IN AN EFFORT TO MAKE NEW MEXICO MORE COMPETITIVE WITH NEIGHBORING STATES, A STATE LEGISLATOR PROPOSES LIFTING THE GROSS RECEIPTS TAX ON PARTS AND LABOR FOR MAINTAINING AIRCRAFT. REPUBLICAN STATE REPRESENTATIVE JAMES WHITE OF ALBUQUERQUE SAYS AIRCRAFT OWNERS ARE USING REPAIR SHOPS IN OTHER STATES … LIKE COLORADO, TEXAS AND ARIZONA … FOR THEIR REPAIRS. THOSE STATES WAIVE THE TAX.
THE BILL PASSED IN THE HOUSE ON A 52-14 VOTE WEDNESDAY, AND IS ON ITS WAY TO THE SENATE.
THE TAXATION AND REVENUE DEPARTMENT SAYS THE TAX BREAK WOULD COST TAXPAYERS ABOUT A HALF-MILLION DOLLARS.
