Elida approves gross receipts tax

By Clarence Plank: PNT staff writer Elida residents approved a gross receipts tax 39-11 Tuesday with about half of registered voters casting ballots in municipal elections. Some 56 of 113 registered voters turned out to vote for mayor, village council and municipal judge. Only the village council and municipal judge seats were contested. “The people […]

Elida voters to decide on gross receipts tax

Freedom New Mexico Elida voters on Tuesday will decide whether to implement an additional gross receipts tax for economic development and municipal infrastructure. The municipal election ballot contains a question about whether to implement the tax of one-sixteenth of 1 percent, or a penny on every $16. If passed, the tax would go into effect […]

Tax hike only temporary solution

By Keith Gardner: Guest columnist The day many of us warned of is now here. New Mexico’s budget deficit has risen to somewhere around the $650 million mark. This problem was not just caused by the shrinking economy and the declining state revenue that followed — it was also caused by state government overspending. Between […]

Program offers free tax help

PNT staff reports Again this year, AARP, the Internal Revenue Service and the Eastern New Mexico University College of Business are sponsoring Tax-Aide in Portales, according to Portales Site Coordinator Mercedes Agogino. The program provides free tax returns and electronic filing to low- and middle-income people. It is available 1-4 p.m. Mondays and Wednesdays Feb. […]

1-28 Legislative tidbits

Days remaining in session: 21 Restaurant tax would fund promos A measure (HB 189) carried by Rep. Jim Trujillo, D-Santa Fe, would generate between $6 and $6.5 million for the state’s Department of Tourism advertising budget. The 1/4 of one percent tax would be imposed “on the gross receipts of a prepared food or alcoholic […]

Dems back tax increase for wealthy

By Steve Terrell: The New Mexican Despite the fact that Gov. Bill Richardson and conservative Democrats who control the state Senate are opposed increasing taxes, a band of lawmakers Thursday are proposing various tax hikes. And one senator in the newly formed group called the Working Families Caucus, told reporters there are 22 votes in […]

Fixes proposed for contentious property tax law

By Phaedra Haywood: Santa Fe New Mexican What to do about “tax lightning” will be debated during the state Legislature’s upcoming session. Lawmakers, who convene Tuesday for a 30-day session, will consider various ways to fix a New Mexico property tax law that can cause a dramatic increase in a home’s taxable value when it […]

Budget cuts, tax hikes on horizon

By Steve Terrell and Kate Nash: The New Mexican There’s a mountain of need in New Mexico. The problem is, there’s only a molehill of money to meet those needs. The state faces a projected budget deficit of $600 million or more next year. This is what the Legislature is up against when New Mexico’s […]

Bank fees will trickle down to consumers

Freedom New Mexico President Barack Obama is said to be considering a special tax (or fee or levy, as some might prefer to disguise it) on financial institutions, though the calculated leaks from the White House suggest the details are still up for grabs. Before he gets much farther it would be a good idea […]

Grocers oppose reinstating food tax

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By Chris Schmaedeke: Freedom New Mexico Local grocers don’t believe reinstating a food tax is the solution to solving a shortfall in state revenue. The statewide food tax was abolished six years ago by New Mexico Legislature with Gov. Bill Richardson’s support. But a 42-member task force appointed by Richardson in November appears to be […]

AARP seeks tax volunteers

Freedom New Mexico AARP is seeking volunteers statewide to help others with their income taxes. All volunteers are trained in basic tax law and tax forms as well as how to use computers and software. Volunteers use their knowledge, along with computers and software provided to prepare tax returns for others. Volunteers are asked to […]

Prospects dim for tax hikes to plug N.M. budget hole

The Associated Press SANTA FE, N.M. (AP) — Prospects for tax hikes during New Mexico’s special legislative session dimmed even further as a House panel rejected several tax bills. The House rules committee decided Monday that tax increases could not be considered because Gov. Bill Richardson did not put them on the agenda for the […]

Retailers expect big crowds for tax-free holiday

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By Liliana Castillo: Freedom New Mexico San Skinner and his family have gotten used to the routine of business in the 85 years since his grandfather opened the doors of Skinner’s Western Wear in Portales. The New Mexico tax-free holiday, which will be held statewide Friday through Sunday, has become one more routine. The tax-free […]

Annual tax holiday set for August

The state’s annual back-to-school tax holiday will take place Aug. 7-9, according to a release from Gov. Bill Richardson’s office. Nontaxable items include: • Clothing and footwear $100 or less; • School supplies, such as pens and paper, $15 or less that are typically used in a classroom setting • Computers $1,000 or less • […]

Some officials bit more frugal with tax dollars

Freedom New Mexico A story in Sunday’s newspaper detailed expense reports for six key government leaders in eastern New Mexico. The report covered 11 months and raised questions about how and why our appointed representatives spend our tax money. Why, for example, did Curry County Manager Lance Pyle spend more than $1,700 on food from […]

A little tax trivia to chew on today

Freedom New Mexico Deadlines? Don’t you hate them? Today is one of the biggest deadlines of the year for taxpayers. It’s when Uncle Sam orders you to turn over a large portion of the money you earned so he can stuff his pockets with it and give it away to whomever he chooses. This has […]

Area taxpayers filing earlier this year

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By Helena Rodriguez: PNT correspondent To tax-filing procrastinators, Lloyd Harrison says “haste makes waste.” These are words of warning from Harrison, a Portales tax preparer with Anchor Accounting. He advises folks to begin early today to meet the midnight deadline for filing 2008 income tax returns. Everyone must meet the deadline — even if requesting […]

New tax fails to pass

By Argen Duncan: PNT senior writer Roosevelt County is no longer facing a new gross receipts tax. The proposed sales tax of 6 cents on every $100 died for lack of a motion at the County Commission meeting Tuesday in the County Courthouse. The tax would have helped fund indigent health care. No members of […]

County commission to vote on gross receipt tax increase

By Argen Duncan The Roosevelt County Commission is scheduled to vote on a proposed new gross receipts tax at its meeting at 9 a.m. today in the County Courthouse. At the Jan. 6 commission meeting, County Manager Charlene Hardin brought the matter before the commissioners. If passed, the tax of one sixteenth of 1 percent […]

Studies provide different scripts on film tax rebate

By Robert Nott: The Santa Fe New Mexican There’s an old saying that the devil can quote scripture for his own purpose. It can also be argued that economists can use financial data to paint the portrait that best suits their needs. Small wonder, then, that two recent studies of the financial impact of New […]