- Associated Press - Monday, June 25, 2018

SANTA FE, N.M. (AP) - New Mexico lawmakers got their first look at a computer model designed to help them analyze the consequences of overhauling a tax system that many acknowledge is outdated and burdensome.

Experts with the national accounting firm Ernst & Young presented a report on the state’s tax system and discussed the computer model Monday during a meeting of a legislative revenue and tax policy committee.

New Mexico hired the firm in 2017 to develop the model as proposed tax-law changes were fueling the debate on how to diversify the economy.

With the model finally in hand, some lawmakers say they will have more confidence in proposing tax changes during the 2019 legislative session.

The report indicates New Mexico’s overall tax system doesn’t appear competitive but that reliance on tax credits and other incentives help to level the playing field.

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2019 The Washington Times, LLC.

Please read our comment policy before commenting.


Click to Read More and View Comments

Click to Hide