made after the end of the third calendar year following the calendar year in which the return upon which the credit or tax rebate was first claimable was initially due. B. Subsection A of this section does not apply to: (1) the credit authorized by Section 7-2-13 NMSA 1978 for income taxes paid another state; or (2) the credit authorized by Section 7-2-19 NMSA 1978 [repealed] for income taxes paid another state. History: 1978 Comp., § 7-2-12.1, enacted by Laws 1990, ch. 23, § 1. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Section 7-2-19 NMSA 1978, referred to in Paragraph B(2), was repealed by Laws 1990, ch. 49, § 19, effective May 16, 1990.
NM Stat § 7-2-14.1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-14.1 - Repealed.

ANNOTATIONSRepeals. — Laws 1993, ch. 356, § 1 repealed 7-2-14.1 NMSA 1978, as enacted by Laws 1987, ch. 264 § 8, relating to a tax rebate for gross receipts tax on food and medical expenses, effective July 1, 1993. For provisions of former section, see the 1992 NMSA 1978 on NMOneSource.com.
NM Stat § 7-2-14.2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-14.2 - Repealed.

ANNOTATIONSRepeals. — Laws 1987, ch. 264, § 25B repealed 7-2-14.2 NMSA 1978, as enacted by Laws 1979, ch. 70, § 2, relating to withholding instructions, effective June 19, 1987.
NM Stat § 7-2-14.5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 2 - Income Tax General Provisions|Section 7-2-14.5 - Imposition of tax; limitations.

A. If, as a result of an election held on the question of imposing a property tax to fund the property tax rebate for low-income taxpayers provided in the Income Tax Act, a majority of the qualified electors voting on the question votes in favor of the imposition of the tax, the tax rate shall be certified by the department of finance and administration for any year in which the tax is imposed. The rate certified shall be the rate specified in the authorizing resolution or any lower rate required by operation of the rate limitation provisions of Section 7-37-7.1 NMSA 1978. The tax shall be imposed at the rate certified unless the board of county commissioners determines that the tax imposition be decreased or not made pursuant to Subsection B of this section. The revenue produced by the tax shall be placed in a separate fund in the county treasury and is pledged solely for the payment of the income tax revenue reduction resulting from the implementation of the property tax rebate for low-income taxpayers. B. A tax imposed pursuant to Subsection A of this section shall be imposed for one, two, three, four or five years commencing with the property tax year in which the tax rate is first imposed. The board of county commissioners may direct that the rate of imposition of the tax be decreased for any year if, in its judgment, imposition of the total rate is not necessary for such year. The board of county commissioners shall direct that the imposition not be made for any property tax year for which the property tax rebate for low-income taxpayers is not provided or for any year in which the county has imposed a property transfer tax pursuant to the Transfer Tax Act. History: Laws 1994, ch. 111, § 3. ANNOTATIONSEffective dates. — Laws 1994, ch. 111, § 6 made Laws 1994, ch. 111, § 3 effective on July 1, 1994.