New Mexico

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General Information

  • New Mexico is a community property state.
  • The NM Taxation & Revenue Dept. is enforcing the penalty for underpayment of estimated tax. The law has existed for 10 years, but 2006 is the first tax year the department says it has the software to do the job. More than 20,000 assessment notices went out the end of August 2007. There are preliminary indications that the calculations may be faulty.

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