{"data":{"id":"us-nm/7-2-5.2","jurisdiction":"us-nm","citation":"7-2-5.2","heading":"Exemption; income of persons sixty-five and older or blind.","body":"Any individual sixty-five years of age or older or who, for federal income tax purposes, is blind may claim an exemption in an amount specified in Subsections A through C of this section not to exceed eight thousand dollars ($8,000) of income includable except for this exemption in net income. Individuals having income both within and without this state shall apportion this exemption in accordance with regulations of the secretary:\nA. for married individuals filing separate returns, for any taxable year beginning on or after January 1, 1987:\nIf adjusted gross income is:\tThe maximum amount of exemption allowable under this section shall be:\nNot over $15,000\t$8,000\nOver $15,000 but not over $16,500\t$7,000\nOver $16,500 but not over $18,000\t$6,000\nOver $18,000 but not over $19,500\t$5,000\nOver $19,500 but not over $21,000\t$4,000\nOver $21,000 but not over $22,500\t$3,000\nOver $22,500 but not over $24,000\t$2,000\nOver $24,000 but not over $25,500\t$1,000\nOver $25,500\t0.\nB. for heads of household, surviving spouses and married individuals filing joint returns, for any taxable year beginning on or after January 1, 1987:\nIf adjusted gross income is:\tThe maximum amount of exemption allowable under this section shall be:\nNot over $30,000\t$8,000\nOver $30,000 but not over $33,000\t$7,000\nOver $33,000 but not over $36,000\t$6,000\nOver $36,000 but not over $39,000\t$5,000\nOver $39,000 but not over $42,000\t$4,000\nOver $42,000 but not over $45,000\t$3,000\nOver $45,000 but not over $48,000\t$2,000\nOver $48,000 but not over $51,000\t$1,000\nOver $51,000\t0.\nC. for single individuals, for any taxable year beginning on or after January 1, 1987:\nIf adjusted gross income is:\tThe maximum amount of exemption allowable under this section shall be:\nNot over $18,000\t$8,000\nOver $18,000 but not over $19,500\t$7,000\nOver $19,500 but not over $21,000\t$6,000\nOver $21,000 but not over $22,500\t$5,000\nOver $22,500 but not over $24,000\t$4,000\nOver $24,000 but not over $25,500\t$3,000\nOver $25,500 but not over $27,000\t$2,000\nOver $27,000 but not over $28,500\t$1,000\nOver $28,500\t0.","path":["Chapter 7 - Taxation","ARTICLE 2 Income Tax General Provisions"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18507/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"945762fa24279462f5e9d67cc5d566385018fc9582cbb160c79f1298a3269e5a","source_id":"us-nm","stale":false,"prev":"us-nm/7-2-5.1","next":"us-nm/7-2-5.3"},"notice":"GroundRules: Original legal text. Not legal advice."}