Release courtesy of the Association of Commerce and Industry (ACI)
New Mexico companies or contractors who wish to obtain a five percent bidding advantage on all state contracts are required to obtain a valid resident business certificate or resident contractor certificate issued by the State Taxation and Revenue Department (TRD) starting Jan. 1, 2012. The current turn-around time for an application is about 72 hours. TRD has only received about 90 applications to date. TRD Secretary, Demesia Padilla said she expects to see the applications start to take the full 30 days allotted by the department once companies and contractors realize they have to apply for five percent preference. Secretary Padilla believes her department will see about 10,000 applications in the coming months. For more information on applying for the in-state preference, click here, or contact the Taxation and Revenue Department’s District Office at 505.827.0951. TRD will also be adding a link (in the next few weeks) on their website with all of the information in one place.
