MAMalody Posted March 9, 2008 Report Share Posted March 9, 2008 I have a new client in NM and have run into something I have not see before. Apparently when you have income from municipla obligations you have a tax exclusion. I can't seem to find any info on this. E-mail NM three days ago and still no response. Any NM expertise out there. If this is not clear, e-mail me at [email protected] or let me know and I can call you. Quote Link to comment Share on other sites More sharing options...
JRS Posted March 9, 2008 Report Share Posted March 9, 2008 The only exclusion I am aware of is the deduction for New Mexico tax exempt interest on line 5 of the "PIT-ADJ" It works as an exemption in that it reduces the federal AGI for NM taxes. Quote Link to comment Share on other sites More sharing options...
MAMalody Posted March 11, 2008 Author Report Share Posted March 11, 2008 The only exclusion I am aware of is the deduction for New Mexico tax exempt interest on line 5 of the "PIT-ADJ" It works as an exemption in that it reduces the federal AGI for NM taxes. Thanks. I think that is it. Mike Quote Link to comment Share on other sites More sharing options...
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