A NEW PLAN IN THE WORKS TO OVERHAUL NEW MEXICO’S SALES TAX CODE. IT’S FROM REPUBLICAN STATE REP JASON HARPER, WHO TELLS THE ALBUQUERQUE JOURNAL HIS LEGISLATION IS DESIGNED TO WIN BIPARTISAN SUPPORT AT THE ROUND HOUSE.
HE SAYS HIS OVERHAUL OF THE TAX RATE WOULD LOWER STATE AND LOCAL TAXES, BUT HE COULDN’T SAY BY HOW MUCH … AND ADDRESS PYRAMIDING, THE TAXING OF BUSINESS-TO-BUSINESS TRANSACTIONS LIKE HIRING AN ACCOUNTING FIRM.
DEMOCRATIC SENATOR JOHN ARTHUR SMITH IS IMPRESSED WITH THE EFFORT, BUT ALSO SAYS IF THE BILL PASSES, WE STILL MAY NOT SEE TAXES DROP MUCH.
