New Mexico § 45-3-926 - Apportionment and recapture of special elective benefits
Full text of New Mexico New Mexico Statutes Annotated § 45-3-926 — Apportionment and recapture of special elective benefits, with citation guidance and answers to common questions.
§ 45-3-926. Apportionment and recapture of special elective benefits
A. In this section: (1) “ special elective benefit ” means a reduction in an estate tax obtained by an election for: (a) a reduced valuation of specified property that is included in the gross estate; (b) a deduction from the gross estate, other than a marital or charitable deduction,
allowed for specified property; or (c) an exclusion from the gross estate of specified property; and (2) “ specified property ” means property for which an election has been made for a special elective benefit. B. If an election is made for one or more special elective benefits, an initial apportionment
of a hypothetical estate tax must be computed as if no election for any of those benefits
had been made. The aggregate reduction in estate tax resulting from all elections made must be
allocated among holders of interests in the specified property in the proportion that
the amount of deduction, reduced valuation or exclusion attributable to each holder's
interest bears to the aggregate amount of deductions, reduced valuations and exclusions
obtained by the decedent's estate from the elections. If the estate tax initially apportioned to the holder of an interest in specified
property is reduced to zero, any excess amount of reduction reduces ratably the estate
tax apportioned to other persons that receive interests in the apportionable estate. C. An additional estate tax imposed to recapture all or part of a special elective
benefit must be charged to the persons that are liable for the additional tax under
the law providing for the recapture.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 45-3-926
What does New Mexico Statutes Annotated § 45-3-926 cover?
Section 45-3-926 ("Apportionment and recapture of special elective benefits") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 45-3-926?
A common citation format is "New Mexico Statutes Annotated § 45-3-926" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 45-3-926 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.