Small Business Relief Legislation Unanimously Clears Senate Committee

SANTA FE – Today, legislation to provide tax payment relief to New Mexico businesses cleared the Senate Tax, Business, and Transportation Committee with unanimous, bipartisan support. Senate Bill 25 (SB 25), sponsored by Senator Cliff Pirtle (District 32-Chaves, Eddy, and Otero), proposes a temporary waiving of penalties and interest on unpaid gross receipts tax, local option gross receipts tax, or compensating tax liabilities that became due on the effective date of the first COVID-19 public health order (March 13, 2020). The waiver would end two months after the public health order is rescinded or expires.