Elida approves gross receipts tax

By Clarence Plank: PNT staff writer Elida residents approved a gross receipts tax 39-11 Tuesday with about half of registered voters casting ballots in municipal elections. Some 56 of 113 registered voters turned out to vote for mayor, village council and municipal judge. Only the village council and municipal judge seats were contested. “The people […]

Elida voters to decide on gross receipts tax

Freedom New Mexico Elida voters on Tuesday will decide whether to implement an additional gross receipts tax for economic development and municipal infrastructure. The municipal election ballot contains a question about whether to implement the tax of one-sixteenth of 1 percent, or a penny on every $16. If passed, the tax would go into effect […]

Tax hike only temporary solution

By Keith Gardner: Guest columnist The day many of us warned of is now here. New Mexico’s budget deficit has risen to somewhere around the $650 million mark. This problem was not just caused by the shrinking economy and the declining state revenue that followed — it was also caused by state government overspending. Between […]

Program offers free tax help

PNT staff reports Again this year, AARP, the Internal Revenue Service and the Eastern New Mexico University College of Business are sponsoring Tax-Aide in Portales, according to Portales Site Coordinator Mercedes Agogino. The program provides free tax returns and electronic filing to low- and middle-income people. It is available 1-4 p.m. Mondays and Wednesdays Feb. […]

1-28 Legislative tidbits

Days remaining in session: 21 Restaurant tax would fund promos A measure (HB 189) carried by Rep. Jim Trujillo, D-Santa Fe, would generate between $6 and $6.5 million for the state’s Department of Tourism advertising budget. The 1/4 of one percent tax would be imposed “on the gross receipts of a prepared food or alcoholic […]

Dems back tax increase for wealthy

By Steve Terrell: The New Mexican Despite the fact that Gov. Bill Richardson and conservative Democrats who control the state Senate are opposed increasing taxes, a band of lawmakers Thursday are proposing various tax hikes. And one senator in the newly formed group called the Working Families Caucus, told reporters there are 22 votes in […]

Fixes proposed for contentious property tax law

By Phaedra Haywood: Santa Fe New Mexican What to do about “tax lightning” will be debated during the state Legislature’s upcoming session. Lawmakers, who convene Tuesday for a 30-day session, will consider various ways to fix a New Mexico property tax law that can cause a dramatic increase in a home’s taxable value when it […]

Budget cuts, tax hikes on horizon

By Steve Terrell and Kate Nash: The New Mexican There’s a mountain of need in New Mexico. The problem is, there’s only a molehill of money to meet those needs. The state faces a projected budget deficit of $600 million or more next year. This is what the Legislature is up against when New Mexico’s […]

Bank fees will trickle down to consumers

Freedom New Mexico President Barack Obama is said to be considering a special tax (or fee or levy, as some might prefer to disguise it) on financial institutions, though the calculated leaks from the White House suggest the details are still up for grabs. Before he gets much farther it would be a good idea […]

Grocers oppose reinstating food tax

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By Chris Schmaedeke: Freedom New Mexico Local grocers don’t believe reinstating a food tax is the solution to solving a shortfall in state revenue. The statewide food tax was abolished six years ago by New Mexico Legislature with Gov. Bill Richardson’s support. But a 42-member task force appointed by Richardson in November appears to be […]