GRT 'Relief'? If Only…
New Mexico's sales tax has soared this century
Expect to hear a lot, the next few days, about the “tax relief” Michelle Lujan Grisham has deigned to bestow on New Mexicans. On Friday, the first portion of a two-phase reduction of the Land if Enchantment’s gross receipts tax — a kind of super-duper sales tax that inflicts considerably more damage than a narrow consumption levy — kicks in. The state-imposed segment of the GRT will fall from 5.125 percent to 5.000 percent, with a drop to 4.875 percent 12 months later.
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