summary
Introduced
01/22/2017
01/22/2017
In Committee
Crossed Over
Passed
Dead
03/18/2017
03/18/2017
Introduced Session
2017 Regular Session
Bill Summary
AN ACT RELATING TO TAXATION; MODIFYING THE PERSONAL INCOME TAX BRACKETS AND RATES.
AI Summary
This bill amends the personal income tax brackets and rates in New Mexico. It modifies the income tax rates for married individuals filing separate returns, heads of household, surviving spouses, married individuals filing joint returns, and single individuals, as well as estates and trusts. The bill changes the income thresholds for the different tax brackets and adjusts the corresponding tax rates. Additionally, it updates the tax on lump-sum amounts included in net income. The changes are effective for taxable years beginning on or after January 1, 2018.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
House Labor and Economic Development Committee (13:30 3/6/2017 Room 315) (on 03/06/2017)
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=503&year=17 |
| BillText | http://www.nmlegis.gov/Sessions/17%20Regular/bills/house/HB0503.pdf |
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