summary
Introduced
01/27/2017
01/27/2017
In Committee
01/27/2017
01/27/2017
Crossed Over
Passed
Dead
03/18/2017
03/18/2017
Introduced Session
2017 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; KEEPING THE TOP RATE OF THE TAX IMPOSED BY THE CORPORATE INCOME AND FRANCHISE TAX ACT AT SIX AND TWO-TENTHS PERCENT PERMANENTLY.
AI Summary
This bill permanently sets the top corporate income tax rate in New Mexico at 6.2% for taxable years beginning on or after January 1, 2017. Previously, the top rate was set to decrease to 5.9% for taxable years beginning on or after January 1, 2018, but this bill removes that scheduled decrease, keeping the top rate at 6.2% permanently. The bill applies to taxable years beginning on or after January 1, 2018.
Committee Categories
Transportation and Infrastructure
Sponsors (3)
Last Action
[LD 11] Referred to Senate Corporations & Transportation (on 01/27/2017)
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=S&legtype=B&legno=389&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/senate/SB0389.pdf |
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