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[1] [2] It does not have inheritance tax, estate tax or franchise taxes. While New Mexico does not have a state sales tax it does have a statewide "gross receipts tax", which is commonly passed on to the consumer by businesses just like a normal sales tax. [3] [4] [5] Its state income tax ranges from 1.7% to a maximum of 4.9%. [3]
The New Mexico Taxation and Revenue Department is the state agency responsible for collecting and distributing governmental revenue in New Mexico [2] and administering the state's motor vehicle code. See also
In United States business law, a registered agent (also known as a resident agent, [1] statutory agent, [2] or agent for service of process [3]) is a business or individual designated to receive service of process (SOP) when a business entity is a party in a legal action such as a lawsuit or summons. [4]
Oct. 13—SANTA FE — New Mexico voters will decide the fates of two proposals that would expand property tax exemptions for veterans who own homes in the state — and likely mean increased tax ...
The Town Hall was hosted by New Mexico Foundation for Open Government.
In 2005 the federal government spent $2.03 on New Mexico for every dollar of tax revenue collected from the state. This rate of return is higher than any other state in the United States. [21] The federal government is also a major employer in New Mexico providing more than a quarter of the state's jobs.
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Tax refunds are intercepted with the purpose of forcing citizens to comply to their required debts. If one has student loan payments, child support payments, or worker's compensation payments that they have not fulfilled, then their refund will be intercepted and put towards the payments of those obligations.