Gov. Susana Martinez is pushing legislation that would let small business owners deduct their business income from personal income taxes. Martinez and state Rep. Sarah Maestas Barnes announced the proposal Saturday in Albuquerque. They say the targeted tax relief will help small businesses that are just getting off the ground.
Under the bill, small business owners with less than $200,000 in taxable income and less than $350,000 in total net business income would be eligible.
Martinez says the legislation would allow entrepreneurs to expand and hire more workers.
Maestas Barnes says mom and pop stores are what drive the state's economy.
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