New Mexico § 7-1-36 Property exempt from levy

New Mexico Statutes

§ 7-1-36 — Property exempt from levy

New Mexico § 7-1-36

Ch. 7Taxation

Art. 1Administration

This text of New Mexico § 7-1-36 (Property exempt from levy) 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. § 7-1-36 (2026).

Text

A. There shall be exempt from levy the money or property of a delinquent taxpayer in a total amount or value not in excess of one thousand dollars ($1,000). B. In addition to the property exempt under Subsection A of this section, there shall also be exempt from levy on an employer of the taxpayer the greater of the following portions of the taxpayer's disposable earnings:

(1)seventy-five percent of the taxpayer's disposable earnings for any pay period; or (2) an amount each week equal to forty times the minimum wage rate pursuant to Subsection A of Section 50-4-22 NMSA 1978. The superintendent of regulation and licensing shall provide a table giving equivalent exemptions for pay periods of other than one week. C. As used in this section, "disposable earnings" means that part of a taxpaye

Free access — add to your briefcase to read the full text and ask questions with AI

A. There shall be exempt from levy the money or property of a delinquent taxpayer in a total amount or value not in excess of one thousand dollars ($1,000). B. In addition to the property exempt under Subsection A of this section, there shall also be exempt from levy on an employer of the taxpayer the greater of the following portions of the taxpayer's disposable earnings: (1) seventy-five percent of the taxpayer's disposable earnings for any pay period; or (2) an amount each week equal to forty times the minimum wage rate pursuant to Subsection A of Section 50-4-22 NMSA 1978. The superintendent of regulation and licensing shall provide a table giving equivalent exemptions for pay periods of other than one week. C. As used in this section, "disposable earnings" means that part of a taxpayer's wages or salary remaining after deducting the amounts that are required by law to be withheld.