Income deferred pursuant to the Deferred Compensation Act and any gains arising from such income, shall be subject to New Mexico income tax and other applicable taxes in the same year or years in which the income is subject to federal income tax pursuant to federal law.
§ 10-7A-7 NMSA 1978
Deferred compensation plan; state tax deferral
Known as the Deferred Compensation Act
The act spans §§ 10–10 (12 sections).
Laws 1981, ch. 155, § 7.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.