Albuquerque National Bank v. Commissioner of Revenue

OPINION

WOOD, Judge.

N. M. Laws 1968 (S.S.), ch. 2, authorized a county income surtax on “individual” residents. It is hereinafter referred to as the surtax statute. The issue is whether “individual” includes a trustee under a trust indenture.

The authority under Section 1 of the surtax statute is:

“* * * to impose a county income surtax up to a maximum of fifty percent of the income tax imposed by the Income Tax Act upon all individual residents in the county, provided that the county income surtax shall not apply to corporations.”

In 1968, pursuant to this authorization, a surtax of 43% of…