New Mexico’s Harmful and Rising Gross Receipts Tax

Check this out from the Clovis News-Journal. As I discuss in the article, the GRT rose .125 statewide on July 1. Albuquerque’s rate is now 7%, a 20% increase since 1999. See this chart.

Charts for historical gross receipts tax rates in other New Mexico cities can be found below:

Santa Fe’s has risen the most dramatically (26% in 11 years while Roswell’s rate has “only” risen by 9% in the same time period.