New Mexico Taxation and Revenue Department
Recent News About New Mexico Taxation and Revenue Department
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State general fund revenue growth expected to continue in FY25
On Dec. 11, 2023, the New Mexico Taxation and Revenue Department announced that state General Fund revenues are projected to experience growth in fiscal year 2025 at a slower pace than in recent years. The projection outlines a 2.2% growth for FY25, generating $3.48 billion.
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New Mexico departments promote small business shopping for tax holiday
The New Mexico Taxation and Revenue Department recently announced that, along with the Departments of Economic Development and Tourism, it is encouraging New Mexicans and visitors to support small businesses during the holiday season. New Mexico observes a Small Business Saturday tax holiday, suspending the collection of gross receipts tax on qualifying item sales at specific non-franchise small businesses with 10 employees or less.
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New Mexico departments promote small business shopping for tax holiday
The New Mexico Taxation and Revenue Department recently announced that along with the Departments of Economic Development, and Tourism, it is urging New Mexicans and visitors to support small businesses during the holiday season. New Mexico observes a Small Business Saturday tax holiday, suspending the collection of gross receipts tax on qualifying item sales at specific non-franchise small businesses with 10 employees or less.