NEW MEXICO TAX LAW UNINTENTIONALLY CUTS INTO CITY REVENUES
The city of Hobbs is pushing to amend a state law that city officials say is resulting in an unintended loss of gross receipts tax revenue for the community.The measure passed by the New Mexico Legislature and enthusiastically signed by Gov. Michelle Lujan Grisham in 2019 included complex changes to state tax laws. Among other things, it was billed as a way to help communities by requiring a company to pay gross receipt tax where services are provided rather than where the company is located.
