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.
Officials in the Martinez administration say they are considering cutting taxes on small business gross receipts and corporate income as a means of creating jobs in the state.
Thanks to past mismanagement of the town’s budget, Bernalillo will have to make do without a police chief, fire chief, Town treasurer, Town manager, or geographic information technician for the time being. The town’s new mayor says his predecessor failed to budget for a $1.64 million loan payment for public works.
New Mexico is hurting financially, no doubt. Unemployment is at a 22-year high. Tax revenues that pay for services are way down. But apparently things could be worse.
Thanks to a monthly tracking report provided by the Legislative…
A revenue package that is a cornerstone of a proposed 2011 New Mexico state budget passed the House Wednesday night by a vote of 38-28; it now goes to the governor’s desk. The measure raises about $240 million in taxes through various measures. But it also may create extra pain for some local governments.
Late Tuesday the Senate passed a bill that would generate $240 million by increasing the state’s gross receipts tax by a 1/8 of a penny, closing a state income tax deduction used by people who itemize and requiring the state’s compensating tax to be paid on goods purchased from out-of-state sellers without a physical presence in New Mexico.
The Senate Finance committee approved a bill Tuesday that combines most of the tax measures state lawmakers have contemplated during this week’s special session — and some that they haven’t.
Lawmakers voted along party lines to pass the measure that…
The state budget deal legislative leaders reach may generate $233 million in new revenue, in part by taking back $70-$100 million it has been sending each year to New Mexico cities to help compensate for the lack of a food tax. In return, cities would get the authority to tax food up to 2 percent. Also in the works: education cuts, a gross receipts tax hike and two versions of a cigarette tax hike.
Legislative leaders have struck a budget deal, and just in time. Details are few, but Gov. Bill Richardson saw it Friday and pronounced it good. Here are the general outlines of the deal. The recently struck deal involves raising $233 million in revenue. That revenue would come from increasing the state’s gross receipts, cigarette and compensating taxes. Certain foods also would be taxed for the first time in years, although it’s unclear what food items would fall under the state’s gross receipts tax. The proposed budget agreement also relies on spending decreases. State agencies are expected to shave spending. Public education, meanwhile, would be reduced by about 1 percent.
Gov. Bill Richardson picked sides Monday, saying he preferred the House state budget to the one passed by the Senate Saturday.
“New Mexico taxpayers expect serious solutions to the budget impasse, rather than taxing tortillas as the Senate proposes,” Richardson…
House Speaker Ben Lujan’s bill to implement a temporary half-cent hike in the state’s gross receipts tax would presumably not have passed earlier today if two Republican members hadn’t missed the vote.
A long-simmering bill that would require multi-state corporations to pay income tax on their earnings in NM lived another day as the House Business and Industry committee came to a close Thursday night. Rather than being tabled, as several other…
The task force created by Governor Bill Richardson to study options for raising revenue has now convened four times. There are some interesting reports added to the group’s Web site, covering various options for raising revenue, giving definitions, histories,…
New Mexico relies most heavily on the state gross receipts tax for its revenue — to the tune of 36.1 percent, according to a new report. By comparison, the state income tax comes in third as a revenue generator,…
