New Mexico § 7-7-17 Payment of estate tax in works of art

New Mexico Statutes

§ 7-7-17 — Payment of estate tax in works of art

New Mexico § 7-7-17

Ch. 7Taxation

Art. 7Estate Tax

This text of New Mexico § 7-7-17 (Payment of estate tax in works of art) 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. § 7-7-17 (2026).

Text

A decedent's estate may pay all or part of any tax owed by the decedent's estate to the state by payment in the form of one or more works of art in the manner provided by the Art Acceptance Act [7-7-15 to 7-7-20 NMSA 1978], provided: A. the decedent has so directed by a will; or B. in the absence of a direction in the decedent's will, the personal representative finds that this method of payment is advantageous to the estate.

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A decedent's estate may pay all or part of any tax owed by the decedent's estate to the state by payment in the form of one or more works of art in the manner provided by the Art Acceptance Act [7-7-15 to 7-7-20 NMSA 1978], provided: A. the decedent has so directed by a will; or B. in the absence of a direction in the decedent's will, the personal representative finds that this method of payment is advantageous to the estate.