Section 7-2-3 - Imposition and levy of tax.
7-2-3. Imposition and levy of tax.
A tax is imposed at the rates specified in the Income Tax Act [7-2-1 NMSA 1978] upon the net income of every resident individual and upon the net income of every nonresident individual employed or engaged in the transaction of business in, into or from this state, or deriving any income from any property or employment within this state.