UNIFORMED SVC. RETIREMENT PAY TAX EXEMPTION

Summary

The bill changes New Mexico law so that any amount of a uniformed‑service retiree’s pension is exempt from state income tax, instead of being limited to $30,000. It covers retirees and surviving spouses from the armed forces, National Guard, Coast Guard, merchant marine, Public Health Service, and NOAA commissioned corps. The exemption becomes effective for tax years beginning on or after January 1, 2027.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share