Tax Foundation’s State Business Tax Climate Index

New Mexico ranks 28th friendliest among the 50 states in the Tax Foundations new index.
The good news is NM ranks #1 (friendliest) for individual and business wealth (meaning property) taxes.
The bad news is that NM ranks #48 for its gross receipts tax. It looks to me like the weight given to the gross receipts tax understates its adverse effect on NM’s business climate.

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