New Mexico § 7-2-5.14 Exemption; social security income

New Mexico Statutes

§ 7-2-5.14 — Exemption; social security income

New Mexico § 7-2-5.14

Ch. 7Taxation

Art. 2Income Tax General Provisions

This text of New Mexico § 7-2-5.14 (Exemption; social security income) 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. § 7-2-5.14 (2026).

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.

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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.