New Mexico § 58-11-61 Taxation

New Mexico Statutes

§ 58-11-61 — Taxation

New Mexico·Ch. 58 Financial Institutions and Regulations·Art. 11 Credit Unions

A.A credit union organized under or subject to the Credit Union Act is exempt from taxation to the extent that a credit union chartered under federal law is exempt.

B.The shares of a credit union shall not be subject to stock transfer taxes, either when issued or when transferred from one member to another.

C.The participation by a credit union in any government program providing unemployment, social security, old age pension or other benefits shall not be deemed a waiver of the tax exemptions granted by this section.

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A. A credit union organized under or subject to the Credit Union Act is exempt from taxation to the extent that a credit union chartered under federal law is exempt. B. The shares of a credit union shall not be subject to stock transfer taxes, either when issued or when transferred from one member to another. C. The participation by a credit union in any government program providing unemployment, social security, old age pension or other benefits shall not be deemed a waiver of the tax exemptions granted by this section.

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