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New Mexico Veteran Employment Tax Credit (Repealed in 2023)

The $1,000 employer credit for hiring a recently returned veteran was repealed with effect from July 1, 2023. The Department of Veterans' Services and the Army benefits library still advertise it.

Also called: NMSA 7-2-18.28, NMSA 7-2A-27, veteran employment tax credit, $1,000, recently returned veteran, Senate Bill 147, Laws 2023, ch. 85.

For: Veteran or service member.

Where it applies

Written for the jurisdictions listed here.

Both published descriptions of this credit are out of date. What it was. The veteran employment tax credit, enacted by Laws 2012, chapter 55 as sections 7-2-18.28 (personal income tax) and 7-2A-27 (corporate income tax), let an employer claim a credit of up to $1,000 for hiring a recently discharged veteran. What happened. Senate Bill 147 of 2023, Laws 2023, chapter 85, signed March 30, 2023, repealed both sections in its section 28 along with a list of other credits, effective July 1, 2023. The Compilation Commission now prints both as "Repealed". Who still advertises it. The Department of Veterans' Services' state benefits page lists a "Business Tax Credit for Hiring Recently Returned Veterans" worth "up to a $1,000 business tax credit for each hire", and the Army benefits library's New Mexico page says the same, both pointing employers to the Taxation and Revenue Department; both pages were read again on October 24, 2026 and still say so. There is nothing to claim for a hire after the repeal took effect. What exists instead. Employers can still claim the federal Work Opportunity Tax Credit for hiring qualified veterans. New Mexico's own incentive for veterans in business is the procurement preference (see that entry).

Thresholds

No rating or income gate is recorded. Read the detail and the official source.

Sources

Legislation

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Laws 2023, ch. 85 (SB 147) Repealed the veteran employment tax credit

Needs reviewEnactedProgram repealed

Signed Takes effect

  1. Introduced Done, , step 1 of 6
  2. In committee Done, , step 2 of 6
  3. Passed one chamber Done, , step 3 of 6
  4. Passed both chambers Done, , step 4 of 6
  5. Signed by the governor Done, , step 5 of 6
  6. In effect Done, , step 6 of 6

Restricts benefits Repealed the income tax credits of up to $1,000 for an employer that hires a recently discharged veteran.

Section 28 of the act repealed NMSA 1978, §§ 7-2-18.28 and 7-2A-27, the personal and corporate income tax credits of up to $1,000 for hiring a recently discharged veteran, effective July 1, 2023. Signed March 30, 2023. Flagged because the Department of Veterans' Services' benefits page and the Army benefits library still advertise the credit.

Sponsors

  • Benny Shendo, Jr.Democratic, Senate, District 22
  • Jason C. HarperRepublican, House, District 57

Touches NMSA 1978, § 7-2-18.28 · NMSA 1978, § 7-2A-27

Official record

Updated

Last updated .

What changed then:

  • Citation updated to “NMDVS, state benefits (still lists the credit; read 2026-10-24)” (was “NMDVS, state benefits”).
  • Citation updated to “Army benefits library, New Mexico (still lists the credit; read in a visible Chrome window on 2026-10-24)” (was “Army benefits library, New Mexico”).
  • Description reworded (1 passage).

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Disclaimer

VetTOC is not affiliated with the U.S. Department of Veterans Affairs or the Department of Defense. Information is for reference only and is not an eligibility determination. Verify with VA, the relevant state or territory, or an accredited VSO.