New Mexico § 58-11-61 Taxation

New Mexico Statutes

§ 58-11-61 — Taxation

New Mexico § 58-11-61

Ch. 58Financial Institutions and Regulations

Art. 11Credit Unions

This text of New Mexico § 58-11-61 (Taxation) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 58-11-61 (2026).

Text

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.