NEW MEXICO HAS A MAJOR CORPORATE TAX LOOPHOLE, AND SOMETHING NEEDS TO BE DONE ABOUT IT. THAT FROM DEMOCRATIC SENATOR PETER WIRTH OF SANTA FE, WHO TELLS 770 KKOB THE LOOPHOLE ALLOWS OUT-OF-STATE CORPORATIONS TO SET UP SUBSIDIARIES IN STATES WITH NO CORPORATE TAX…AND ESCAPE THE TAX HERE IN NEW MEXICO. WIRTH SAYS THERE'S NO REASON THAT A NEW MEXICO BANK SHOULD HAVE TO PAY A CORPORATE TAX…BUT THE MULTI-STATE BANK ACROSS THE STREET DOESN'T.
WIRTH SAYS HE'S BEEN TRYING TO DO SOMETHING ABOUT THE LOOP HOLE FOR 10 YEARS…AND HE'LL TAKE ANOTHER STAB AT IT WHEN LAWMAKERS RECONVENE IN SANTA FE IN JANUARY.
