summary
Introduced
01/18/2017
01/18/2017
In Committee
01/18/2017
01/18/2017
Crossed Over
Passed
Dead
03/18/2017
03/18/2017
Introduced Session
2017 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; ALLOWING DEDUCTIONS OF STATE AND LOCAL INCOME AND SALES TAXES FOR STATE PERSONAL INCOME TAX PURPOSES.
AI Summary
This bill allows for the deduction of state and local income and sales taxes for state personal income tax purposes. It amends the definition of "net income" in the New Mexico Income Tax Act to remove the exclusion of state and local income and sales taxes from the list of itemized deductions allowed to be deducted. The provisions of this bill apply to taxable years beginning on or after January 1, 2017.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
[LD 2] Referred to House Consumer & Public Affairs (on 01/18/2017)
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/Legislation/Legislation?chamber=H&legtype=B&legno=169&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/house/HB0169.pdf |
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