summary
Introduced
02/01/2021
02/01/2021
In Committee
Crossed Over
Passed
Dead
03/20/2021
03/20/2021
Introduced Session
2021 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; PROVIDING AN INCOME TAX EXEMPTION IN AN AMOUNT EQUAL TO THIRTY THOUSAND DOLLARS ($30,000) OF MILITARY RETIREMENT PAY.
AI Summary
This bill proposes to provide an income tax exemption of up to $30,000 on military retirement pay for armed forces retirees in the state of New Mexico. The exemption applies to taxable years beginning on or after January 1, 2021. An "armed forces retiree" is defined as a former member of the U.S. armed forces who has qualified by years of service or disability to separate from military service with lifetime benefits.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Senate Tax, Business and Transportation Committee (00:00 3/11/2021 Room zoom) (on 03/11/2021)
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=S&legtype=B&legno=277&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/senate/SB0277.pdf |
Loading...