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; ALLOWING EMPLOYERS WITH FIFTY OR FEWER EMPLOYEES TO ELECT TO NOT WITHHOLD THOSE EMPLOYEES' WAGES FOR PAYMENT OF INCOME TAX.
AI Summary
This bill allows employers with 50 or fewer employees to elect not to withhold their employees' wages for payment of income tax. Employers that make this election must notify the Department of Taxation and provide a copy of the notification to each employee. The bill applies to taxable years beginning on or after January 1, 2022.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Senate Tax, Business and Transportation Committee (13:30 2/18/2021 Room) (on 02/18/2021)
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=161&year=21 |
| BillText | https://www.nmlegis.gov/Sessions/21%20Regular/bills/senate/SB0161.pdf |
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