N.M. Stat. § 7-2-7.4
This is the official text of N.M. Stat. § 7-2-7.4, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 7-2-7.4. 2020 Income tax rebate
Official statutory text
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.
(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.
Status: in_force
Need a lawyer in New Mexico?
Find a New Mexico lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.