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State Tax Incentives for New Mexico

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State Deduction or Credit Description

New Mexico

Credit

Beginning in 2005, New Mexico provides a tax credit up to $ 2,800 and a tax exemption up to $3,000 for individuals over the age of sixty-five (65) who have unreimbursed or non-compensated medical expenses, including qualified long-term care insurance premiums, in excess of $28,000 during any given taxable year

 

 

 

 

 

 

 

 

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Senior Care Concepts, 2008