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:

http://www.riograndefoundation.org/downloads/rgf_grt_carlsbad.pdf
http://www.riograndefoundation.org/downloads/rgf_grt_clovis.pdf
http://www.riograndefoundation.org/downloads/rgf_grt_farmington.pdf
http://www.riograndefoundation.org/downloads/rgf_grt_hobbs.pdf
http://www.riograndefoundation.org/downloads/rgf_grt_las_cruces.pdf
http://www.riograndefoundation.org/downloads/rgf_grt_rio_rancho.pdf
http://www.riograndefoundation.org/downloads/rgf_grt_roswell.pdf
http://www.riograndefoundation.org/downloads/rgf_grt_santa_fe.pdf

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.

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3 Replies to “New Mexico’s Harmful and Rising Gross Receipts Tax”

  1. We own a small electronics business and lose customers every day to the internet because of the electronic box houses that do not charge tax. We are punished for having a physical location in NM. It is hard enough to pay rent, insurance and salaries without being undercut by companies that do not spend one dime in our state. The profit margin when competing with an online merchant is so low that one cannot absorb the 7% and still make a profit. The system is twisted.

  2. Wow, Alb. is now 7%!! Wipeee! Don’t come to Chama and buy anything! We are now 8% and our Population is only about 1300 a vased difference from Alb.. Our Lodgers have to collect an additional 4% for Lodgers Tax! What ever happened to “NO NEW TAXES”, we continuly heard during the campaign?

  3. Santa Fe GRT is more than 8.1% now

    I am buying as much as I can online and tax-free, mostly from Amazon.com. I also get most of the shipping free, after a subscription to Amazon Prime at a cost-effective price. And, the prices are lower to begin with.

    I understand this hurts the local economy, but I simply don’t care anymore. I am not going to be bled dry by lazy state and county government.

    I am a retired software developer and I am certain many software companies would love to relocate here if the conditions were right. However, regressive taxes and poor schools ruin this scenario, and these problems can be laid at the feet of our elected officials.

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