Recently Forbes magazine published an article on recent changes in New Mexico’s tax policy.
In April, Governor Martinez signed the Jobs Package into law. The Jobs Package was a direct result of ideas from the New Century Economy Summit held last October in Albuquerque.
The Jobs Package consists of a reduction in corporate income tax from 7.6% to 5.9% by January 1, 2018. This reduction will bring New Mexico in below the national average allowing our state to be more competitive. In addition, a single-sales factor was enacted for manufacturers, which will all be phased in over a five-year period.
