LegalFix
Sign In

Section 7-1-51 - Proceeds of levy and sale.

NM Stat § 7-1-51 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

A. Money realized by levy or sale under provision of the Tax Administration Act shall be first applied against the expenses of the proceedings;

B. The amount, if any, remaining shall then be applied to the liability for tax in respect of which the levy was made; and

C. The balance, if any, remaining shall be returned to a person legally entitled thereto.

History: 1953 Comp., § 72-13-65, enacted by Laws 1965, ch. 248, § 53.

Am. Jur. 2d, A.L.R. and C.J.S. references. — 72 Am. Jur. 2d State and Local Taxation § 911.

85 C.J.S. Taxation §§ 1197 et seq.

Previous Section
Section 7-1-50 - Legal effect of deed to real property.
Next Section
Section 7-1-52 - Release of levy.