New Mexico

The information presented here is offered for very limited illustrative purposes. It is not intended to be comprehensive, complete or up to date. None of the states, nor SABA, nor NAAG makes any representations or warranties concerning its accuracy.


YOU ARE STRONGLY ADVISED TO CONDUCT YOUR OWN LEGAL RESEARCH CONCERNING YOUR COMPLIANCE RESPONSIBILITIES AND LEGAL OBLIGATIONS IN ANY STATE AND TO OBTAIN YOUR OWN ADVICE OF LOCAL COUNSEL.


 

Taxes:

New Mexico State Government: http://www.newmexico.gov/

Taxation and Revenue Department: http://www.state.nm.us/tax/

Address for bankruptcy notices (not service of process) to Taxation and Revenue Department, and requests for determination under 11 U.S.C.§ 505(b):
NM Taxation and Revenue Department
Bankruptcy Section
P.O. Box 8587
Albuquerque, New Mexico 87198-8785

New Mexico Statutes and Rules:
http://www.conwaygreene.com/nmsu/lpext.dll?f=templates&fn=main-h.htm&2.0

New Mexico Administrative Code:
http://www.nmcpr.state.nm.us/nmac/

Taxation: Chapter 7, New Mexico Statutes Annotated 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=templates&fn=main-h.htm&2.0

Tax Administration Act, §7-1-1, et seq., NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=4675#JD_Ch7Art1

Income Tax General Provisions, §7-2-1, et seq., NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=4679#JD_Ch7Art2

Corporate Income and Franchise Tax, §7-2A-1, et seq., NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=467b#JD_Ch7Art2A

If the net income is: The tax shall be:
Not over $500,000 4.8% of net income
Over $500,000
but not over $1,000,000
$24,000 plus 6.4%
of excess over $500,000
Over $1,000,000 $56,000 plus 7.6%
of excess over $1,000,000


Income Tax Withholding, §7-3-1, et seq., NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=4689#JD_Ch7Art3

Oil & Gas Proceeds Withholding Tax, §7-3A-1, et seq, NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=468b#JD_Ch7Art3A

Estate Tax, §7-7-1, et seq., NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=4695#JD_Ch7Art7

Gross Receipts and Compensating Tax, §7-9-1, et seq., NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=2c8d#JD_ch7art9

§7-9-4 (A).For the privilege of engaging in business, an excise tax equal to five percent of gross receipts is imposed on any person engaging in business in New Mexico.
Note: Counties and municipalities may impose a local Gross Receipts tax; the effective rate therefore varies by location. See: http://www.state.nm.us/tax/pubs/GrossReceiptsRates/gross_receipts_rate_sched.htm

Severance Tax, §7-26-1, et seq., NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=46f3#JD_Ch7Art26

Oil & Gas Severance Tax, §7-29-1, et seq., NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=46f9#JD_Ch7Art29
Property Tax Code, Articles 35-38, Chapter 7, NMSA 1978
Generally assessed and administered at the county level

Valuation of Property, §7-36-1, et seq., NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=470b#JD_Ch7Art36

Imposition of Property Tax, §7-37-1, et seq., NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=470d#JD_Ch7Art37

Administration and Enforcement of Property Taxes, §7-38-1, et seq., NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=27cb#JD_ch7art38

Employment: Chapter 51, NMSA 1978
Unemployment Compensation
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=jump&iid=67290cb.6decd45c.0.0&nid=1106f#JD_Ch51Art1

Workers’ Compensation: Chapter 52, NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=templates&fn=main-h.htm&2.0

Environmental: Chapter 74, NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=query&iid=67290cb.6decd45c.0.0&q=%5BGroup%20%27Ch.%2074%27%5D

Environmental Regulations: http://www.nmcpr.state.nm.us/nmac/_title20/title20.htm

Air Quality Regulations: 20.2 NMAC: http://www.nmcpr.state.nm.us/nmac/_title20/T20C002.htm

Exemptions: Article 10, Chapter 42
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=query&iid=67290cb.6decd45c.0.0&q=%5BGroup%20%27Ch.%2042,%20Art.%2010%27%5D

Homestead exemption: §42-10-9, NMSA 1978
$30,000 each person.
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=query&iid=67290cb.6decd45c.0.0&q=%5BGroup%20%2742-10-9%27%5D

Assignments and Insolvency:

Transfers to Prefer Creditors: Article 9, Chapter 56 NMSA
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=query&iid=67290cb.6decd45c.0.0&q=%5BGroup%20%27Ch.%2056,%20Art.%209%27%5D

Fraudulent Transfers: Article 10, Chapter 56 NMSA 1978
http://www.conwaygreene.com/nmsu/lpext.dll?f=FifLink&t=document-frame.htm&l=query&iid=67290cb.6decd45c.0.0&q=%5BGroup%20%27Ch.%2056,%20Art.%2010%27%5D

Service of Process on State Agencies: §38-1-17, NMSA 1978
Generally, service must be made upon the Attorney General, and the head of the branch, agency, bureau, department, commission or institution involved.
 

Address for service on the Attorney General:
408 Galisteo Street
Santa Fe, New Mexico 87501
P.O. Drawer 1508
Santa Fe, New Mexico 87504-1508
Address for service on the Secretary of the Taxation and Revenue Department:
1100 St. Francis Dr. #1100
Santa Fe, NM 87504
P.O. Box 630
Santa Fe, NM 87504


Title 3 Taxes

http://www.nmcpr.state.nm.us/nmac/_title03/title03.htm

Gross Receipts Tax, 3.2 NMAC
http://www.nmcpr.state.nm.us/nmac/_title03/T03C002.htm

Property Tax, 3.6 NMAC
http://www.nmcpr.state.nm.us/nmac/_title03/T03C006.htm

Personal Income Tax, 3.3 NMAC
http://www.nmcpr.state.nm.us/nmac/_title03/T03C003.htm

Corporate Income Tax, 3.4 NMAC
http://www.nmcpr.state.nm.us/nmac/_title03/T03C004.htm

Estate Tax, 3.8 NMAC
http://www.nmcpr.state.nm.us/nmac/_title03/T03C008.htm

Cigarette and Tobacco Products Taxes, 3.9 NMAC
http://www.nmcpr.state.nm.us/nmac/_title03/T03C009.htm

Motor Vehicle Taxes and Fees, 3.11 NMAC
http://www.nmcpr.state.nm.us/nmac/_title03/T03C011.htm

Business Tax Credits, 3.13 NMAC
http://www.nmcpr.state.nm.us/nmac/_title03/T03C013.htm

Oil and Gas Taxes, 3.18 NMAC
http://www.nmcpr.state.nm.us/nmac/_title03/T03C018.htm

Severance Tax, 3.19 NMAC
http://www.nmcpr.state.nm.us/nmac/_title03/T03C018.htm

Workers’ Compensation Fee, 3.26 NMAC
http://www.nmcpr.state.nm.us/nmac/_title03/T03C025.htm
 


Labor:

Title 11 Labor & Workers' Compensation
http://www.nmcpr.state.nm.us/nmac/_title11/title11.htm

Workers’ Compensation, 11.4 NMAC
http://www.nmcpr.state.nm.us/nmac/_title11/T11C004.htm

Wage and Hour/ Labor General Provisions, 11.1.4 NMAC
http://www.nmcpr.state.nm.us/nmac/_title11/T11C001.htm

 


Environmental:

Title 20
http://www.nmcpr.state.nm.us/nmac/_title20/title20.htm

Air Quality, 20.2 NMAC:
http://www.nmcpr.state.nm.us/nmac/_title20/T20C002.htm


Exemptions and Homesteads:

Total Bankruptcy.com
http://www.totalbankruptcy.com/state_exemptions_new_mexico.htm

Homesteads, 42.10 NMAC:
http://www.conwaygreene.com/nmsu/lpext.dll?f=templates&fn=main-hit-h.htm&2.0

Exeptions from Attachment:
http://www.conwaygreene.com/nmsu/lpext.dll?f=templates&fn=main-hit-h.htm&2.0

Exemptions, 42.10 NMAC:
http://www.conwaygreene.com/nmsu/lpext.dll?f=templates&fn=main-hit-h.htm&2.0


Assignments and Insolvency:

Transfers to Prefer Creditors, 56.9 NMAC: http://www.conwaygreene.com/nmsu/lpext.dll?f=templates&fn=main-hit-h.htm&2.0

Insolvency, 59A NMAC:
http://www.conwaygreene.com/nmsu/lpext.dll?f=templates&fn=main-hit-h.htm&2.0


.PDF Documents

Summary Of Reality Transfer Taxes By State

Knudsen Docket.pdf

Knudsen-Debtor's Brief.pdf

Knudsen-Edmonds Op..pdf

Knudsen-IRS Brief.pdf

 

States’ Association of Bankruptcy Attorneys
P. O. Box 262, Albuquerque, New Mexico 87103-0262
inquiry@statesbankruptcy.org

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