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.
Effective 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.
Structure New Mexico Statutes
Article 2 - Income Tax General Provisions
Section 7-2-3 - Imposition and levy of tax.
Section 7-2-5.2 - Exemption; income of persons sixty-five and older or blind.
Section 7-2-5.6 - Exemption; medical care savings accounts.
Section 7-2-5.7 - Exemption; income of individuals one hundred years of age or older.
Section 7-2-5.8 - Exemption for low- and middle-income taxpayers.
Section 7-2-5.11 - Exemption; armed forces salaries.
Section 7-2-7 - Individual income tax rates.
Section 7-2-7 - Individual income tax rates. (Effective January 1, 2006 through December 31, 2007.)
Section 7-2-7.2 - Tax rebate; 2005 taxable year. (Effective for 2005 tax year.)
Section 7-2-7.3 - Exemption; 2005 taxable year rebate. (Effective for 2005 tax year.)
Section 7-2-7.4 - 2020 income tax rebate.
Section 7-2-9 - Tax computation; alternative method.
Section 7-2-10 - Income taxes applied to individuals on federal areas.
Section 7-2-11 - Tax credit; income allocation and apportionment.
Section 7-2-12 - Taxpayer returns; payment of tax.
Section 7-2-12.1 - Limitation on claiming of credits and tax rebates.
Section 7-2-12.2 - Estimated tax due; payment of estimated tax; penalty.
Section 7-2-13 - Credit for taxes paid other states by resident individuals.
Section 7-2-14 - Low-income comprehensive tax rebate.
Section 7-2-14.5 - Imposition of tax; limitations.
Section 7-2-18.2 - Credit for preservation of cultural property; refund.
Section 7-2-18.4 - Qualified business facility rehabilitation credit; income tax credit.
Section 7-2-18.5 - Welfare-to-work tax credit.
Section 7-2-18.8 - Credit; certain electronic equipment.
Section 7-2-18.10 - Tax credit; certain conveyances of real property.
Section 7-2-18.11 - Job mentorship tax credit.
Section 7-2-18.15 - Working families tax credit.
Section 7-2-18.17 - Angel investment credit.
Section 7-2-18.18 - Renewable energy production tax credit.
Section 7-2-18.19 - Sustainable building tax credit.
Section 7-2-18.21 - Credit; blended biodiesel fuel.
Section 7-2-18.22 - Tax credit; rural health care practitioner tax credit.
Section 7-2-18.23 - Refundable credit; 2007 taxable year.
Section 7-2-18.24 - Geothermal ground-coupled heat pump tax credit.
Section 7-2-18.25 - Advanced energy income tax credit.
Section 7-2-18.26 - Agricultural biomass income tax credit.
Section 7-2-18.27 - Credit; physician participation in cancer treatment clinical trials.
Section 7-2-18.28 - Veteran employment tax credit.
Section 7-2-18.29 - 2015 sustainable building tax credit.
Section 7-2-18.30 - Foster youth employment income tax credit.
Section 7-2-18.31 - New solar market development income tax credit.
Section 7-2-18.32 - 2021 sustainable building tax credit.
Section 7-2-20 - Information returns.
Section 7-2-21 - Fiscal years permitted.
Section 7-2-21.1 - Accounting methods.
Section 7-2-22 - Administration.
Section 7-2-23 - Finding[; wildlife funds].
Section 7-2-24 - Optional designation of tax refund contribution [; game protection fund].
Section 7-2-24.1 - Optional designation of tax refund contribution for tree plantings.
Section 7-2-24.2 - Optional designation of tax refund contribution; healthy soil program.
Section 7-2-28 - Optional designation of tax refund contribution.
Section 7-2-28.1 - Veterans' state cemetery fund; created.
Section 7-2-30 - Optional designation of tax refund contribution [; substance abuse education fund].
Section 7-2-30.4 - Optional designation of tax refund contribution; Vietnam veterans memorial.
Section 7-2-30.5 - Optional designation of tax refund contribution; veterans' enterprise fund.
Section 7-2-30.6 - Optional designation of tax refund contribution; lottery tuition fund.
Section 7-2-30.7 - Optional designation of tax refund contribution; horse shelter rescue fund.
Section 7-2-30.8 - Finding; optional designation of tax refund contribution; senior services.
Section 7-2-30.9 - Optional designation of tax refund contribution; animal care and facility fund.
Section 7-2-30.11 - Optional designation of tax refund contribution; New Mexico housing trust fund.
Section 7-2-31 - Optional designation of tax refund contribution.
Section 7-2-31.1 - Optional refund contribution provisions; conditional repeal.
Section 7-2-32 - Deduction-payments into education trust fund.
Section 7-2-34 - Deduction; net capital gain income.
Section 7-2-36 - Deduction; expenses related to organ donation.
Section 7-2-37 - Deduction; unreimbursed or uncompensated medical care expenses.
Section 7-2-39 - Deduction from net income for certain dependents.
Section 7-2-40 - Deduction; income from leasing a liquor license.