summary
Introduced
01/19/2021
01/19/2021
In Committee
02/04/2021
02/04/2021
Crossed Over
Passed
Dead
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; EXEMPTING SOCIAL SECURITY INCOME FROM INCOME TAX.
AI Summary
This bill exempts social security income from state income tax in New Mexico. Specifically, it allows individuals to claim an exemption from their state income tax in an amount not exceeding the portion of their adjusted gross income that comes from social security benefits. The bill applies to tax years beginning on or after January 1, 2021, and individuals who claim this exemption cannot also claim the general exemption for social security income.
Committee Categories
Budget and Finance, Military Affairs and Security
Sponsors (16)
Phelps Anderson (I)*,
Gail Armstrong (R)*,
Cathrynn Brown (R)*,
Rachel Black (R),
Jack Chatfield (R),
Randal Crowder (R),
Crystal Diamond Brantley (R),
Rebecca Dow (R),
Candy Ezzell (R),
T. Lane (R),
Stefani Lord (R),
Randy Pettigrew (R),
Bill Rehm (R),
Larry Scott (R),
James Strickler (R),
Luis Terrazas (R),
Last Action
House Health and Human Services Committee (09:00 2/8/2021 Room Zoom) (on 02/08/2021)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=49&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/house/HB0049.pdf |
Loading...