§ 7-3-1 Short title
§ 7-3-2 Definitions
§ 7-3-3 Tax withheld at source
§ 7-3-4 Deductions considered taxes
§ 7-3-5 Withholder liable for amounts deducted and withheld;
§ 7-3-6 Date payment due
§ 7-3-7 Statements of withholding
§ 7-3-8 Annual statement of withholding and information regarding state assistance for low-income New Mexicans to be provided to withholdees
§ 7-3-9 Withheld amounts credited against tax
§ 7-3-10 Voluntary submission to act
§ 7-3-11 Acts to be performed by agents; liability of third parties
§ 7-3-13 Withholding information return required; penalty
§ 7-3-14 Composite returns
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Terms Used In New Mexico Statutes > Chapter 7 > Article 3 - Income Tax Withholding

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Devise: To gift property by will.
  • Fiduciary: A trustee, executor, or administrator.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.