10-YEAR EXEMPT HEALTH PRACTITIONERS FROM TAX

SB 298 exempts specific licensed health care practitioners in New Mexico from state income tax on income earned from providing health care services within the state. The bill applies to 9 professions, including chiropractors, dentists, optometrists, physicians, and physical therapists, who must practice full-time in New Mexico. The exemption covers taxable years ending before January 1, 2035 (effectively 2025-2034). It does not create new taxes but removes an existing tax liability for qualifying professionals.