N.M. Stat. § 7-2-5.14
This is the official text of N.M. Stat. § 7-2-5.14, part of New Mexico’s Stat — part of the compiled statutory law of New Mexico, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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§ 7-2-5.14. Exemption; social security income
Official statutory text
An individual may claim an exemption in an amount equal to the amount included in adjusted gross income pursuant to Section 86 of the Internal Revenue Code , as that section may be amended or renumbered, of income includable except for this exemption in net income; provided that the individual's adjusted gross income shall not exceed:
A. seventy-five thousand dollars ($75,000) for married individuals filing separate returns;
B. one hundred fifty thousand dollars ($150,000) for heads of household, surviving spouses and married individuals filing joint returns; and
C. one hundred thousand dollars ($100,000) for single individuals.
A. seventy-five thousand dollars ($75,000) for married individuals filing separate returns;
B. one hundred fifty thousand dollars ($150,000) for heads of household, surviving spouses and married individuals filing joint returns; and
C. one hundred thousand dollars ($100,000) for single individuals.
Status: in_force
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