Major Tax Reduction for Military Retirees to Attract Productive Retirees to NM, to Spur Economic Development, to Thank for Service

Santa Fe – The legislature’s Military and Veterans’ Affairs committee endorsed a proposed bill that would encourage more military retirees to retire in New Mexico if they receive a break on their state income taxes.  Military retirees or their surviving spouces would be free from paying state income tax on up to $50,000 under a bill that was endorsed by the Military and Veterans’ Affairs committee this week.

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