New Mexico Tax Department Publishes 2026 Legislative Summary

The New Mexico Taxation and Revenue Department published a legislative summary providing an overview of laws passed during the 2026 regular legislative session that affect taxpayers and the department’s operations. The summary details numerous tax law changes with various effective dates, including updates to oil and gas conservation tax changes effective July 1, 2027, corporate income tax modifications including federal decoupling provisions effective for taxable years beginning Jan. 1, 2027, new tax credits for local journalists and physicians, and motor vehicle fee increases and new electric vehicle fees effective Jan. 1, 2027. [N.M. Tax’n & Revenue Dep’t, Legislative Summary: 2026, ...