Mickelson to pay 61 percent of recent winnings to taxes: does it have meaning for New Mexico?

Check this story out from USA Today. While the competitive nature of sports and the large purses at stake make it unlikely that golfers will not give 100% in their professional efforts, athletes are not quite the same as businesses which may or may not decide to invest in certain areas based on heavy tax burdens.

New Mexico’s corporate taxes will go down from 7.2 to 5.9% in five years and our income tax rate has fallen from 8.2 to 4.9 in recent years, but the rates on both are still zero in Texas. This is one reason why Phil should probably re-consider his California residency and why many businesses have already done so.

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