Sections 7-7-1 through 7-7-12 NMSA 1978 may be cited as the "Estate Tax Act".
History: 1953 Comp., § 72-33-1, enacted by Laws 1973, ch. 345, § 1; 1989, ch. 122, § 1.
Cross references. — For provisions applicable to administration and enforcement, see 7-1-2 and 7-7-10 NMSA 1978.
The 1989 amendment, effective June 16, 1989, substituted "Sections 7-7-1 through 7-7-12 NMSA 1978" for "Sections 1 through 12 of this act".
Construction of tax statutes. — Statutes imposing taxes and providing means for the collection of the same should be construed strictly insofar as they may operate to deprive the citizen of his property by summary proceedings or to impose penalties or forfeitures upon him; but otherwise tax laws ought to be construed with fairness, if not liberality, in order to carry out the intention of the legislature and further the important public interests which such statutes subserve. NBS Corp. v. Valdez, 1965-NMSC-027, 75 N.M. 379, 405 P.2d 224.
Law reviews. — For symposium, "Tax Implications of the Equal Rights Amendment," see 3 N.M.L. Rev. 69 (1973).
Am. Jur. 2d, A.L.R. and C.J.S. references. — Construction and application of "pay-all-taxes" provision in will, as including liability of nontestamentary property for inheritance and estate taxes, 56 A.L.R.5th 133.
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