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SANTA FE – A sweeping proposal to overhaul New Mexico’s gross receipts tax by getting rid of most exemptions and lowering base rates gets its first hearing today at the state Capitol.
Rep. Jason Harper, R-Rio Rancho, the bill’s primary sponsor, has been working for months on the 347-page legislation, which he claims would improve the state’s business climate and make taxes fairer and easier to administer.
“This bill is not designed to address the (state’s) current budget woes, but it is designed to make sure we’re never in this budget situation again,” Harper said Friday.
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