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Residents of New Mexico -- who have already gotten several tax breaks this year -- will soon get another round of tax rebates as the state prepares to send payments totaling either $250 or $500 to...
Corporations that generate income from activities or sources in New Mexico and that are required to file federal income tax returns as corporations must pay corporate income tax to the state. [14] Corporate income is taxed at the rate of 4.8% for the first $500,000, 6.4% for the next $500,000 (up to total income of $1 million), and 7.6% for ...
Jan. 15—New Mexico was among the top six states in a national scorecard on state tax appeals and procedural requirements assembled by the Council on State Taxation. New Mexico was awarded an A ...
Dec. 11—Some 16,700 tax rebate checks from 2022 totaling $6 million were returned to the New Mexico Tax and Revenue Department as undeliverable. The checks were part of the three rounds of ...
Simmons-Harris in 2002, the Supreme Court of the United States declared that school vouchers could be used to pay for education in sectarian schools without violating the Establishment Clause of the First Amendment. As a result, states are free to enact voucher programs that provide funding for any school of the parent's choosing. [11]
New Mexico Taxation and Revenue Department; Department overview; Type: Taxation & Revenue Services: Jurisdiction: State of New Mexico: Headquarters: 1100 South St. Francis Drive Santa Fe, New Mexico 87504-1028: Employees: 803: Annual budget: US$ 90,078,526.00 [1] Department executive
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It is illegal for anyone to charge sales tax, surcharges or card processing fees from an EBT SNAP account, according to federal law and USDA SNAP Guidelines. New state and federal law grants new provisions to law enforcement and state agencies to investigate the criminal use, including taxation on EBT purchases, of state and federal benefits. [10]