Bill > HB200

This bill modifies the High-Wage Jobs Tax Credit program in New Mexico. The key provisions include: - Changing the amount of the tax credit from 10% of wages up to $12,000 per job to the amount of wages up to $150,000 multiplied by the current highest personal income tax rate percentage. - Extending the eligibility period for the tax credit from 3 consecutive qualifying periods to 7 consecutive qualifying periods. - Changing the wage thresholds for qualifying jobs, with higher thresholds for jobs in municipalities with a population of 60,000 or more. - Removing the requirement that eligible employers must have sold more than 50% of their goods or services outside of New Mexico. - Applying the provisions of the bill to qualifying periods beginning on or after January 1, 2018. The goal of these changes is to provide a more substantial incentive for businesses to create and fill high-wage jobs in New Mexico, with a focus on jobs in more populated areas of the state.

Budget and Finance, Labor and Employment, Transportation and Infrastructure

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=200&year=18