summary
Introduced
01/31/2021
01/31/2021
In Committee
Crossed Over
Passed
Dead
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; EXEMPTING A CERTAIN AMOUNT OF SOCIAL SECURITY INCOME FROM INCOME TAX.
AI Summary
This bill would exempt up to $30,000 of an individual's Social Security income from state income tax in New Mexico. Individuals who claim this Social Security income exemption would not be able to also claim the state's standard $3,000 income tax exemption. The provisions of the bill would apply to tax years beginning on or after January 1, 2021.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Sent to STBTC - Referrals: STBTC/SFC (on 01/31/2021)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=162&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/senate/SB0162.pdf |
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