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Personal income tax rates for New Mexico range from 1.7% to 4.9%, within four income brackets. [9] The individual income tax rates are listed in the table below. [10] Rate. Income. Heads of household, widow (er)s, and married persons filing jointly. 1.7%. $8,000 or less. $136 plus 3.2% of excess over $8,000.
t. e. The United States federal state and local tax (SALT) deduction is an itemized deduction that allows taxpayers to deduct certain taxes paid to state and local governments from their adjusted gross income. The SALT deduction intent is to avoid double taxation by allowing taxpayers to deduct state and local taxes from their federal income.
Rep. Teresa Leger Fernandez, D-New Mexico, said the bill, which would have only impacted the SALT deduction cap for the 2023 tax year, was an election year stunt, designed to bolster the re ...
Oil and gas production, tourism, and federal government spending are important drivers of New Mexico 's economy. The state government has an elaborate system of tax credits and technical assistance to promote job growth and business investment, especially in new technologies. In 2017 New Mexico's gross domestic product was $94.2 billion.
A bill called the SALT Marriage Penalty Elimination Act, which would have raised the tax cap for some married filers and ease some of the burden in high-tax states like New York, was on the table ...
Blue area shows area once flooded by the Delaware Sea. The Delaware Basin is a geologic depositional and structural basin in West Texas and southern New Mexico, famous for holding large oil fields and for a fossilized reef exposed at the surface. Guadalupe Mountains National Park and Carlsbad Caverns National Park protect part of the basin.
The location of the state of New Mexico. Paleontology in New Mexico refers to paleontological research occurring within or conducted by people from the U.S. state of New Mexico. The fossil record of New Mexico is exceptionally complete and spans almost the entire stratigraphic column. [1] More than 3,300 different kinds of fossil organisms have ...
The New Mexico Environment Department (NMED) is a state government agency responsible for "protecting and restoring the environment of the state of New Mexico to foster a healthy and prosperous New Mexico for present and future generations," according to its mission statement. [1] This organization believes that New Mexicans must have fair ...