summary
Introduced
01/20/2016
01/20/2016
In Committee
01/20/2016
01/20/2016
Crossed Over
Passed
Dead
02/18/2016
02/18/2016
Introduced Session
2016 Regular Session
Bill Summary
Repeal Capital Gains Deduction
AI Summary
This bill repeals a provision in New Mexico law that allows for a deduction on capital gains, which are profits made from selling an asset like stocks or real estate. Specifically, Section 7-2-34 of the New Mexico Statutes Annotated (NMSA) 1978, which established this capital gains deduction, will be eliminated effective January 1, 2017. The bill clarifies that this change will apply to tax years starting on or after January 1, 2017.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
[LD 2] Action postponed indefinitely (on 01/20/2016)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=220&year=16 |
| BillText | http://www.nmlegis.gov/Sessions/16%20Regular/bills/house/HB0220.pdf |
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