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August 21, 2018
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Bill would lower corporate tax rate but collect more corporate taxes (Listen again)
(2011-02-17)
As heard on At Noon
(KSFR) -
A proposal being discussed in a committee of the state senate would lower the top tax rate corporations pay. Sen. Peter Wirth of Santa Fe is offering the idea as a way of generating support for a broader bill that would require all companies doing business in the state to pay taxes.

Out-of-state corporations presently have the option to opt out of paying New Mexico taxes.

He says New Mexico is one of only two states in the West that has a loophole, allowing out-of-state companies to avoid paying taxes on the income they generate in New Mexico. He says he hopes other lawmakers will support the measure that would require all in- and out-of-state companies to pay the same, but smaller, tax rate.

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