New Mexico Taxation and Revenue Department releases 2024 Tax Expenditure Report
krqe.com
New Mexico Taxation and Revenue Department releases 2024 Tax Expenditure Report
NEW MEXICO (KRQE) – The New Mexico Taxation and Revenue Department released the 2024 Tax Expenditure Report. According to the report, the gross receipts tax deductions for groceries and prescriptio…
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You heard that right — taxpayers saved nearly $1 BILLION in Fiscal Year 2025 from tax cuts enacted under the Lujan Grisham administration. That includes: • An average of $653 in yearly savings to 141,274 taxpayers under the Social Security exemption. • An average of $652 in yearly savings to 208,205 taxpayers under the Working Families Tax Credit. • An average of $540 in yearly savings to 257,526 taxpayers under the Child Income Tax Credit. • An average of $149 in yearly savings to 314,848 taxpa
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