I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
A measure that would capture state taxes from people not currently paying them cleared the Senate Finance Committee on Saturday.
The legislation, sponsored by House Speaker Ben Lujan, D-Santa Fe, would yield an estimated $15.6 million to help New Mexico close a state budget shortfall for next year estimated at hundreds of millions of dollars.
The tax bill is part of a proposed $5.276 billion state budget the Senate may vote on as early as today.
The legislation would require companies to collect withholding tax on people who live out of state and earn income in New Mexico but that the state currently can’t locate, according to a legislative analysis.
“This is not a new tax,” Lujan told Senate Finance Committee members.
The companies in question — called ‘pass through entities’ — would make quarterly withholding tax payments on net income distributed to their non-resident owners, according to the legislative analysis.
Jim Nunns of the New Mexico Taxation and Revenue Department explained that a partnership with out-of-state owners is an example of such a ‘pass through entity.’
